What are the advantages of owning a deferred annuity?
A. Annuities have several advantages, including: • Earnings grow tax-deferred. • No annual tax reporting until you withdraw your annuity earnings. • Unlimited contributions. • Based on your contract value, you can choose a payout option that guarantees income for life to help meet your retirement income needs. • No forced distribution at age 70 . • Undistributed earnings will not reduce Social Security benefits. • Usually avoids the delays and costs associated with probate. • If provided in the contract, a death benefit that guarantees your beneficiaries will never receive less than your original investment (less withdrawals).
