With an annuity you get a tax-deferred investment backed by the full faith & credit of the underlying insurance companies. One of the primary advantages of an annuity is that earnings are tax-deferred which means you don't pay taxes on your gains until withdrawal, when your tax rate may be much lower. The result is faster growth, with the potential to keep far more of what you earn in the end. Annuities also allow you to choose a payout option - a lump sum, income for life, or income for a certain period of time. Depending on your risk preference, you can choose between fixed rate and variable annuities. Fixed rate annuities offer a fixed rate of return for a specified period of time*. Variable annuities offer a variety of investment options, including subaccounts with equities, bonds or money market accounts**.

* Withdrawals made prior to age 59 1/2 may result in an IRS penalry.
** You should consider a variable annuity's risks, charges, and expenses carefully before investing. Contact your Financial Advisor to request a prospectus, which contains this and other information about a specific variable annuity. Read it carefully before you invest.
Past performance is no guarantee of future results. Investment return and principal value of a variable annuity will fluctuate, causing shares, when redeemed, to be worth more or less than their original cost. Withdrawals made prior to age 59 1/2 may result in an IRS penalty.

Securities are offered by and Financial Consultants are registered with UVEST Financial Services, member NASD/SIPC. UVEST is independent of any financial institution. Members of the First Niagara Financial Group, Inc. do not offer tax advice. Please consult a tax advisor.
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