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Home > Products > Financial-Services > Deferred & Immediate Annuities - Bourbonnais IL & Bradley IL

Invest for Your Financial Future with Annuities

Licensed to Architect Annuities in Illinois, Indiana, Wisconsin, Ohio, Tennessee, Minnesota, Georgia, Alabama, Arkansas, and South Carolina

We all want income security as we get older and plan for retirement. Outside traditional pension and investment plans, consider an annuity to grow savings and receive income later in life. Through the multiple options available, you can better plan your long-term financial security. 

What is an annuity?  

Think of an annuity as a cross between insurance and an investment. It’s a contract between you and an annuity issuer or insurance company that helps you invest and save money. 

Under the annuity, you pay your insurance company a premium to establish and maintain the account. Over the years, it will grow in value until you are ready to use the money. In most cases, your insurer will invest the annuity funds. That way, the account will accumulate earnings to provide you a better return on your initial funds.  

The type of annuity you choose can determine how your income changes. 

  • Fixed annuities guarantee an interest rate, allowing you to better plan long-term solvency.

  • Variable annuities allow you to invest your funds in subaccounts to generate different returns on income. That way, you can often increase the funds you eventually take out of the account.


Your insurance company will carefully manage the investments within your annuities. Therefore, you’ll have income security within the coverage you choose. 

What annuity options are available?  

Beyond fixed and variable annuities, you have other choices. Different account options let you choose when you can receive payments. 

  • Immediate annuities can pay you within a short period after investment. Your issuer will figure how much to pay based on factors like the principal in the account and your life expectancy.

  • Deferred annuities act in two ways. During the accumulation period, which can last years, you let the money in the account grow. After entering the distribution phase (usually after retirement) you will begin to receive the funds from the account.


Talk to your First Community Insurance and Annuities agent about which type of annuity is best for your long-term solvency. 

The Benefits of an Annuity 

Most people use the funds within an annuity as a source of income and support following their retirement. Your annuity will provide certain financial benefits to assist you in the future. 

  • You can often carry the annuity alongside other accounts like 401(k) or 403(b) pensions. Therefore, you’ll create a larger financial cushion to use later.

  • No limits exist on how much you can invest in the annuity.

  • Money within your plan grows tax-deferred until you withdraw it. After that, you only pay regular income tax.


You can use this money for specific reasons, like a vacation or medical care. Or, you can receive a stream of income for the rest of your life. Think of it as a way to support yourself in old age. 

Contact Us Today!  

To begin working with Mr. Wheeler, please contact our agency or request a quote.

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731 Larry Power Rd | Bourbonnais, IL 60914
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