Fixed annuities in South Carolina for steady growth and reliable income

Guaranteed Growth & Income

Safe accumulation and pension-like payouts
Fixed annuities offer conservative Savers in Greenville and the Upstate a way to grow money at a guaranteed rate—or convert savings into monthly income you can’t outlive. The Sullivan Agency helps compare multi-year guaranteed annuities (MYGAs) for accumulation and immediate annuities for income now. As independent agents working with leading life insurance companies, we’ll find features that fit your retirement goals without market volatility. If you have questions, just contact our team for a no-pressure review.

Types of Fixed Annuities

Deferred vs. immediate—know the difference

  • Deferred fixed annuities/MYGAs: lock a rate for 3–10 years, tax-deferred growth, often with 10% penalty-free withdrawals annually
  • Immediate annuities: turn a lump sum into income for life or a set period—great for covering essential expenses alongside Social Security
Why Consider One

Predictability, tax deferral, legacy options

  • Guaranteed rates and no stock-market swings
  • Tax-deferred accumulation until you take withdrawals
  • Flexible payout designs—single life, joint life, or period certain
  • Beneficiary provisions so remaining value can pass to heirs
What To Know Before You Buy

Surrender periods, liquidity, and fit

We’ll explain surrender schedules, optional riders, and how withdrawals affect guarantees. The goal is a balanced plan—liquidity for surprises and guaranteed income for peace of mind.

South Carolina retirees ask

  • Are annuities like CDs?

    MYGAs feel similar—fixed terms and rates—but add tax deferral and a wider range of payout options.

  • What if I need access to cash?

    Many contracts allow 10% annual withdrawals without penalty; we’ll confirm details before you commit.

  • How are payments taxed?

    Earnings are taxed as ordinary income when withdrawn; we’ll coordinate with your tax professional on strategy.