Benefits of Annuities

Tax-Deferred Growth: An annuity is a long-term financial product where interest accumulates tax-deferred. Because you do not pay taxes on annuity assets until you access the proceeds in your contract, your money grows tax-deferred. As a result, you may be able to accumulate more money than a traditional taxable product earning the same rate of return.

A Guaranteed Income: An annuity is the only product that can pay a guaranteed income for life.

May Avoid Probate: Generally, the accumulation value will bypass the costs and delays of probate, therefore more of your money will go to your beneficiaries. When the owner of the annuity dies, the accumulation value or the guaranteed minimum value (whichever is greater) will be paid to the named beneficiary.

A Guaranteed Death Benefit: Generally, annuities also offer a death benefit. While the types of death benefits differ among products, annuities allow you to pass the proceeds of the contract directly to a named beneficiary, avoiding the delay and expense of probate.

Depending upon financial goals, need for income, and other considerations, individuals may choose a fixed, indexed, deferred, or immediate annuity. If you're considering purchasing an annuity, it is important to consult with your financial professional for insight into the options and objectives which are best suited for you. Be sure to carefully review disclosure information when making financial decisions.

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