Fixed/Variable Annuities
Annuities are popular for those needing tax deferral and/or income. They provide means for funds to be accumulated tax deferred before retirement and then provide a source of income after retirement. A 10% IRS penalty may apply to withdrawals prior to age 59½.
Fixed Annuities have a specified rate of income guaranteed (based on the claims paying ability of the issuer) by an insurance company for a specific period of time and therefore involve less risk than some other types of investing.
Variable Annuities provide an investment opportunity that combines tax-deferral with the benefits of investment funds. The investor chooses from a selection of managed investment portfolios consisting of stocks, bonds, global investments and guaranteed fixed rate accounts.
Variable annuities are sold by prospectus. The Prospectus contains additional information that investors should consider carefully such as the investment objectives, risks, charges and expenses. A prospectus is available from an Investment Executive. Read carefully before investing or sending money |