Michael Fox — Licensed Insurance Advisor
Michael Fox Insurance
Phone: 856-676-9358
Email: michaelfox13@gmail.com
michaelfoxinsurance.online
Annuities Overview
Printed June 18, 2026
Annuity guidance
Plan how to live on the money you have accumulated.
A main focus of Michael's work is retirement income planning: figuring out how to turn years of savings into income you can actually live on. Annuities may help provide guaranteed income or principal protection, but the details matter.
Talk through my optionsWhat this can help with
- Income options designed to last for a set period or for life
- Potential protection from market losses depending on product type
- Clear review of surrender periods, fees, riders, and access to money
- Income planning alongside accumulated savings, Social Security, pensions, and legacy goals
Smart questions to ask
Do I need guaranteed income, growth potential, principal protection, or liquidity?
What fees, caps, participation rates, or surrender charges apply?
How soon do I need income, and how much access should I keep?
How does this fit with my broader retirement plan and tax situation?
Often a good fit for
Retirees and pre-retirees who want a clearer plan for living on accumulated money
People worried about outliving savings or market volatility
Households that want to compare guarantees before moving money
The pension was the greatest retirement check ever invented.
For most of the 20th century, retirement was simple: you worked, you retired, and a check showed up every single month for the rest of your life. No spreadsheets. No market timing. No fear of running out. That check was a pension, and it remains the gold standard of retirement income.
Here's the secret most people never learn:
Pensions are funded with annuities. When a corporation, a state, or the federal government promises to pay a retiree for life, they don't keep that money in a checking account hoping it lasts. They hand the obligation to an insurance company — through what's called a group annuity contract — and the insurance company guarantees the lifetime payments.
General Motors, 2012
Transferred $25 billion in pension obligations covering 110,000 retirees to Prudential — funded entirely through a group annuity.
Verizon, 2012 & 2018
Moved over $8.5 billion in pension liabilities to Prudential, converting corporate promises into annuity-backed lifetime checks.
IBM, Lockheed Martin, AT&T
Each transferred billions in pension obligations to insurers like MetLife and Athene — the same insurers that sell annuities to individuals like you.
State & federal plans
Public pension boards routinely use annuity contracts to lock in guaranteed payouts for retirees, especially as long-term liabilities grow.
You can build your own pension. The same way they did.
Most workers today will never receive a traditional pension. The 401(k) replaced it — and handed every employee the job of being their own pension manager, actuary, and investment committee. That's a heavy burden, especially in retirement.
But here's the good news: the same insurance companies that fund corporate pensions sell annuities directly to individuals. You can take a portion of your 401(k), IRA, or savings and convert it into a personal pension — a check that arrives every month for the rest of your life, regardless of what the market does.
A quick real-world example:
A 65-year-old who places $250,000 into a single-premium immediate annuity in today's rate environment can typically generate roughly $1,600–$1,900 per month for life — and a joint version continues paying as long as either spouse is alive. That's a self-made pension, funded by you, backed by an insurer, paid until the day you stop needing it.
You don't have to annuitize everything. Most plans Michael builds use annuities to cover the essential bills — housing, food, healthcare, utilities — so the rest of your portfolio can stay invested for growth, legacy, and freedom.
Want to see what your personal pension could look like?
Michael will model real numbers using your age, savings, and income goals — and show you exactly how much guaranteed lifetime income your money could generate.
Bring these numbers to your first conversation.
These prompts help make your recommendation more accurate and save time when comparing carriers or product types.
Two accounts. Same dollars in. Which would you pick?
11 quick rounds. Pick a winner each round. We'll keep score and reveal what each account actually is — with real-life scenarios.
See what a personal pension would pay you
Tell Michael your age, the amount you're considering, and when you'd want income to start. He'll come back with side-by-side annuity illustrations from top-rated carriers.
Free consultation
Not sure where to start?
Bring your questions, existing policy details, and goals. You’ll leave with clearer next steps, even if now is not the right time to buy.
Keep exploring
Related resources worth your time
The honest annuity Q&A
Every common objection answered in plain English — including the fair ones.
Read moreFee Reveal
What annuity fees actually look like vs. mutual funds and managed accounts.
Read moreAccount Showdown
Where annuities win, where they lose, and what to compare them against.
Read moreRetirement Income Planning
How (and whether) an annuity fits into a complete income plan.
Read more