An annuity comes in many forms, but a simple definition is that an annuity is a contract that converts a sum of money into a series of periodic payments for an agreed upon period of time. An annuity can be thought of as a financial vehicle that converts a pool of money into a stream of income. Annuities are most useful in addressing the financial planning needs of people in or approaching retirement. Annuities are unique in the financial world because they can provide protection against the risk or outliving one’s assets (longevity risk) by guaranteeing income payments in perpetuity or any other selected amount of time. Annuities can be viewed as a type of personal pension plan. Social Security is similar to an annuity in that money contributed over the course of one’s working years is converted into a series of periodic payments that provide income during retirement.
Life Insurance Company of the Southwest (LSW) was incorporated in 1955 and is headquartered in Addison, Texas. It is a wholly owned subsidiary of the National Life Group and is licensed to do business in 49 states and the District of Columbia. Life Insurance Company of the Southwest (LSW) provides annuities to individuals and below is a brief description of its annuities:
John Hancock merged with the
Kilpatrick Life Insurance Company is headquartered in Shreveport, Louisiana. It provides a variety of insurance products to individuals that include life insurance, annuities, accident insurance, hospital indemnity etc.
Apart from core insurance products, Kilpatrick Life Insurance Company also provides products and services such as wealth transfer planning, business succession planning and supplemental retirement plans through its business partners. A brief overview of products and services offered by Kilpatrick Life Insurance Company is as follows:
