There are times when you need your money to work harder than what you earn in a traditional deposit account. For those times, we offer a wide range of services for investments with varying degrees of length, size and risk.
Whidbey Island Bank offers managed investment services that are designed to target different levels of investment risk and return. Check with your local branch for more details.
While you’re probably familiar with life insurance, most people don’t know much about annuities. So to give you a better understanding of what an annuity is and how it works, here’s some basic information.
What is a fixed annuity?
A fixed annuity is a contract between an insurance company and an individual/entity in which the individual gives the insurance company a sum of money in exchange for a guaranteed interest rate.
- Fixed annuities are guaranteed by the insurance company.
- Provide tax deferred growth.
- Competitive interest rates.
- Safety – New York Life holds the highest possible ratings for financial strength from the four major independent rating agencies.
- Access to your money.
- A guaranteed death benefit.
- The opportunity to generate a guaranteed lifetime income.
- Options for different interest rates, terms and withdrawal features.
These investments are:
- Not insured by the FDIC
- Not a deposit or other obligation of, or guaranteed, by the Bank.
- Subject to investment risks including possible loss of principal amount invested.