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Annuities in Mundelein IL & Libertyville IL

Keep Your Financial Resources Protected.

Schultz Insurance Services Inc understands the value of saving for and investing in your future. If you’re like many Americans, you work diligently each day and take the right steps to ensure that you’ll be supported with a comfortable income after you retire. That’s why it’s smart to have the right coverage options under your retirement plan because in some cases, you can actually outlive your income.

The last thing you’ll want to experience as a retiree is a loss of your financial resources. With an Annuity from Schultz Insurance Services Inc, you can ensure that your finances are covered – for a healthy and happy retirement. Annuities are essentially investments that guarantee a steady income stream. Based on your plan, you can receive money either on a set schedule or in a lump sum.

Types of Annuities

Schultz Insurance Services Inc can offer two types of Annuities: Deferred and Immediate Annuities.

Deferred Annuities are investments that you make either over a period of time or all at once. Since these Annuities are tax-deferred, you only have to start paying taxes upon withdrawal. Deferred Annuities are either fixed or variable, meaning your payout is either a fixed sum or an amount in accordance to the performance of the market/group of investments.

Immediate Annuities are payments that you can receive right after you make your investment. This type of Annuity is typically for those around the retirement age who want to secure their financial future. Like Deferred Annuities, you only pay taxes upon withdrawal.

Understand Your Investments

An annuity is a long-term, tax-deferred investment designed for retirement. With an annuity, you can create a fixed or variable stream of income. The annuity’s value and growth will vary based on how the investments you choose to fund the annuity (underlying investments) perform.

Just like other types of investments, an annuity has limitations. If you take your money out early, you may have to pay fees called surrender charges. You’ll have to pay income tax on the withdrawal, and if you’re not yet 59½ years old, you may also have to pay a 10% tax penalty. If you do take an early withdrawal, it will reduce both the death benefit your beneficiaries receive and the cash value of the annuity.

An annuity is sold by an insurance company, and the annuity’s guarantees and protections are subject to that company’s ability to pay for them. However, this doesn’t apply to the underlying investments. The underlying investments are subject to market risk, so you could end up with less money than you invested.

An annuity is sold by prospectus, a document that describes the annuity’s objectives, risks, fees and charges. The cost of an annuity often includes mortality and expense charges, administrative fees, contract fees and the expense of the underlying investments. There are prospectuses for the annuity and the underlying investments that fund the annuity. It may take some time, but you should read the prospectuses carefully before investing.

It’s important to discuss your options with a specialist at Schultz Insurance Services Inc who is committed to helping you make the right decisions.

Before investing, understand that annuities are not insured by the FDIC, NCUSIF or any other federal government agency, and are not deposits or obligations of, guaranteed by, or insured by the depository institution where offered or any of affiliates. Annuities that involve investment risk may lose value. Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

Our Location

Schultz Insurance Services, Inc.

505 E. Hawley St. #220
Mundelein, IL 60060
Main office: 847-970-5524
Fax: 847-388-4746

Our Providers

Testimonials

Very good company. I've been with them for 15 years . They always on top of thing's and they have the best customer service.
H Hamza
Mike is great! Always personable, timely, helpful, and extremely competitively priced.
Corey
Best insurance company I have ever worked with. They are efficient, professional and very competitive in price. Premium Heating & Cooling.
Premium Heating & Cooling
Schultz Insurance provides top-quality customer service. When we need Certificates, Bonds and/or Special Coverages they are quick to respond, which in turn keeps our customers happy.
Markgraf Heating and Air -Long Grove
I own a business for 12 years and from my first day on I'm dealing with Mike Schultz for all my business & health insurance, He is very knowledge about his work and he always found a great - but most important for me is he is always available when I need him.
Mike M
Schultz Insurance always provides excellent service. They are professional and quick to respond to our changing insurance needs. They are committed to knowing their customers and finding the best insurance coverage to fit their situation.
M. Small
We've worked with Mike for many years. He has always done great work. Always professional and provides excellent service.
S Sundquist
When we have questions, concerns or need service Schultz Insurance has always been there for us.
Austrian Bakery