An annuity is an insurance product that provides a tax-deferred fixed income stream for people seeking the security of protected income for life. Although annuities generate income — and some types of annuities offer growth potential. These products appeal to people whose objectives include long-term financial security, retirement income, diversification, and principle preservation.
What can an annuity do for you?
Annuities help you increase savings because you won't pay taxes on growth until you withdraw money.
An annuity has the potential to grow your money while also helping manage risk of loss.
Annuities provide a level of protection to help manage market risk.
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