Planning for retirement? Annuities are designed to ensure that you will have the funds you need to meet your long-term and retirement goals. There are three basic types of annuities. The best one for you depends on your individual situation and needs.
- Fixed Annuity – Pays you no less than a specified interest rate while your account is growing. For more conservative investors, a safe and steady way to grow assets at a fixed rate of interest with a tax deferral.
- Variable Annuity – You choose from a wide range of investment options, professional portfolio management, tax deferral, income options, and death benefits. Variable annuities can help increase your income for retirement and make it last a lifetime.
- Immediate Income Annuities - Want to create a secure income during retirement? Make one purchase payment and begin receiving annuity payments soon after. You can choose the payout period, including a lifetime income.
Other considerations include:
- Company rating – Is the company reputable and highly rated?
- Premium protection – Will it pay back as much as you invested?
- Cost of living protection – Is inflation decreasing your future lifestyle?
- Joint and survivor benefits – Are your loved ones protected?
First Hawaiian Bank’s team of Wealth Advisors can map out a customized strategy and design a portfolio that will provide you with a secure financial future. Learn how annuities and other products can benefit you. Call us at (808) 525-5159 or toll free at (877) 643-4344 or stop by any First Hawaiian Bank branch nearest you and ask to speak with a Wealth Advisor.
Annuities are a long-term, tax-deferred investments designed for retirement purposes. Ordinary income tax is due on earnings withdrawn. Withdrawals prior to age 59 ½ may incur a 10% federal tax penalty on top of ordinary income taxes. Withdrawals may also be subject to an early surrender fee charged by the issuer. Withdrawals have the effect of reducing the death benefit and the surrender value. All guarantees are based on the claims paying ability of the issuing company. Additionally, variable annuities are subject to investment risks, including the possible loss of principal. Investor units will fluctuate with the performance of the underlying investments, and there may be a gain or loss upon redemption.
Variable annuities are sold by prospectus only. Investors should carefully consider objectives, risks, charges and expenses carefully before investing. The contract prospectus and the underlying fund prospectus contain this and other important information. Investors should read the prospectus carefully before investing. For a copy of the prospectus contact your financial advisor.
Brokerage and insurance products and services are offered through BancWest Investment Services (“BWIS”), a registered broker/dealer, Member FINRA/SIPC and SEC Registered Investment Advisor. BancWest Investment Services uses the “doing business as” name First Hawaiian Investment Services (“FHIS”) to provide brokerage and insurance services on the premises of First Hawaiian Bank in Hawaii, Guam, and CNMI. Wealth Advisors of FHIS are registered representatives of BWIS. BWIS is a wholly-owned subsidiary of Bank of the West and is an affiliate of First Hawaiian Bank.