Because the money in your annuity accumulates on a tax-deferred basis, you don’t pay taxes on any earnings until they are distributed. That means more of your money remains available to benefit from potential investment earnings.
Variable annuities offer a range of investment choices that span various asset classes and investment styles, and that are managed by experienced investment managers. You can pursue your investment goals by creating an investment mix from available options.
Variable annuity protection benefits include a choice of guaranteed death benefit options that allow you to select the type of death benefit (within contract limits), your beneficiaries, and the way in which the death benefit will be paid. In addition, certain “living benefits” may be available with a variable annuity (for an additional charge) that provide some level of guaranteed asset or income protection during your lifetime.
When it’s time to begin receiving income from your annuity, you have several options to choose from, including systematic withdrawals and annuity options that can guarantee income for life or for a period of time you choose.