Annuities

Traditional Annuities
An annuity is a contract between you and an insurance company, which provides for future income payments in exchange for your investment now. They are long-term investment vehicles that make excellent retirement savings products since any earnings grow tax-deferred. 

Traditional annuities provide:

• guaranteed interest rates
• low administrative fees 
• allows flexible withdrawal options tailored to individual needs 

Variable Annuities 
A variable annuity offers you the flexibility of investing in one product with multiple investment options. You can select the options to match your investment strategy. As personal needs or outside economic conditions change, you can change your investment options without incurring immediate tax consequences.

• Variable annuity values fluctuate according to the performance of the investment options you choose. 
• Any earnings grow tax-deferred and are subject to ordinary income taxes only when you take a distribution from your policy. Withdrawals prior to age 59 1/2 are subject to a tax penalty. 
• Unlike other tax-deferred retirement products, there is no annual contribution limit. 

For more information call 877-956-6400 or email skovich@provisionsconsulting.com