At O'Rourke Insurance Solutions, we cut through the noise and give you the facts—plain and simple. Whether you're curious,
cautious, or ready to protect your future, here's what you need to know.
💡 What is an Annuity?
An annuity is a long-term retirement planning tool that can be a cornerstone of your financial plan. It can help you protect and grow your retirement nest egg, or you can turn it into guaranteed lifetime income.
💡 What is a MYGA?
A Multi-Year Guaranteed Annuity (MYGA) is a simple, low-risk option for growing your retirement savings. It offers a guaranteed fixed interest rate over a set number of years—typically between 3 and 10—so you always know what you’re earning.
Unlike many other retirement tools, MYGAs grow tax-deferred and give you predictable returns without market exposure.
Many MYGAs also include flexible access, such as 10% annual penalty-free withdrawals, and some offer enhanced features for health events or income riders.
If you're looking for steady growth with safety and simplicity, a MYGA can be a smart solution.
💡 What is a Fixed Indexed Annuity (FIA)?
A Fixed Indexed Annuity (FIA) offers a balance between growth potential and principal protection. Instead of earning a flat rate, your interest is tied to the performance of a market index, such as the S&P 500®—but with a key difference: your money is not actually invested in the market.
- When the market goes up, you can share in the gains (up to a cap or with other limits).
- When the market goes down, your principal is protected—you don’t lose a dime.
Many FIAs also offer optional income riders, such as a Guaranteed Minimum Withdrawal Benefit (GMWB), that let you create a reliable income stream for life, regardless of how the market performs.
If you're seeking growth with downside protection, an FIA may be worth considering.
❓ Is this tied to the stock market?
No. Fixed annuities are not market-based investments. Your money is not exposed to market losses. It grows at a guaranteed rate—period.
❓ Can I lose money in a fixed or fixed indexed annuity?
With a fixed annuity, your principal and interest grow at a guaranteed rate and are not exposed to market losses.
With a fixed indexed annuity, your money is linked to an index’s performance—so you share in the gains, but you don’t lose money when the index drops. Your account value won’t decline below zero, protecting your principal while still allowing for growth potential.
❓ Am I protected from market downturns?
Yes. That’s one of the biggest reasons people choose fixed annuities. While the market goes up and down, your money keeps earning predictable, safe returns.
❓ What does “tax-deferred” mean?
It means you won’t pay income taxes on the interest your annuity earns until you withdraw it. This allows your money to grow faster through the power of compound interest.
❓ What’s the difference between accumulation and income?
Accumulation: Let your money grow at a guaranteed rate. Take it out later.
Income: Turn your annuity into a steady stream of income, often guaranteed for life.
We help you decide what fits your timeline and goals best.
❓ Do annuities carry hidden fees?
Many fixed annuities including MYGAs (multi-year guaranteed annuities) have no charges at all. Some may have surrender charges if you withdraw funds during the surrender period, but many offer flexible access options such as:
- Up to 10% penalty-free withdrawals annually
- Interest-only withdrawals without penalty
- Some include riders at no extra cost that allow you to access up to 100% of your money in cases like terminal illness
Fixed indexed annuities may have additional fees if you add optional riders, such as guaranteed lifetime income, specific growth guarantees, wealth transfer benefits, or long-term care riders. These riders add valuable protections but come with clear, upfront costs.
❓ How are you paid if you don’t charge me a fee?
We charge no fees, no management or admin fees. We’re compensated by the insurance companies when you move forward with a plan. That commission doesn’t reduce your investment, doesn’t affect your returns, and doesn’t come out of your account or premiums. You pay nothing extra for our service or support, and it never affects the rates of your annuity.
❓ How many annuity carriers do you work with?
We work directly with 30+ of the nation’s top-rated annuity carriers, so we can compare the best options available—without bias, markups, or middlemen.
❓ Are you tied to just one company?
No. We’re fully independent and directly appointed with every carrier we represent. That means you're not limited to one company's products—we shop the best offers for your needs.
❓ What’s the difference between a MYGA and a CD?
They’re similar, but MYGAs have some important advantages:
| Feature |
Bank CD |
MYGA (Multi-Year Guaranteed Annuity) |
| Provides safety of principal |
Yes |
Yes |
| Access to principal (subject to surrender charges) |
Yes |
Yes, with many offering flexible access, including 10% penalty-free annual withdrawals |
| Entire principal remains unreduced by commissions |
Yes |
Yes |
| Provides tax-deferred growth |
No |
Yes |
| Allows flexible contributions |
No |
Yes |
| Helps avoid costs and delays associated with probate |
No |
Yes |
| Earnings can be automatically reinvested without current tax |
No |
Yes |
| Provides guaranteed lifetime income without taxing principal first |
No |
Yes |
| May reduce taxable income affecting Social Security taxation |
No |
Yes |
| Potentially provides higher yields |
No |
Yes |
❓ Can I access my money if I need it?
Most fixed annuities allow up to 10% per year to be withdrawn without penalty. Some also allow withdrawals for Required Minimum Distributions (RMDs), terminal illness, or nursing care.
❓ When I die, does the insurance company keep my remaining money?
No. For fixed and fixed indexed annuities that haven’t been annuitized (turned into income), surrender charges are waived if the annuitant passes away. Any remaining account value goes directly to your named beneficiaries and usually avoids probate. This helps ensure your money passes smoothly to your loved ones.
❓ What types of annuities do you help with?
- Fixed Annuities – Safe, guaranteed growth
- MYGAs – Multi-year guaranteed annuities
- Fixed Indexed Annuities – Market-linked growth with downside protection
- Immediate Annuities – Income now, often for life
❓ What makes O'Rourke Insurance Solutions different from other agencies?
- No Middlemen, No Markups — We are directly contracted and appointed with all our carriers. You get direct carrier quotes with no extra fees or hidden costs.
- Independent & Unbiased — We don’t push one company or product. We shop from 30+ top-rated carriers to find the best fit for your goals.
- No Fees, No Charges to You — We charge no fees, no management or admin fees. Our compensation comes from the insurance companies, never from your premium or account. You pay nothing extra for our expert guidance. This does not come out of your premiums or growth and never affects your annuity rates.
- Licensed, Experienced Guidance — We help you understand your options clearly and honestly so you can make confident, informed decisions.
- Flexible Access to Your Money — Many annuities offer penalty-free withdrawals and riders for things like terminal illness or long-term care, giving you peace of mind.
- Transparent Communication — We explain all terms, charges, and features upfront. No surprises, no jargon.
❓ Is this a good option for someone like me?
If you’re looking for safety, steady growth, tax-deferred compounding, and income you can’t outlive, then yes—it may be worth a serious look. We’ll walk you through it based on your needs, not a sales pitch.
No pressure. No management fees. No surprises.
At O'Rourke Insurance Solutions, we help people make smart, informed decisions with confidence and clarity. Let's talk when you're ready.
