Interest earned in a deferred annuity (the most popular type) is not taxed until withdrawn. Deferring taxes accelerates savings growth because interest compounds faster without withdrawals needed ...

A deferred annuity is a long-term contract with an insurance company that provides future income—often for life—in exchange ...

But if you want to make a large, lump sum withdrawal or cancel your contract altogether, it gets more expensive. Variable annuities usually include a surrender charge. This is a penalty for taking ...

The period you make contributions to a fixed annuity is referred to as the accumulation phase, and the period in which you make withdrawals is called the distribution phase. Fixed annuity ...

It’s no secret that financial stability and a steady income are essential when planning for retirement. This is where annuities can come in handy. However, one common downside to annuities’ liquidity ...

Taking a lump sum from your pension can be a fantastic way to pay off your mortgage, help out the kids or boost your savings.

Gainbridge annuities don't have upfront sales charges or administrative fees. However, withdrawal fees and surrender charges may apply if you withdraw above 10% of your account's value per year.

Most annuity companies allow you to cash out, or surrender, the contract for its current value, or withdraw a portion of the accumulated funds before income payments begin. However, surrender ...

Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic ...

The non-qualified version provides no upfront tax deduction, but later withdrawals can be tax-free. When the annuity owner begins receiving regular income from the account—known as the payout ...

Many retirees are worried about inflation, but there are solutions. Discover how to plan for inflation and protect your ...