 |
 |
Annuities |
 |
Annuity: This is a contract with an insurance company that you agree to deposit a specific amount of money with that insurance company. The insurance company agrees to pay a fixed rate of interest on your funds, as long as the contract exists. The interest you earn accumulates as tax deferred. Also available are variable annuities which pay a variable rate of return. Withdrawals are taxable and if you withdraw from the account prior to age 59 1/2 a tax penalty may apply and there are federal restrictions.* Learn more about annuities here.
|
|
|
|  |
|
|
