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Annuities in Waterloo, Cedar Falls, and Iowa City, IA

Keep Your Financial Resources Protected.

The Sinnott Agency, Inc. understands the value of saving for and investing in your future. If you’re like many Americans, you work diligently each day and take the right steps to ensure that you’ll be supported with a comfortable income after you retire. That’s why it’s smart to have the right coverage options under your retirement plan because in some cases, you can actually outlive your income.

The last thing you’ll want to experience as a retiree is a loss of your financial resources. With an Annuity from The Sinnott Agency, Inc., you can ensure that your finances are covered – for a healthy and happy retirement. Annuities are essentially investments that guarantee a steady income stream. Based on your plan, you can receive money either on a set schedule or in a lump sum.

Types of Annuities

The Sinnott Agency, Inc. can offer two types of Annuities: Deferred and Immediate Annuities.

Deferred Annuities are investments that you make either over a period of time or all at once. Since these Annuities are tax-deferred, you only have to start paying taxes upon withdrawal. Deferred Annuities are either fixed or variable, meaning your payout is either a fixed sum or an amount in accordance to the performance of the market/group of investments.

Immediate Annuities are payments that you can receive right after you make your investment. This type of Annuity is typically for those around the retirement age who want to secure their financial future. Like Deferred Annuities, you only pay taxes upon withdrawal.

Understand Your Investments

An annuity is a long-term, tax-deferred investment designed for retirement. With an annuity, you can create a fixed or variable stream of income. The annuity’s value and growth will vary based on how the investments you choose to fund the annuity (underlying investments) perform.

Just like other types of investments, an annuity has limitations. If you take your money out early, you may have to pay fees called surrender charges. You’ll have to pay income tax on the withdrawal, and if you’re not yet 59½ years old, you may also have to pay a 10% tax penalty. If you do take an early withdrawal, it will reduce both the death benefit your beneficiaries receive and the cash value of the annuity.

An annuity is sold by an insurance company, and the annuity’s guarantees and protections are subject to that company’s ability to pay for them. However, this doesn’t apply to the underlying investments. The underlying investments are subject to market risk, so you could end up with less money than you invested.

An annuity is sold by prospectus, a document that describes the annuity’s objectives, risks, fees and charges. The cost of an annuity often includes mortality and expense charges, administrative fees, contract fees and the expense of the underlying investments. There are prospectuses for the annuity and the underlying investments that fund the annuity. It may take some time, but you should read the prospectuses carefully before investing.

It’s important to discuss your options with a specialist at The Sinnott Agency, Inc. who is committed to helping you make the right decisions.

Before investing, understand that annuities are not insured by the FDIC, NCUSIF or any other federal government agency, and are not deposits or obligations of, guaranteed by, or insured by the depository institution where offered or any of affiliates. Annuities that involve investment risk may lose value. Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

Our Locations

The Sinnott Agency, Inc.

622 West 4th Street
Waterloo, IA 50702
Main office: 319-233-6103
Toll free: 800-897-7391
Fax: 319-234-8133

The Sinnott Agency, Inc. - Iowa City

818 Maiden LN
Iowa City, IA 52240
Main office: 319-341-6025
Fax: 319-234-8133

Our Providers

Testimonials

We were with the same insurance company for over 20 years and recently switched over to the Sinnott Agency. Not only did our rates go down, but our coverage increased. Very happy with our decision!

Karen
The family place that takes care of your insurance needs!

Sharon
We have used The Sinnott Agency Inc. for years and they have been great both for personal and business needs. A true asset to any individual or company.

Alex
Since moving to the Cedar Valley I have had both a personal & professional relationship with the Sinnott agency. They have performed well above the standard set by other agencies and look forward to many more years together.

Brad
Best place in town for your insurance needs.

Michael
Top notch personal service.

Keith
Best place to have insurance, period.

Margie