Annuities are a means to save money on a tax-deferred basis. Under current tax laws, interest earned is not taxed until you withdraw the money. Annuities are available as a fixed product that pays a guaranteed interest rate declared by the Company or as a variable product where the contract owner decides how to allocate the annuity funds and bears the risk.

An annuity is a vehicle that returns the proceeds in an agreed-upon schedule. You make a single payment or series of payments, and the annuity value grows tax-deferred. At a point of your choosing, your annuity value is paid out to you; you also decide how to receive the money. One popular option is to arrange a stream of income payments that continue for the rest of your life.

Fixed and Variable Annuities

A fixed annuity is a financial product that guarantees your principal and pays a return that is equal to or greater than a specified fixed rate.

A variable annuity is one in which you choose the investment options. Your rate of return and the amount of money you accumulate will vary depending on the return on the investments you select. With a variable annuity, you are subject to investment risk, including loss of principal.

Deferred and Immediate Annuities

A deferred annuity is a financial product that allows you to accumulate money on a tax-deferred basis, when purchased from an insurance company that can subsequently be paid out as income or taken in a lump sum.

An immediate annuity begins paying out income payments within 12 months or less after the first premium is paid.

Single-Premium and Flexible-Premium Annuities

A single-premium annuity allows you to make one single, lump-sum contribution whereas a flexible-premium annuity gives you the flexibility of making multiple contributions as frequently or infrequently as you would like (within certain limits as detailed in the annuity contract).

Western & Southern Life offers the following types of annuities:

Flexible-Premium Deferred Variable Annuities

A flexible-premium deferred variable annuity lets you determine your own investment strategy. You decide how much to contribute and where it is invested. Your retirement savings can grow tax-deferred until you withdraw your money or begin receiving a stream of income payments.

Flexible-Premium Deferred Annuities

With a flexible-premium deferred annuity, you have the flexibility to make contributions as frequently or infrequently as you wish, within certain limits. All contributions grow on a tax-deferred basis until you withdraw your money or begin receiving a stream of income payments.

Single-Premium Deferred Annuities

A single-premium deferred annuity allows for one single, lump-sum contribution. Your money grows tax-deferred until you withdraw it or begin receiving a stream of income payments.

Single-Premium Immediate Annuities

Unlike a deferred annuity, an immediate annuity generates income payments one period after you purchase the annuity. Single-premium immediate annuities allow you to set up an immediate, steady income stream with a one-time, lump-sum contribution.

The product information contained in is a summary of available benefits. The exact terms of the benefits and the applicable provisions and conditions are contained in the policy. Any policy contains terms under which it may be continued in force or discontinued.

Variable annuities discussed in this Web site are offered through our strategic partnership with W&S Brokerage Services, Inc.*, and issued by Integrity Life Insurance Company, Cincinnati, Ohio. They may not be available in all states or may have different provisions in certain states.

*member FINRA [] / SIPC []

Toll-free Phone

For more information about Western & Southern Life’s annuities, please call 866.832.7719 between 8:00 a.m. and 10:00 p.m. ET, Monday through Thursday, between 8:00 a.m. and 6:00 p.m. ET on Friday, and between 9:00 a.m. and 1:00 p.m. ET on Saturday (excluding holidays).