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A variable annuity is a contract between you and an insurance company. It allows you to grow your retirement savings and receive a steady stream of payments later. Like all annuities, you agree to ...
Pros and Cons of Variable Annuities. As with any investment, there are advantages and disadvantages to putting your money into a variable annuity. Here’s a rundown of the pros and cons.
3. Tax-deferred growth. Money inside an annuity grows tax-deferred. Gains on the amount of premium invested in the contract grow with no taxes due until the money is withdrawn, assuming the ...
Annuity type. Features. Pros. Cons. Fixed. Minimum interest rate set for one to 10 years. Stable supplemental income from predictable payments. Lower investment returns than other types of annuities.
Annuity. In investment, an annuity is a series of payments made at equal intervals. [1] Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.
Many annuity companies have relatively low minimum premiums, often as low as $2,500 to $5,000 for some types of fixed annuities and around $10,000 to $15,000 for variable annuities.
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