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Tax Annuities
As a tax-defered annuity, allows you to defer paying income taxes on the money
you earn within your annuity until you withdraw it. This means your premium
earns interest. Your interest earns interest. And, the money you would have paid
in taxes earn interest. Plus, when you annuitize your your contract and begn
receiving a series of income payments, you may be in a lower tax bracket, and
your income may be subject to less tax. The power of compounding tax-deferred
interest over long periods of time can be substantial. With an interest rate of
6%, a premium of $10,000 can grow to more than $57,000 in 30 years.
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