The tax deferred annuity is an extremely popular savings and investment plan for individuals who want to save on a tax deferred basis for many years. With a tax deferred annuity, you invest your money to earn interest on the total amount being built up, with all taxes deferred until you start taking the money out. The process of earning interest over a long period of time without any tax deductions compounds your wealth greatly compared to traditional CD and savings plans.
Investors that create a tax deferred annuity have several options in the way they fund the investment, depending on their personal objectives and circumstances. A tax deferred annuity can be funded with a single lump sum (known as "single premium"), while other options for
instalments are also available (known as "flexible").
The tax deferred annuity is provided as a retirement vehicle by major insurance companies, who utilize financial planners, employers, and retirement specialists to introduce the benefits direct to individuals. The tax deferred annuity is safe, as an approved life insurance company is required to hold reserves that at all times equal the withdrawal value of your annuity policy. In addition, state law requires certain levels of surplus capital also be available to increase your protection. The legal reserve for a tax deferred annuity refers to the strict legal requirements that must be maintained by insurance companies to protect and safeguard your assets at all times. For many working individuals, a tax deferred annuity makes up the cornerstone of a safety-first retirement plan, being the natural progression once 401k, SEP or IRA contributions are maximized. For individuals in retirement, the tax deferred annuity can be utilized to continue to defer taxes in preparation for the time when that money will needed to supplement or provide a dedicated stream of lifetime retirement income.
affordable and tax deferred annuity quote available for the following states in the USA:
Alabama - AL, Alaska - AK, Arizona - AZ, Arkansas - AR, California - CA,
Colorado - CO, Connecticut - CT, Delaware - DE, District of Columbia - DC,
Florida - FL, Georgia - GA, Hawaii - HI, Idaho - ID, Illinois - IL,
Indiana - IN, Iowa - IA, Kansas - KS, Kentucky - KY, Louisiana - LA, Maine
- ME, Maryland - MD, Massachusetts - MA, Michigan - MI, Minnesota - MN,
Mississippi - MS, Missouri - MO, Montana - MT, Nebraska - NE, Nevada - NV,
New Hampshire - NH, New Jersey - NJ, New Mexico - NM, New York - NY, North
Carolina - NC, North Dakota - ND, Ohio - OH, Oklahoma - OK, Oregon - OR,
Pennsylvania - PA, Rhode Island - RI, South Carolina - SC, South Dakota -
SD, Tennessee - TN, Texas - TX, Utah - UT, Vermont - VT, Virginia - VA,
Washington - WA, West Virginia - WV, Wisconsin - WI, Wyoming - WY.