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insurance annuity rates

What Is An Annuity?

An annuity is a contract between an individual (annuitant) and an insurance company. The annuitant agrees to pay the insurance company a single payment or a series of payments, and the insurance company agrees to pay the annuitant an income, starting immediately or at a later date, for a specified time period. Under current tax law, money put into an annuity grows on a tax-deferred basis until the annuitant begins receiving his accumulated fund as an income. That means that one hundred percent of your earnings are reinvested in an annuity and allowed to compound -- or grow -- without having to pay taxes on earnings.

Here are some of the features of an annuity you will want to consider before investing:

Tax-Deferred Growth

• Lifetime Income


• Liquidity In Case Of Emergencies


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