Annuities are contracts whereby you agree to pay a lump-sum payment or periodic payments in return for the promise of a regular income for life or for a defined period. Annuities offer tax-deferred shelter for hard-earned dollars, accumulating interest at competitive rates. As such, they are an excellent choice for individuals or couples who wish to secure funds for retirement.


Luso-American Financial offers three types of annuities


Single Premium Deferred Annuity


By putting off, or deferring payments from the annuity, you allow

your funds to grow over time. If you make one annuity payment and

do not plan to add to it, your annuity is called a Single Premium

Deferred Annuity. This is a good choice for people who have a large

sum of money available before retirement. Money used to purchase

a Single Premium Deferred Annuity often comes from an inheritance

or a lump-sum distribution from a pension plan.


Immediate Annuity


Immediate annuities are single-premium annuities that can help you convert your assets into a source of regular income. Immediate annuities may be an ideal way to supplement the income you receive from Social Security, employer-sponsored retirement plans or any other savings and investments. Immediate annuities can provide you with an income stream that you will never outlive.


Flexible Premium Deferred Annuity


With this annuity you can make a series of payments over time. As you reach your golden years, you may elect to receive a monthly income for the rest of your life. This type of annuity is called flexible because it lets you decide how often you want to add funds to your annuity and how much to add. The more you put in and the sooner you start, the more your annuity will grow.

** Luso-American Financial or its agents do not offer tax advice, please consult your tax advisor for information specific to your particular situation.**