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What is the big deal about annuities?

Simply stated, an annuity is an account with an insurance company in which the money invested in it accumulates and compounds tax deferred. This affords you to gain tremendous tax control because you pay taxes only when you choose to receive payments, and then only on your earnings, never your principal.

There are generally two categories of annuities: Fixed Annuities and Variable Annuities. A fixed annuity is a tax deferred account with a fixed rate of return, and a variable annuity is a tax-deferred account in which the returns are based on the performance of the underlying investment options.

Key Benefits

  • Tax-deferred accumulation
  • Tax deferred compound earnings
  • You control when you want to pay taxes
  • 100% guarantee of principal and interest (fixed annuities only)
  • Competitive interest rates
  • Can be structured to avoid probate

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