Call Us Today:
814.264.3789

Annuities in Altoona PA & Hollidaysburg PA

Keep Your Financial Resources Protected.

H. Dean Allison Insurance understands the value of saving for and investing in your future. If you’re like many Americans, you work diligently each day and take the right steps to ensure that you’ll be supported with a comfortable income after you retire. That’s why it’s smart to have the right coverage options under your retirement plan because in some cases, you can actually outlive your income.

The last thing you’ll want to experience as a retiree is a loss of your financial resources. With an Annuity from H. Dean Allison Insurance, you can ensure that your finances are covered – for a healthy and happy retirement. Annuities are essentially investments that guarantee a steady income stream. Based on your plan, you can receive money either on a set schedule or in a lump sum.

Types of Annuities

H. Dean Allison Insurance can offer two types of Annuities: Deferred and Immediate Annuities.

Deferred Annuities are investments that you make either over a period of time or all at once. Since these Annuities are tax-deferred, you only have to start paying taxes upon withdrawal. Deferred Annuities are either fixed or variable, meaning your payout is either a fixed sum or an amount in accordance to the performance of the market/group of investments.

Immediate Annuities are payments that you can receive right after you make your investment. This type of Annuity is typically for those around the retirement age who want to secure their financial future. Like Deferred Annuities, you only pay taxes upon withdrawal.

Understand Your Investments

An annuity is a long-term, tax-deferred investment designed for retirement. With an annuity, you can create a fixed or variable stream of income. The annuity’s value and growth will vary based on how the investments you choose to fund the annuity (underlying investments) perform.

Just like other types of investments, an annuity has limitations. If you take your money out early, you may have to pay fees called surrender charges. You’ll have to pay income tax on the withdrawal, and if you’re not yet 59½ years old, you may also have to pay a 10% tax penalty. If you do take an early withdrawal, it will reduce both the death benefit your beneficiaries receive and the cash value of the annuity.

An annuity is sold by an insurance company, and the annuity’s guarantees and protections are subject to that company’s ability to pay for them. However, this doesn’t apply to the underlying investments. The underlying investments are subject to market risk, so you could end up with less money than you invested.

An annuity is sold by prospectus, a document that describes the annuity’s objectives, risks, fees and charges. The cost of an annuity often includes mortality and expense charges, administrative fees, contract fees and the expense of the underlying investments. There are prospectuses for the annuity and the underlying investments that fund the annuity. It may take some time, but you should read the prospectuses carefully before investing.

It’s important to discuss your options with a specialist at H. Dean Allison Insurance who is committed to helping you make the right decisions.

Before investing, understand that annuities are not insured by the FDIC, NCUSIF or any other federal government agency, and are not deposits or obligations of, guaranteed by, or insured by the depository institution where offered or any of affiliates. Annuities that involve investment risk may lose value. Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

Our Location

H. Dean Allison Insurance

H. Dean Allison Insurance

218 Logan Blvd
Altoona, PA 16602
Main office: 814-264-3789
Fax: 814-943-0957

Office Hours:

Mon: 8:00 AM - 4:30 PM
Tues: 8:00 AM - 4:30 PM
Wed: 8:00 AM - 4:30 PM
Thurs: 8:00 AM - 4:30 PM
Fri: 8:00 AM - 12:30 PM
Sat: Closed
Sun: Closed

Our Providers

Testimonials

"We had been with a company for over 30 yrs and when we met Andrew Myers he wanted to know if we were interested in changing insurances. We were skeptical at first but we had him draw up papers. Make a long story short we switched. My kids also switched. We were shocked at the savings. It was easy, quick, and Andrew's team did all the work. Thanks Andrew, for all the help!"
- Janis Rubine
“I thought I had the most affordable and comprehensive insurance option out there. Wrong! Andrew Myers and his team at H. Dean Allison Insurance Agency not only beat all other competitors, they went out of their way to walk through details of my coverage as one friend to another. All this was accomplished during times that fit into my schedule. Top notch!”
- Scott Sanker
“H.Dean Allison Insurance Agency was able to save us a good amount by switching. We also had not thought about it before. It's definitely worth having them take a look at your info to see what they can do for you.”
- Jonny Hasson
"I will be honest, insurance confuses me. It is one thing that flies over my head. I am proud and glad to say I do business with a group of professionals that sincerely care about my well being. I had the same insurance for years, but now with a simple switch, I have saved hundreds of dollars. Not only did I switch, but my entire immediate family met with the group and made a switch, saving them money as well. Trust me, you won't be disappointed working with these fine individuals."
- Jared Pufka