Income annuities

What’s an income annuity?

An income annuity turns your money into a regular series of income payments that can continue for life.


Key benefits

Guaranteed, steady income in retirement.

Income that can start right away or in the future.

Income that can last a specific number of years or the rest of your life, and can continue to a loved one after you die.

Payments can increase each year to help keep pace with inflation.

How do income annuities work?

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You put money in

You purchase the annuity contract with a lump sum.

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It pays you back over time

You receive regular payments over a certain number of years or your lifetime.

The specific amount of money you receive is calculated on the following criteria:

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Your gender1 and age.

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How much you pay for the annuity contract.

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When you want income payments to start and how long you want your income payments to last.

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For certain annuity contracts, whether you want the payments to continue to a loved one after you die.

Consider an income annuity if:

  • You are in or near retirement.
  • You want steady, dependable income in retirement.
  • You want income for a specific period of time or your lifetime.

I don't want any surprises. What else should I know?

When you purchase an income annuity, you’re agreeing to a long-term contract with an insurance company. In exchange for providing guaranteed income for as long as you need it, the insurance company permanently locks in the money you give them. Income payment types cannot be changed or modified once payments have begun. If you think you might need that money for unplanned expenses in the future, an income annuity may not be right for you.

Types of income annuities to consider:

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Income now

If you want income now, some annuities provide guaranteed, immediate income that can last for your lifetime or as long as you need it, with options to have annual payment increases to help combat inflation.

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Income later

If you want income later, other annuities let you select a date in the future to begin receiving payments—usually early in your retirement. This can give you more freedom to enjoy your younger years, with less concern about running short later.

Next Steps

First Symetra offers a variety of annuities. Ask your financial professional or [insurance producer] if an annuity is right for you.


1For nonqualified annuities only.

Income annuities are issued by First Symetra National Life Insurance Company of New York, New York, NY. Mailing address: P.O. Box 34690, Seattle, WA 98124.

Annuity contracts have terms and limitations for keeping them in force. Contact your financial professional or insurance producer for complete details.

Guarantees and benefits are subject to the claims-paying ability of First Symetra National Life Insurance Company of New York.