Understanding Annuities

To increase financial security in retirement, more and more people are including annuities in their financial planning. Because there are many different types of annuity contracts and a variety of annuity options available, it can be difficult to understand how they actually work. This publication serves as a guide to help you understand annuities as a source of retirement income. When considering the purchase of an annuity, it is important to understand the different types of annuities, how annuities work, the contractual features of the policy, and the benefits, as well as risks, in order to choose the kind of annuity that would best fit your retirement needs.

Understanding Annuities is available to be downloaded below. Note, however, that you will need an Adobe Acrobat Reader to view or print this information, which you can download at no cost from Adobe .

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If you have questions or concerns about your insurance company or agent, write to the insurance company or agent involved. Keep a copy of the letter you write. If you do not receive satisfactory answers, please contact:

Office of the Commissioner of Insurance
P.O. Box 7873
Madison, WI 53707-7873
(608) 266-0103

For information on filing a complaint with the Insurance Commissioner's Office, call:

Insurance Complaint Helpline
1-800-236-8517 (Statewide)
(608) 266-0103 (Madison)

Deaf, hearing, or speech impaired callers may reach OCI through WI TRS.

For your convenience, a complaint form is included on OCI's Web Site.