Annuity Products
What Is an Annuity?
An annuity is a long-term, interest-paying contract
offered through an insurance company. An annuity can be “deferred”
as a means of accumulating income while deferring taxes, or it can be
“immediate” and pay you an income now as long as you live.
What Is a Deferred Annuity?
A deferred annuity delays your income stream, accumulating
interest without earnings being taxed until withdrawn. People often purchase
deferred annuities during their working years in anticipation of the need
for retirement income later in their lives.
What is an Immediate Annuity?
An immediate annuity pays you an income stream immediately.
People often purchase immediate annuities with a single premium payment
or convert their deferred annuities during their retirement years when
a consistent stream of income is desired.
Purchased with a series of premium payments or a single premium, generally from current income savings, bonus or inheritance.
Accumulation period usually lasts for years, but it can be as short as one month.
Used to accumulate funds for long-term goals, such as retirement
Purchased with a single premium, generally from rollover of assets from IRAs, company retirement savings or inheritance.
No accumulation period. The annuity payments usually begin no later than one year after the annuity is purchased.
Used to generate an immediate and consistent stream of income that can be guaranteed for life, or designed to match your retirement goals.
Taber Brokerage Services offers a complete line of annuity products. Call us today 405.235.4610 or 800.627.3100.