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Annuities are uniquely designed to provide you guaranteed income for life. It does something that no other product can. But there are many benefits to owning an annuity, including<\/p>\n
As stated above, annuities are designed to do what no other financial product can. Retirement is the time for certainty. Many people turn to annuities to create guaranteed income for the rest of their lives. Sometimes, an annuity can create more income for you and your beneficiaries than other financial alternatives.<\/p>\n
Deferred annuities offer tax-advantaged growth during your working years, reducing your tax liability while your annuity increases in value. Certain annuities also enjoy favorable taxation at the time of distribution\u2014when income payments begin.<\/p>\n
If you choose a specific kind of annuity, called a joint and survivor annuity, it will continue to make payments, once you die, to your surviving spouse for the rest of his or her life. Annuities can also be set up to continue payments to another beneficiary, such as a grandchild, making it a unique financial tool for passing on wealth to heirs.<\/p>\n
The proceeds of an annuity go directly to your beneficiaries, without the need for probate, which is a court-supervised proceeding, leaving the terms of your annuity private and hassle-free. Any cash value is generally insulated from any other claims or creditors.<\/p>\n
Annuities offer flexibility based on your goals and wishes. Many deferred annuities allow limited access to the cash value during growth and accumulation years, and some annuities can also be converted to other products, such as a product designed to manage long-term medical expenses.<\/p>\n
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Annuities are uniquely designed to provide you guaranteed income for life. It does something that no other product can. But there are many benefits to owning an annuity, including Guaranteed income for life As stated above, annuities are designed to do what no other financial product can. Retirement is the time for certainty. Many people […]<\/p>\n","protected":false},"author":39,"featured_media":0,"parent":19384,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-20533","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\n