The key features unique to Annuities are:
#1 interest earned is not taxed throughout the accumulation period.
#2. Distributions are fully guaranteed and have multiple options such as period certain, lifetime of the annuitant among others
#3. Unlike qualified plans such as an IRA, an annuity owner can also chose to not take distributions and let the funds in the annuity pass directly to their beneficiary.
Other products have some of the features of annuities however only annuities combine the features outlined here..
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#1 interest earned is not taxed throughout the accumulation period.
#2. Distributions are fully guaranteed and have multiple options such as period certain, lifetime of the annuitant among others
#3. Unlike qualified plans such as an IRA, an annuity owner can also chose to not take distributions and let the funds in the annuity pass directly to their beneficiary.
Other products have some of the features of annuities however only annuities combine the features outlined here..