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Invest for Your Financial Future with Annuities

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

Planning for your financial future may seem like a daunting task. From strategizing for retirement to safeguarding loved ones, there are various factors to consider when outlining a long-term financial blueprint.

At First Community Insurance and Annuity Center, we understand that your hard earned money means more to you than numbers printed on a page. It’s about how you envision your future, dreams, goals, values, and aspirations. It’s about the people you love, the passions you pursue, and everything in life that inspires you.

We specialize in guiding clients on the path toward long-term financial security. In accordance with this mission, we often recommend clients consider an annuity as a component of their comprehensive financial portfolio.

Discover Why an Annuity May Be Right for You

At its core, an annuity is a financial product that can be tailored to provide lifetime guarantees. It is an investment option to consider if you are concerned about outliving your savings. Annuities have many different payout options, which can be aligned with your income needs. Please note, however, an annuity is a long-term, tax-deferred investment, and you may face a penalty if you take your money out early.

An annuity can provide lifetime income through annuitization, which is a singular process of transitioning your account into regularly scheduled payments. These payments can continue regardless of your lifespan, even if the total payments exceed the worth of the original account. Annuities are also a tax-efficient way of handling legacy planning, as well as surviving spousal support after death. 

The types of annuities we promote at First Community Insurance and Annuity Center are designed to maximize benefits, while limiting attached fees. We provide access to three main annuity types, which are outlined below:

  • Immediate Annuity – Traditionally recommended for individuals interested in withdrawing money within the first year, or someone with access to other retirement income. An immediate annuity takes a lump-sum deposit and transitions it into guaranteed payments for either life or a set period of time.
  • Fixed Annuity - Operates at a fixed rate, and is ideal for someone looking to protect and grow his or her savings with guaranteed interest.
  • Fixed Indexed Annuity – Offers both protection in a down-market and growth opportunity in a good market. Ideal for someone interested in accumulating gains with a barrier of risk protection.

Together, we will review the options accessible and align the most fitting annuity for your financial wellbeing. As an agency, we are interested in managing your entire portfolio, and using annuities as a tool within that overall dynamic.

Work Exclusively with Our Principal Agent, Doug Wheeler

Doug Wheeler began his career selling Medicare Supplements door-to-door in 1983. Since that time, he has become one of America’s top retirement and income planning specialists. Mr. Wheeler has been a qualifying member of the “Million Dollar Roundtable” since 2005. He is licensed to provide annuities in Illinois, Indiana, Wisconsin, Ohio, Tennessee, Minnesota, Georgia, Alabama, Arkansas, and South Carolina.

Mr. Wheeler formed First Community Insurance and Annuity Center in 1990, and serves as the principal agent and CEO. Mr. Wheeler personally handles any annuity established by First Community Insurance and Annuity Center. His guidance extends beyond the confines of insurance services and dives deeper into long-term financial strategies.

Accessibility is also key, and Mr. Wheeler is committed it meeting clients when and where it is most convenient for them. His experience includes working with a diverse client base - from farmers and factory retirees to physicians and musicians.

To begin working with Mr. Wheeler, please contact our agency or request a quote. You can also visit our Important Questions About Annuities page for more information.

Our Location

First Community Insurance and Annuity Center

731 Larry Power Rd
Bourbonnais, IL 60914
Main office: 866-937-5533
Toll free: 866-937-5533
Fax: 815-937-8571

Our Providers


It's not always about the price, sometimes it is simply having the right coverage. With First Community Insurance I never worry whether I'm covered or not.
K.Smith - Culvers Franchise
Doug and his team handle the hard stuff immediately. The impossible takes a week or two.
T. Garcia - Small Business Owner
I don't worry about my retirement anymore. Doug set me up on autopilot income with above average returns and no risk... very happy.
M. Lucas - Semi-Pro Golfer
We wont go anywhere else.
R.Steinke and J.Piekarczyk
Doug Wheeler was the best thing that came into my life. I was in a perfect storm and he calmed the sea and assured me I would survive. Through his knowledge and direction, I can honestly say that I am OK today because of Doug. I questioned what I didn't understand and Doug was always willing to explain the unknown to me. I am pleased and privileged to now call him my friend as well as financial advisor. He treated me like family from the beginning and still does.
Kathy Lachowicz
In working with Doug Wheeler and First Community, I have found Doug to be the consummate insurance agent. Always looking out for your interests and doing what’s best for the client, he values the relationships he has built over the years and has extended those through generations of families he has worked with. When you need Doug, he is on the phone or at your door, ready, willing, and able to help. His extensive knowledge of insurance products and concepts has made him a respected member in his community and the insurance industry as a whole. If you are looking for a trusted advisor to help you through the often difficult world of insurance products and how to use them, Doug will personally walk you through the process and make it easy to understand.
John O'Keefe