Retirement & Annuities

Turn Savings Into Security With Smart Retirement Strategies

Planning for retirement means more than just building a nest egg—it’s about creating confidence in your future. At Patriot Insurance Solutions, we help individuals and couples across Chattanooga and the surrounding areas turn their retirement goals into reality with customized solutions and trusted advice. Whether you're preparing to retire in a few years or already living on a fixed income, we offer retirement planning support and annuity options to provide income you can’t outlive.

Our approach is simple: listen to your needs, explain your options in plain language, and recommend strategies that work best for your stage of life. With deep experience in retirement income planning and access to a wide range of annuity products from respected carriers, we help you transition from earning income to receiving it—without losing sleep over market fluctuations or rising costs.

Understanding Your Options: What Are Annuities?

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A Flexible Solution for Reliable Retirement Income

An annuity is a contract between you and an insurance company designed to provide guaranteed income in retirement. You contribute money (either all at once or over time), and in return, the annuity can pay you a stream of income—immediately or in the future—for a set number of years or even for the rest of your life.

Fixed Annuities

These offer stable, predictable returns and guaranteed income payments. Ideal for conservative savers, fixed annuities can act as a “pension-like” income stream, protecting your principal while offering peace of mind.

Indexed Annuities

Tied to the performance of a market index (like the S&P 500), these allow for greater growth potential than fixed annuities while still offering downside protection. They’re a popular middle ground for retirees who want some growth without full market exposure.

Immediate Annuities

Purchased with a lump sum and begin paying income within a year. Great for people retiring now and needing income right away.

Deferred Annuities

These grow over time before converting into income. They’re often used by people in their 50s and 60s looking to lock in future income. At Patriot Insurance Solutions, we’ll help you understand the trade-offs and benefits of each type so you can make informed decisions with confidence.

Is An Annuity Right for You?

Tailored Retirement Solutions for Tennessee Residents

Annuities aren’t one-size-fits-all. We work with retirees, near-retirees, and independent workers across Tennessee and northern Georgia who want to supplement their Social Security, protect against market downturns, or simply ensure they won’t outlive their savings.

You might benefit from an annuity if:

  • You want a reliable monthly income stream that continues as long as you live.
  • You're concerned about outliving your savings.
  • You prefer a guaranteed return over market risk.
  • You’ve maxed out your 401(k) or IRA contributions and need another tax-deferred option.
  • You’re nearing retirement and want to protect a portion of your assets from volatility.

We’ll walk you through when it makes sense to consider an annuity—and when it doesn’t. And if you're looking for income and growth, we can design a blended strategy that incorporates annuities along with other retirement planning tools.

Common Questions About Annuities & Retirement Planning

  • Are annuities guaranteed to pay for life?

    Many are. Lifetime income annuities guarantee monthly payments for as long as you live. Some even allow for spousal continuation so your partner is also covered. We’ll help you compare options to find the income duration that fits your goals.

  • Are annuities a safe investment?

    Annuities are issued by insurance companies and backed by their financial strength. Fixed annuities are generally considered low-risk. Indexed and variable annuities carry more complexity and potential for growth, but they’re not the same as direct stock investments. We’ll walk you through the safety features of each.

  • Can I access my money if I need it?

    Annuities are meant for long-term income. However, many offer partial withdrawals or “free withdrawal” amounts annually. Some allow for emergency access in certain situations. We’ll explain any surrender charges or waiting periods before you commit.

  • When should I start thinking about retirement income?

    It’s never too early. Whether you’re 10 years out from retirement or already retired, we can create or update a plan to make sure your money lasts. If you're in your 50s or 60s, this is a critical window to review your strategy and lock in future income.

  • How is annuity income taxed?

    Withdrawals are taxed as ordinary income, and earnings grow tax-deferred. We’ll help you understand how an annuity fits within your larger tax picture—especially if you’re already receiving Social Security or taking IRA distributions.