Find the best income annuity fast.

An income annuity might be suitable for you if:

• Coverage Needs: Your Social Security or pension benefits aren't enough to meet your ongoing expenses.
• Retirement Savings: You're already saving for retirement and want to bolster your income with more certainty.
• Longevity Expectations: You are in good health and expect to live a long life, which means an income annuity can help provide steady support over a longer period.
• Income Certainty: You're seeking stability and predictability in your retirement income.

However, keep in mind:

• Annuities should be part of a diversified retirement strategy and not your entire nest egg.
• They don't offer high returns like stock market investments and aren't typically adjusted for inflation.

Portfolio Strategy

For minimizing the risk of depleting your funds and maximizing your legacy, incorporating annuities instead of bonds tends to provide the best outcomes.

Types of Income Annuities

• Immediate Annuities: Suitable for those about to retire or already retired. Income begins within 12 months of purchase.
• Longevity Annuities: Designed for those who are further from retirement. Income starts more than one year after purchase to provide future security.
• Qualified Longevity Annuity Contracts (QLACs): Ideal for deferring required minimum distributions (RMDs) from traditional IRAs. Purchased with IRA funds, income starts after age 73 but before 85.

Getting Started

You can obtain quotes for all three types of income annuities for free using the Income Annuity Quote Tool on our website. This resource can provide further financial examples and detailed information on each annuity type to help guide your decision.

Purchasing an income annuity online from Revise is straightforward and convenient. Here’s a breakdown of the process:

• Get Quotes: Use our Strategy Marketplace to find real-time quotes that match your needs.
• Review Options: Examine the details of each annuity option carefully to understand the benefits and terms.
• Secure Your Rate: Simply submit an application! The application must be completed and accepted by the insurer before expiration.
• Apply Online: Click “Apply” once you’ve found the right annuity. Complete the online application in less than 10 minutes using the digital platform.
• Confirmation and Submission: Our team will contact you to confirm the details and submit your application to the insurer(s).

Support

If you have questions or need assistance, you can reach out via chat, email, or phone for personalized support.

This digital approach simplifies the annuity purchase process, saving you time and providing access to real-time information.

Here’s a brief overview of the three types of income annuities, each designed to provide a guaranteed income stream, differing mainly in their timing and funding sources:

• Immediate Annuities:
  • Target Audience: Ideal for individuals who are about to retire or have already retired.
  • Income Start: Provides income starting within 12 months of purchase.
  • Purpose: Offers immediate financial stability and predictability in retirement.
• Longevity Annuities:
  • Target Audience: Suitable for those planning ahead who are still some distance from retirement.
  • Income Start: Income begins more than one year after purchase, for long-term planning.
  • Purpose: Aimed at securing income for later years, reducing the risk of outliving financial resources.
• Qualified Longevity Annuity Contracts (QLACs):
  • Target Audience: Those looking to manage and defer required minimum distributions (RMDs) from Traditional IRAs.
  • Income Start: Purchased with Traditional IRA funds, income starts after age 73 and before age 85.
  • Purpose: Allows for deferral of RMDs, extending the tax-deferred growth period and providing income at a later stage in life.

The participation rate in a fixed indexed annuity determines how much of the gain in the chosen index will be credited to your annuity. It is expressed as a percentage.

For example, if your annuity has a 70% participation rate and the index gains 10%, your annuity would be credited with 7% interest (70% of 10%). This rate allows you to benefit from positive index movements, but you might not receive the full gain as the participation rate limits the share of the index increase that you earn. This covers the insurer's costs to provide you with valuable capital protection.

The participation rate can vary depending on the annuity contract and the specific terms set by the annuity provider. We list all participation rates transparently within our marketplace.

1. Online Application

The application typically takes 15-30 minutes to complete. You can navigate between sections and your progress will be saved automatically, allowing you to exit and return later if needed.

Information Gathering:

• Personal Information: Provide details such as your address, phone number, Social Security Number (SSN), and place of birth.
• Driver's License: Upload a picture of the front of your driver’s license for identity verification.
• Beneficiaries: List the individuals who will inherit the annuity's value should you pass away.
• Financial Overview: Prepare to provide estimates of your income, expenses, assets, and debt, and answer suitability questions to ensure the annuity fits your financial situation.
• Funding Source: Indicate the source of funding, such as a check, wire transfer, ACH deposit, IRA, or annuity exchange. Note that some methods may affect processing times.

2. Application Review

Within 1-2 business days, the team will review your application and reach out for any necessary clarifications. You will receive the final insurer application for review and signature before submission.

3. Insurer Processing

Processing usually takes a few weeks for the insurer to accept the application, process the funding, and issue the policy. Transfers, like a 1035 exchange, might extend this timeframe.

4. Policy Receipt

Once processed, you'll receive formal policy documentation. There's a "Free Look Provision" period (typically 10-30 days) where you can cancel the policy without penalties.

5. Manage Your Annuities

We’ll provide access to an online portal to keep track of your annuity, with assistance available for key milestones, such as when the rate guarantee ends.

This process ensures you have a thorough understanding and control over your annuity application and management.

Our proprietary marketplace provides instant annuity recommendations and transparently outlines key strategy details so you can find the perfect fit fast.

Annuities are designed to provide financial security and predictable returns, but the potential for losing money depends on the type of annuity and its specific features.

Note: At Revise, we only offer market-loss-protected annuities.

Here's a breakdown of the three main types of growth annuities:

Fixed Annuities (offered by Revise):

• Returns: Fixed annuities offer a guaranteed rate of return, meaning your principal and interest are secure. You won’t lose value due to market fluctuations as the insurance company promises a specific interest rate over the term of the annuity.
• Risk: The main risk is not directly losing your principal, but rather the potential erosion of purchasing power due to inflation if the guaranteed rate does not keep pace with inflation over time.

Fixed Indexed Annuities (offered by Revise):

• Market Gains Without Losses: While you can benefit from index-linked gains, you are protected against losses due to market downturns because your principal is not directly invested in the index.
• 0% Floor: Fixed indexed annuities are linked to a stock market index, such as the S&P 500. They have a 0% floor, which means your principal won’t decrease due to negative market returns. If the market returns negative during your credited period, you simply receive a 0%, or no return for that period.
• Risk: While market downturns don't impact your principal, any fees associated with the annuity, such as strategy or rider fees, can decrease your account's accumulation value over time

Variable Annuities (not offered by Revise):

• Market-Dependent Returns: Variable annuities allow you to invest in sub-accounts, which are similar to mutual funds. Your returns are directly linked to the performance of these investments, meaning they can fluctuate with market changes.
• Potential for Gains and Losses: Because returns depend on market performance, variable annuities offer the potential for higher gains compared to fixed annuities. However, they also carry the risk of losing value if the market performs poorly.
• Fees and Charges: Variable annuities tend to have higher fees compared to fixed annuities. These may include management fees, mortality and expense risk charges, and fees for additional features like income or death benefit riders.
• Investment Risk: Unlike fixed or fixed indexed annuities, variable annuities do not provide a guaranteed rate of return or a 0% floor. Your principal is at risk, and you could potentially lose money if the sub-accounts perform poorly after accounting for fees.

Insurers hedge annuity risk by using derivatives contracts or other arrangements to limit the investment risk of the annuities they sell. This can help protect insurers from losses during market downturns. Insurance carriers typically hedge the risk on your annuity policy to their overall portfolio with a mix of index options (calls and puts on the S&P 500, for example), futures, swaps, and making duration-matched, fixed income asset purchases. The actuarial arm at the insurer, establishes and executes the hedging strategy, rather than an investment bank, to pass on the cost savings in the form of more returns.

Revise is a best-in-class, tech-enabled insurance brokerage focused on transparency and providing every customer with an accurate fit. We’ve removed the need for a sales pitch, boring phone call, or visit to an advisors office. We simply show the most competitive, expert-designed strategies from the best insurers, and highlight the closest fit every time with our proprietary technology. Of course, if you prefer speaking to a human, we’re standing-by with lifelong industry professionals who have designed our solution from the ground-up ready to chat. We are proudly based in Chicago, IL.

Yes, it’s totally free to work with us. First, a little understanding of the insurance industry helps. Insurance products are built and backed by insurers, no surprise here, but are introduced to the public though brokerages or independent agents–who receive compensation in the form of a commission. These commissions, which reward the brokerage for placing their products, are paid directly by insurers to the brokerage and not from your returns. You will never see a commission fee from Revise. We are a non-captive brokerage and are not tied to any specific insurer, so we can show you the best fit, everytime.