Annuities are long-term financial contracts between a policy/contract owner and an insurance company.
Annuities are insured by the claims paying ability of the insurance company.
Lifetime income could be a big positive for an annuity, but there are likely surrender charges and potential tax penalties for early withdrawal of the assets.
Annuities are long-term financial contracts between a policy/contract owner and an insurance company.
Annuities are insured by the claims paying ability of the insurance company.
Lifetime income could be a big positive for an annuity, but there are likely surrender charges and potential tax penalties for early withdrawal of the assets.