Insurance and annuities for retirement income in Texas
Insurance and annuities can strengthen a retirement plan when they are sized and selected with care. Wealth Solutions evaluates income annuities, life insurance, and long-term care options for Texas retirees to support reliable income, family protection, and legacy goals.
Protection that supports the plan
Why insurance belongs in financial planning
Coverage is not the goal by itself. The goal is a retirement plan that stands up to what life brings. Wealth Solutions evaluates where insurance adds value for Texas families, from steady income to family protection. We compare options, explain trade-offs, and coordinate policies with investments so each part works together.
Lifetime income with annuities
Turn assets into a personal paycheck
For clients concerned about outliving savings, an annuity can convert a portion of assets into predictable monthly income. We assess immediate, deferred, and fixed indexed structures, always weighing costs and benefits. When an annuity fits, we size it to help cover essentials and keep the rest of the portfolio flexible. For broader context on funding and allocation, review retirement income planning and investment management.
Turning savings into income
From accumulation to dependable paychecks
A strong income plan balances stability and growth. We map essential expenses, then layer income sources so the must-haves are covered first. Your plan may blend dividend strategies, bond ladders, and a flexible withdrawal rate that adjusts to market conditions. We coordinate how to draw from IRAs, 401(k)s, brokerage accounts, and cash considering tax implications so taxes stay controlled and cash flow stays consistent. When it fits, we evaluate annuities to create a personal pension for essential costs. For clarity on portfolio alignment, review our investment management approach for retirees.
Our Retirement Planning Process
A step-by-step plan that aligns income, taxes, and timing so your retirement paychecks start on schedule and adapt as life changes.
Discovery and goals
Define your retirement vision, expected expenses, and timeline.
Income needs analysis
Separate essential and lifestyle spending and plan with inflation through age 90 and beyond.
Sources of income
Social Security strategy, pensions, rental or business income, and portfolio withdrawals.
Strategy development
Address any income gap with portfolio design, drawdown planning, and options for 401(k) rollover when appropriate. We stress-test for volatility to reduce sequence risk.
Implementation
Reposition assets for income and resilience, set up your client portal, and organize transfers.
Ongoing adjustment
Annual or semiannual reviews to update for RMDs, law changes, or life events
Life insurance planning
Protect a spouse and fund legacy goals
We review existing policies and current needs. Some retirees maintain coverage to replace income for a spouse, create estate liquidity, or equalize inheritances. We compare term, permanent, and modern hybrid designs and can coordinate a 1035 exchange when a legacy policy no longer fits. When estate intent is central, see
estate planning for next steps.
Long-term care solutions
Plan for care without derailing the plan
Care costs can strain assets. We model self-funding reserves and evaluate stand-alone policies and hybrid life or annuity contracts with care riders. If coverage is selected, we fit premiums to the budget and ensure benefits align with likely needs. To explore broader medical planning, visit long-term care planning.
Our insurance review process
Clarity before commitment
We audit fees, features, and fit on all policies you hold. Recommendations focus on solving a real need, not selling a product. Everything integrates with your plan so cash flow, taxes, and beneficiaries line up.
Frequently Asked Questions
Straight answers to common questions
What is an annuity and do I need one?
It is an insurance contract that can provide income for life. Not everyone needs one. We use annuities when they create a clear benefit for the plan.
Are annuities safe?
Fixed annuities rely on the insurer’s claims-paying ability. Variable contracts involve market risk. We work with strong carriers and explain guarantees and limits in plain language.
How much life insurance is appropriate in retirement?
It depends on survivor income needs, debt, and estate goals. We calculate the gap and tailor coverage or confirm none is required.
Disclaimer
An annuity is a contract between a buyer and an insurance company that provides the buyer with a regular series of payments in return for a lump-sum payment. Any references to protection benefits or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities contain certain fees, risks, limitations, and restrictions, including free withdrawals up to a specified limit, as well as potential withdrawal fees or surrender charges for withdrawals exceeding that limit or early withdrawals. Please speak with an agent for costs and complete details. You should carefully consider your financial needs before investing in annuity products and benefits. An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 591⁄2, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax qualified plan, the tax deferral feature offers no additional value. Qualified distributions from a Roth IRA are generally excluded from gross income, but taxes and penalties may apply to non qualified distributions. Consult a tax advisor for specific information. This is not a recommendation to surrender or otherwise purchase an insurance product. You should review your specific policy and financial situation with your advisor. Wealth Solutions is not acting in a fiduciary capacity when it comes to the sale of annuities. Wealth Solutions will receive commissions based on the sale of annuity contracts. Annuity contracts are made by and for the benefit of the buyer, who should bear responsibility for premiums and understand their financial conditions. Annuity commissions typically range from 1 percent to 8 percent of the total value, though you may pay as high as 10 percent or as low as 0 percent if you buy a commission-free annuity.