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After years of hard work, protecting your retirement income is just as important as growing your savings. With market volatility, longer life expectancy, and uncertainty around Social Security, many Americans are turning to annuities to create a more predictable and stable retirement.
One of the biggest reasons people invest in annuities is the promise of steady income. Certain annuities can provide guaranteed payments for life, helping retirees avoid the risk of outliving their savings.
While some annuities offer growth tied to the market, many include downside protection. This can be especially appealing during economic downturns, when traditional investments may fluctuate sharply.
Money invested in an annuity grows tax-deferred, meaning you don't pay taxes on earnings until you begin taking withdrawals. This allows your savings to compound more efficiently over time.
An annuity is a financial product issued by an insurance company that allows you to convert a portion of your savings into future income. You can fund an annuity with a lump sum or a series of payments, and in return, the insurance company agrees to provide income either immediately or at a later date.
There are several types of annuities—such as fixed, indexed, and variable—each designed to meet different financial goals and risk tolerances. We've compared the best annuity companies and providers to help you understand your options and choose a solution that aligns with your retirement plan.
Once you select an annuity provider, their licensed specialists can walk you through the details, explain payout options, and help you decide which annuity type best fits your needs.
Take our quiz to explore options tailored to your needs, including fixed, variable, or immediate annuities!
The first step is deciding which annuity structure makes sense for your retirement goals:
Fixed annuities offer predictable, guaranteed interest and stable income.
Indexed annuities provide growth potential linked to a market index, with built-in protection against losses.
Variable annuities allow for higher growth potential but come with market risk.
Many retirees work with top-rated annuity companies that offer personalized guidance to ensure they understand fees, income riders, and payout timelines before moving forward.
You can fund an annuity using savings from a variety of sources, including cash, brokerage accounts, or by rolling over funds from an existing retirement account such as a Traditional IRA, Roth IRA, 401(k), 403(b), or Thrift Savings Plan (TSP). When done properly, rollovers are typically tax-free, allowing you to reposition your retirement savings without triggering immediate taxes.
Once funded, your annuity begins accumulating value based on its structure. When you're ready, you can turn that value into a reliable stream of income—helping provide financial confidence and peace of mind throughout retirement.
Issued by: Gainbridge Life Insurance Company
Interest Rate & Terms: Up to 5.15% guaranteed with 3-10 year terms¹ available
Minimum Deposit: $1,000 – $1M
Taxes: Interest taxable as earned
Withdrawals: Up to 10% of account value each year²
The FastBreak™ annuity, offered by Gainbridge, is a non-tax-deferred savings product with a guaranteed annual percentage yield (APY) up to 5.15%.¹ It is available in terms ranging from three to ten years and requires a minimum investment of $1,000.
Unlike tax-deferred annuities, FastBreak™ requires you to pay income tax on the gains credited to your account each year. While this means you don’t receive the tax-deferred growth common with other annuities, it offers the advantage of flexibility. You can access your funds before age 59 ½ without incurring early withdrawal penalties, which is typically not an option with tax-deferred products.
According to Gainbridge, the FastBreak™ annuity is ideal for individuals focused on medium to long-term savings goals who want the flexibility to access their money if needed, before reaching retirement age. With its competitive APY and penalty-free early withdrawal feature, it’s a good fit for those seeking steady growth with financial flexibility.
Issued by: Gainbridge Life Insurance Company
Interest Rate & Terms: Up to 5.20% guaranteed with 3-10 year terms¹ available
Minimum Deposit: $1,000 – $1M
Taxes: Earnings grow tax-deferred; taxes are due upon withdrawal
Withdrawals: Up to 10% of account value can be withdrawn annually without penalty²
The Gainbridge® SteadyPace™ annuity is a tax-deferred savings option offering a competitive 5.20% APY and flexible term lengths ranging from three to ten years. With a minimum deposit requirement of $1,000, this annuity is accessible to a wide range of investors. Earnings grow tax-deferred, allowing potential tax savings, and you can withdraw up to 10% of your account value annually without penalty, starting in the first contract year.
Upon maturity, you have the flexibility to receive your funds as a lump sum, opt for regular payments over five to ten years, or renew your contract for continued growth under the prevailing terms. However, withdrawals before age 59½ may incur a 10% federal tax penalty on earnings in addition to ordinary income taxes.
The Gainbridge® SteadyPace™ annuity is ideal for individuals seeking secure, tax-deferred growth with guaranteed returns. It suits those with medium- to long-term savings goals, including pre-retirees and retirees who value flexibility, predictable income, and low-risk investment options.
Gainbridge® FastBreak™ and SteadyPace™ Annuities:
¹ Annuity rates are subject to change at any time, and the rate mentioned may no longer be current. Current rate as of 02/24/2026 for a 5-10 year investment term. Rates subject to change.
² Withdrawals made prior to age 59 ½ are subject to an IRS early withdrawal tax penalty.
Please visit Gainbridge.io for current rates, full product disclosures, and other important information. Products and/or features may not be available in all states. All guarantees based on the financial strength and claims paying ability of the issuing insurance company.
Withdrawals above the 10 percent free withdrawal amount are subject to a withdrawal charge and market value adjustment and if under age 59 ½ may be subject to an IRS early withdrawal tax penalty (FastBreak™ is not subject to this penalty). FastBreak™ and SteadyPace™ annuities are issued by Gainbridge Life Insurance Company in Zionsville, Indiana.
FastBreak™ is not a tax-deferred annuity; instead you are taxed annually on earned interest.