A deferred Annuity means your Taxes are not payed until you start taking money out of the account, tax-deferral. All Annuities have this tax deferral so it does not matter what kind of Annuity you get.
An annuity is a contract between you and an insurance company. The annuity will credit money to your account according to the method which comes with the Annuity.
There is so much more you need to know about annuities before you get one so please follow up with your Broker or contact me if you do not have one.
In Canada, a deferred annuity contract is referred to a Segregated Fund or Guaranteed Investment Fund (GIF) when the investment is in equities a "Variable Annuity". When the investment is interest based (Daily, 5 year, etc.) it is often referred to as a GIA or Guaranteed Interest Annuity.
You can find additional information at www.jpw.ca
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An annuity is a contract between you and an insurance company. The annuity will credit money to your account according to the method which comes with the Annuity.
There is so much more you need to know about annuities before you get one so please follow up with your Broker or contact me if you do not have one.
You can find additional information at www.jpw.ca