The primary purpose of a deferred annuity policy is to provide a safe, systematic accumulation and distribution of money under guaranteed contract provisions.
- Single or multiple premium payments for varying amounts can be made at any time
- Annuity cash value accumulations are always available upon request by the policy owner.
- In event of death, proceeds pass directly to the named beneficiary avoiding delay, estate settlement costs and publicity.
- Income tax is deferred on annuity accumulations until funds are withdrawn from the policy. interest is credited on both the interest earnings and savings.
- An annual statement is provided to the annuity owner following the end of each calendar year.
Below are the following programs Annuity Contracts can be used to provide.
- Traditional Individual Retirement Annuities (IRA)
- Roth IRA’s
- Tax Sheltered Annuities (TSA)
- Simplified Employee Pension (SEP)
- C.D. Alternative
- No Market Risk
- Call protection – An annuity can’t be called, but a high yield bond will be called in a low rate environment
- No default risk
- Taxes are deferred – you decide when to pay the taxes
- 10% FREE WITHDRAWAL annually
- Competitive interest rates with guaranteed minimum rates.