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Fixed Index Annuities & MYGA

Guaranteed Retirement Income —
Zero Market Risk.

Fixed Index Annuities let your money grow with the market on the upside — while a built-in floor means you never lose a dollar when markets fall. Add an income rider and you have a personal pension that pays you for life.

$460B+
In annuity sales in 2025
0%
Market-loss floor on FIAs
22
Licensed states

Rodney Cummings — OR License #18847712 · Licensed in 22 States · No obligation, no pressure.

Your Retirement Savings Deserve Better Than Market Whiplash

The average retiree can't afford a 20–30% portfolio loss in the first few years of retirement — that's called sequence-of-returns risk, and it permanently damages your income. A Fixed Index Annuity eliminates that risk entirely.

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Market Crash Risk

Traditional portfolios can lose 30–50% in a bear market — at the worst possible time.

⏱️

Living Too Long

Running out of money at 85 or 90 is a real fear. FIA income riders pay for life, no matter what.

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Low CD Rates

CDs and savings accounts can't keep up with inflation. FIAs tie growth to an index — no cap on your upside in many designs.

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Unpredictable Income

RMDs, dividends, and withdrawals fluctuate. A guaranteed income floor gives you certainty every month.

Annuity Products

Which Annuity Is Right for You?

Legacy Wealth Services works with a wide portfolio of A-rated carriers to find the annuity design that fits your timeline, income needs, and tax situation.

Most Popular 📈

Fixed Index Annuity (FIA)

Credits interest based on a market index (S&P 500, Nasdaq, etc.) with a guaranteed 0% floor — you earn when markets rise, you don't lose when they fall. Most FIAs include optional income riders for guaranteed lifetime income.

  • Principal protection (0% floor)
  • Index-linked growth potential
  • Optional lifetime income rider
  • Tax-deferred growth
  • No annual fees on many products

Best for: Pre-retirees and retirees who want market-linked growth without the risk of loss. Especially valuable for those 5–15 years from retirement.

Predictable 🔒

MYGA (Multi-Year Guaranteed Annuity)

A CD-like annuity that locks in a guaranteed interest rate for a fixed term (3–10 years). No market exposure — just a predictable, tax-deferred return. Often pays 2–3× the rate of bank CDs.

  • Guaranteed fixed interest rate
  • No market risk whatsoever
  • Higher yields than most CDs
  • Tax deferral on interest earned
  • Choose 3, 5, 7, or 10-year terms

Best for: Conservative savers who want to beat CD rates without any market risk. Great for near-term liquidity needs with a defined horizon.

Income Focused 💰

Income Annuities & QLACs

Single Premium Immediate Annuities (SPIAs) start income right away. QLACs (Qualified Longevity Annuity Contracts) defer income to age 80–85, reducing RMDs today and creating a large guaranteed paycheck in your 80s.

  • Immediate or deferred income start
  • Guaranteed payments for life
  • QLAC reduces current RMDs
  • Joint life options for spouses
  • Covers longevity risk directly

Best for: Those who want immediate cash flow or are worried about outliving their money in their 80s and beyond.

How a Fixed Index Annuity Actually Works

The mechanics are simpler than they sound. Here's what happens to your money inside an FIA:

01

You Fund It

You deposit a lump sum (typically $20K–$500K+) into the annuity. No annual contribution limits like IRAs.

02

Index Crediting

Each year, the insurance company calculates how the linked index performed. If it went up, your account is credited — up to a participation rate or cap.

03

The Floor Protects You

If the index went down, your credit is simply zero. You don't lose. Your prior-year gains are locked in permanently — they can't be taken back.

04

Income Rider Turns On

When you're ready to retire, you activate the income rider. It converts your account value into a guaranteed monthly check — for as long as you live.

FIA vs. Other Retirement Vehicles

FIA MYGA Variable Annuity Stock Market
Principal Protected ✅ Yes ✅ Yes ❌ No ❌ No
Growth Potential 📈 Index-linked 🔒 Fixed rate 📈 Market returns 📈 Full market
Market Loss Risk ✅ None (0% floor) ✅ None ❌ Yes ❌ Yes
Guaranteed Income Option ✅ Income rider ⚠️ Limited ✅ Optional ❌ No
Tax-Deferred Growth ✅ Yes ✅ Yes ✅ Yes ⚠️ Taxable events
Annual Management Fees ✅ Often $0 ✅ $0 ❌ 2–4%/yr ⚠️ Fund expense ratios
Is This Right for You?

You're a Great Fit for an Annuity If…

Annuities aren't right for everyone — but for the right person, they're the most powerful retirement tool available.

  • You're within 5–15 years of retirement and can't afford a major portfolio loss
  • You want income that's guaranteed to last as long as you live
  • You have money in CDs, savings accounts, or bonds earning low rates
  • You're worried about outliving your savings (longevity risk)
  • You want to reduce RMD exposure with a QLAC strategy
  • You want tax-deferred growth without IRA/401(k) contribution limits
  • You're taking Social Security at 70 and need income to bridge the gap now

⚠️ When an Annuity Might NOT Be the Right Fit

Rodney's promise: he'll tell you honestly if an annuity isn't the right fit.

  • ✕ You need full liquidity in the next 1–2 years
  • ✕ You're in a very early accumulation phase (25–40 years old)
  • ✕ You already have more guaranteed income than you need (pension + Social Security covers everything)
  • ✕ You're in a very low income tax bracket with no tax-deferral benefit

In a free 30-minute call, Rodney will assess whether an annuity makes sense for your specific situation — and which type, at what amount, from which carrier.

Income Riders Explained

The Income Rider: Your Personal Pension

Many FIAs include an optional Guaranteed Lifetime Withdrawal Benefit (GLWB) rider. This rider creates a separate "income account" that grows at a guaranteed rate — often 6–8% per year — regardless of index performance.

When you're ready to take income, you "turn on" the rider. The insurance company calculates a guaranteed monthly payment based on your income account value — and you receive that payment for life, even if the account runs to zero.

Illustrative Example

$200,000
Initial Deposit
$393,000+
Income Account Growth (10 yrs @ 7%/yr)
~$19,650/yr
Annual Guaranteed Income (5%)
For Life
Duration

*For illustrative purposes only. Actual rates, growth percentages, and payout amounts vary by carrier, product, and individual circumstances. Not a guarantee of future results.

Run My Income Illustration →
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Free Download

Annuity Comparison Guide

FIAs, MYGAs, SPIAs, QLACs, and IULs — explained side by side so you can see which product fits your retirement goals. No jargon, no sales pitch — just straight answers.

This guide covers:

✓ How each annuity type earns interest
✓ Pros and cons of each product
✓ Fee structures compared
✓ Income rider mechanics
✓ Tax treatment of annuities
✓ How to evaluate carriers

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Rodney Cummings

Rodney Cummings

RSSA® Certified · Oregon Lic. #18847712
Licensed in 22 States

FIA SpecialistMYGA ExpertRSSA® Certified20+ Carriers
Your Advisor

Annuity Advice That Puts Your Interests First

Rodney Cummings works with a wide portfolio of carriers — not a single company — which means he can compare products and recommend the one with the best rates, riders, and terms for your situation. No quotas. No captive carrier allegiances.

In a free 30-minute review, Rodney will run an income illustration for your specific scenario — showing what different FIA designs would pay you, what the income rider grows to over your deferral period, and how an annuity would fit alongside your Social Security, Medicare, and estate planning picture.

OR License #18847712 · No obligation · 30 minutes · Serving Oregon and 22 states

Estimate Your Income

Annuity Income Projector

Enter your numbers below for a ballpark estimate. Rodney will run precise, carrier-specific illustrations in your free review.

$10,000 – $2,000,000
Get a Precise Illustration — Free

These are educational estimates only. Actual income depends on carrier, contract terms, and prevailing rates at time of application.

Common Annuity Questions

Straight answers to the questions Rodney hears most often.

Is my money safe in an annuity?
Yes — annuities are insurance products, not securities. Your principal is guaranteed by the financial strength of the issuing insurance company (not the FDIC, but state guaranty associations provide protection up to $250,000 or more depending on state). Rodney only works with A-rated carriers that have strong solvency ratings.
What happens to my money when I die?
Most FIAs include a death benefit equal to the full account value (or higher), paid directly to your named beneficiary — outside of probate. If you've turned on an income rider and your account value is zero but you're still receiving payments, the death benefit may be reduced or eliminated depending on the rider design. Rodney reviews this in every illustration.
Can I get my money out if I need it?
Yes, but annuities are designed as long-term vehicles. Most FIAs include a surrender period (typically 5–10 years) during which early withdrawals may trigger surrender charges. However, most products allow 10% penalty-free withdrawals per year, and many allow full access after the surrender period with no charges.
Are annuities taxed?
Annuities grow tax-deferred — you don't pay taxes on earnings until you take withdrawals. When you withdraw, earnings are taxed as ordinary income (not capital gains). If funded with after-tax dollars, only the gain portion is taxed. If funded with IRA or 401(k) rollover dollars, all withdrawals are taxed as ordinary income. A QLAC can defer some of that taxation as well.
How much do I need to open an annuity?
Minimums vary by carrier and product, but most FIAs and MYGAs require a minimum premium of $10,000–$25,000. Some carriers allow as little as $5,000. For most income strategies, deposits of $50,000–$200,000+ are most common. There's no upper limit.
How is Rodney compensated?
Rodney is compensated via commission paid by the insurance carrier — not by you. Annuities that pay commission do not cost you more; the commission comes out of the carrier's profit margin, not your account value. There's no fee for the annuity review or comparison.
What are surrender charges, and how long do they last?
Surrender charges are fees applied if you withdraw more than the allowed amount (typically 10%/year) during the surrender period. Surrender periods vary by product — typically 5 to 10 years. After the surrender period ends, you have full access to your accumulated value with no charges. Shorter surrender periods usually come with slightly lower accumulation potential. Rodney always explains the full surrender schedule before you commit to any contract.
What is a participation rate, and how does it affect my growth?
A participation rate determines how much of an index's gain is credited to your account. For example, if the S&P 500 gains 10% and your participation rate is 70%, your account is credited 7% (subject to any cap or spread). Higher participation rates mean more upside exposure. Some FIA designs use a spread instead — e.g., index gain minus 1.5%. The key: your principal is never at risk when the index falls — you're simply credited 0% in a down year.
What's the difference between an IUL and a Fixed Index Annuity (FIA)?
Both use index-linked growth with a downside floor. The key difference: an FIA is designed primarily for retirement income — it's a contract with an insurance company that can guarantee lifetime income through a rider. An Indexed Universal Life (IUL) is life insurance first — it builds tax-free cash value you can access via loans, plus provides a death benefit. IUL is ideal if you also need life insurance or want a tax-free income stream. FIAs work well for people who want a simple income guarantee without a life insurance component. Rodney helps you choose based on your goals.
What happens to my annuity if I need long-term care?
Some FIAs include long-term care (LTC) or confinement care riders that provide enhanced income or accelerated withdrawals if you're confined to a nursing home or require home health care. These riders can double or even triple your income benefit under qualifying conditions. Not all products offer this — it's a feature Rodney specifically looks for when comparing carriers for clients concerned about future care costs. It's also worth reviewing your overall retirement picture, including separate LTC coverage options.
Free Annuity Review

See Exactly What an Annuity
Would Pay You

In 30 minutes, Rodney will run a live income illustration for your specific numbers — deposit amount, timeline, income start date — and show you side-by-side what different FIA designs would pay. Zero pressure, zero obligation.

Schedule My Free Annuity Review 📞 503-832-8555

Rodney Cummings · OR License #18847712 · Licensed in 22 States · No obligation

Complete Your Retirement Picture

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Social Security Analysis

Know the exact month to claim — could be worth $50K–$150K more lifetime.

Learn More →
🏥

Medicare Planning

Advantage vs. Supplement at 65 — get the plan that fits your doctors and budget.

Learn More →
⚖️

Estate Planning

Ensure your annuity, home, and assets pass to heirs the way you intend.

Learn More →
🛡️

Life Insurance & IUL

Indexed Universal Life offers tax-free retirement income and a death benefit.

Learn More →

CLIENT RESULTS

What Our Clients Say About Their Retirement Income

★★★★★

"I was terrified of running out of money in retirement. Rodney set me up with a Fixed Index Annuity that gives me a guaranteed paycheck every month — no more sleepless nights worrying about the stock market."

Patricia G.

Portland, OR ·

★★★★★

"Rodney explained annuities in plain English without any pressure. He compared five different options and helped me choose the one that was right for my goals. I couldn't be happier."

James R.

Lake Oswego, OR ·

★★★★★

"I had money sitting in a CD earning almost nothing. Rodney moved it into an FIA and now it's growing with market upside — and I can never lose my principal. That matters at my age."

Eleanor S.

Tualatin, OR ·

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