HomeAbout Us

Steady income for a more secure retirement

With today's longer life spans, you may spend almost as much time in retirement as you'll spend working. Annuities can help close the gap between the money you save and what you'll need to meet your everyday living expenses. Whether you're already retired, or are still building your nest egg, annuities can help you accumulate savings and provide a guaranteed stream of retirement income1.

Ask a BMO Harris financial advisor about how annuities might fit within your retirement strategy. Through our relationships with various annuity providers, BMO Harris Financial Advisors offers both fixed and variable annuities. Compare annuities now

Explore the benefits of annuities

  • Unlimited contributions. Typically, there are no IRS limits on the amount you can deposit each year2.
  • Tax-deferred earnings. Generally, you pay no income tax on your earnings until you withdraw money or receive money in the form of annuity payouts3.
  • Option of guaranteed lifetime income1. You decide how long you want to receive payments.
  • Guaranteed death benefit1. Most annuities guarantee payment to your beneficiaries, which may avoid probate.
  • No RMDs. Unlike a Traditional IRA, there are no required minimum distributions (RMDs) with an annuity4.

For additional information about annuities from the FINRA, SEC and other independent sources, visit the FINRAand SEC websites at www.finra.org and www.sec.gov.

Investors should consider the contract and underlying portfolios' investment objectives, risks, charges and expenses carefully before investing. This and other important information are contained in the prospectuses and Statements of Additional Information, which you can obtain from your financial advisor. You should read the prospectuses carefully before investing.

Fixed Annuities Variable Annuities
Benefits
  • Safety of principal. It's easy to plan your retirement income needs.
  • Guaranteed interest rate1. You know how much you're earning.
  • Tax-deferred growth. Postpone tax on investment earnings until you make withdrawals.
  • Choice of investment options. Create a tailored strategy using stock, bond and money market funds.
  • Opportunity for faster growth. Potentially earn returns that exceed the rate of inflation to help maintain the purchasing power of your savings.
  • Tax-deferred growth. Postpone tax on investment earnings until you make withdrawals.
  • Tax-free transfers. Switch balances between investment options when you want to adjust your strategy.
  • Automatic rebalancing and systematic investing5 options. Stay on track to your goals.
Payout options Flexible, including income for life Flexible, including income for life
Protection for beneficiaries Optional, including guaranteed death benefit or return of principal Optional, including guaranteed death benefit
Considerations
  • Interest rate may or may not keep pace with inflation.
  • Early withdrawal charges6 and market value adjustments7 may apply.
  • The value of the annuity depends on the performance of the underlying investments.
  • There is no guarantee of principal or interest.
  • Early withdrawal charges6 and market value adjustments7 may apply.
1 Guarantees are subject to the claims-paying ability of the issuing insurance company.
2 Some contributions may be limited depending on the product purchased. For example, a single premium annuity does not allow for additional contributions.
3 IRS penalties may apply to withdrawals prior to age 59½. Early withdrawals may be subject to surrender charges and/or market value adjustments. State premium taxes may also apply.
4 If you hold the annuity in an IRA, minimum distributions may be required.
5 Systematic investment programs do not guarantee or protect against losses in declining markets.
6 IRS penalties may apply to withdrawals made prior to age 59½. 7 Market value adjustments may increase or decrease the value of the annuity.

Contact a Financial Advisor

BMO Harris Wealth Institute learn more