Why get deferred annuity loans?
Since a person will only be able to withdraw the funds soon as he reaches 59.5 years old, instead of withdrawing the funds immaturely, which is subject to severe penalties and taxes, opting to borrowing money or getting a loan is the best method in having access to the funds without losing money unnecessarily. In other words, deferred annuity loans are free from any taxes. But before deciding to get deferred annuity loans, the person should still consult first a tax advisor. Though the allowable amount that can be loaned depends on the company, usually a person can borrow money up to $50,000 from deferred annuity loans. If a person plans to get a primary residence, then deferred annuity loans will be a good way. Many insurance firms provide extension for the payments of loans utilized to purchase real estate. The payment period is usually around twenty years. The catch However, deferred annuity loans also come with terms and conditions. The borrower should repay the loan within the agr
