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Annuities
Offered Through PNC Investments
Annuities are contracts with insurance companies designed to help meet retirement and other long-term goals, and that have the ability to provide a steady stream of income. PNC Investments can help assess whether an annuity is appropriate for you.
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Overview
- Contracts with insurance companies designed to help meet long-term goals with the ability to provide a steady stream of income
- Investors make lump-sum payments or a series of payments over time, then receive payments from the insurance company in return
- Annuities allow for tax-deferred growth of your investment during the “accumulation” phase, then can make periodic payments to you during the annuitization, or “payout,” phase
- You decide the length of time you’d like to invest, as well as the frequency and duration of the payouts
- Income payments can be structured for a term as short as three years or for as long as a lifetime
- Contracts can be tailored to your risk tolerance and your need for income now or in the future
- Frequently used for retirement planning
- Can also be arranged to provide income and benefits for loved ones
- All annuities and annuity riders are subject to the claims-paying ability of the issuing insurance company
- Withdrawals made prior to age 59 1/2 will be subject to federal income tax penalties unless an IRA exemption exists
Additional Information
Pricing & Fees
Annuities have contract specific fees (including surrender charges) and expenses.
For pricing and fee information, please contact PNC Investments or see the PNC Investments Overview of Products and Services.
Annuity Types
Immediate
For investors looking to generate immediate income
- Pay one single premium
- Once the income starts, it continues for life or for a specified period of time
- Income payments are determined at contract issue, based on the length of the payout period and if a single or joint life is insured
- Generally, once income starts, no changes can be made to the income being received
Fixed-Deferred
For conservative investors looking to supplement retirement income, provide income for a spouse or heirs, or potentially bridge an income gap
- Pay one single premium, or several flexible premiums
- Principal investment grows tax-deferred
- Fixed crediting rate is determined by the insurance company
- Cash value is available for withdrawal, if needed (though may be subject to surrender fees)
- During the accumulation phase, death benefits are paid to a named beneficiary and bypass probate
Indexed
For moderate to aggressive investors – limited upside potential and no direct market exposure
- Pay one single premium, or several flexible premiums
- Offers downside protection in the event of market decline
- Crediting rate based, in part, on market movement of an underlying equity index (subject to participation and cap rates)
- For an additional cost, optional income riders allow for guaranteed lifetime income regardless of account value
- During the accumulation phase, death benefits are paid to a named beneficiary and bypass probate
Variable
For moderate to aggressive investors – tax-deferred market exposure to maximize income potential in retirement, or provide income for a spouse or heirs
- Pay one single premium, or several flexible premiums
- Provides a deferred income stream and may keep pace with inflation, potentially enabling higher returns over time
- Growth potential based on market returns and unlimited downside risk including possible loss of principal
- Cash value is available for withdrawal, if needed (though may be subject to surrender fees)
- For an additional cost, optional income riders allow for guaranteed lifetime income regardless of account value
- During the accumulation phase, death benefits are paid to a named beneficiary and by-pass probate
Understanding Asset Allocation
Determining the mix of investment types is one of your most important tasks as an investor.
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Associated Products & Services
The following information may be provided by PNC Investments affiliates, including PNC Bank, PNC Private Bank℠ or PNC Institutional Asset Management®:
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Important Legal Disclosures and Information
This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC Investments and its affiliates and vendors do not provide legal, tax or accounting advice.
Important Investor Information: Brokerage and insurance products are:
Not FDIC Insured • Not Bank Guaranteed • Not A Deposit
Not Insured By Any Federal Government Agency • May Lose Value
Securities products, brokerage services and managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member FINRA, and SIPC. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency.
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