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.
First United American Life Insurance Company is a New York subsidiary of United American Insurance Company. Since its beginnings more than 20 years ago, First United American has maintained its financial stability, while experiencing tremendous growth.
First Investors Company is a diversified financial network that includes an investment management group, a life insurance company, a sales organization, a transfer agent and a bank under one corporate umbrella. All of First Investors' businesses operate under the umbrella of First Investors Consolidated Corporation (FICC). FICC is the parent company of the following subsidiaries: First Investors Corporation, First Investors Management Company, First Investors Life Insurance Company, First Investors Federal Savings Bank and Administrative Data Management Corporation.
Privately held Fidelity Investments is one of the largest investment companies in the United States.
