Variable Annuities
With funds invested in sub-accounts tied to the market, you’ll have the opportunity to accumulate money – tax deferred. When you retire, you could turn that money into an income stream.
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A variable annuity is a financial product that has sub-accounts tied to the market. The performance of those investments will determine the amount of your retirement income payments.
Higher gains will likely translate into higher payouts, while lower gains—or losses—will likely result in smaller payouts. Variable annuities may be less predictable than fixed annuities, but they have the potential to deliver greater financial performance.
Because they are typically long-term growth platforms, they are classified as:
Deferred
Your retirement income payments will begin in the future, usually when you retire.
Variable annuity features
Investment growth potential
Variable annuities let you choose from a variety of investment options within your contract. Your investment performance is based on market performance.
Tax-deferred growth
Just like a 401(k) or traditional IRA, a variable annuity’s earnings are tax-deferred. That means they aren’t taxed while you’re contributing to it, and that may result in higher growth.
Retirement income
Like other annuities, a variable annuity could provide ongoing income payments during retirement.
Standard death benefit
Most variable annuities also offer a standard death benefit that’s paid to your beneficiaries if you pass away before your payouts begin.
