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Annuities in Ellsworth and River Falls, WI and Red Wing, MN

Keep Your Financial Resources Protected.

The Service Agency 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 The Service Agency, 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

The Service Agency 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 The Service Agency who is committed to helping you make the right decisions.

Our Location

The Service Agency

369 W. Main Street
Ellsworth, WI 54011
Main office: 715-406-4760
Toll free: 800-584-9495
Fax: 715-273-3924

Office Hours:

Mon: 7:30 AM - 5:00 PM
Tues: 7:30 AM - 5:00 PM
Wed: 7:30 AM - 5:00 PM
Thurs: 7:30 AM - 5:00 PM
Fri: 7:30 AM - 4:00 PM
Sat: By Appointment
Sun: Closed

Our Providers

Testimonials

The Service Agency really lives up to their name! Kristine spent time learning our business and expanded the coverage for our furniture store at a lower cost than we were previously paying. Prompt and very helpful.
- Deb D
The name says it all! Excellent, caring customer service in a friendly, welcoming manner. And, as an independent agency you can trust you're with the best company and paying a fair rate!
- Kaydi S