Why Do People Purchase Annuities?
- 0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaAssuming you’re addressing non-qualified annuities, people purchase annuities for a variety of reasons: tax deferral, lifetime income you can’t outlive and interest rates that beat the bank. But you first need to establish a personal financial profile that includes a risk tolerance assessment, defined financial goals, an estimate of your life expectancy and a determination of your effective tax bracket. This will assist you in your product suitability self-examination. The higher the effective tax bracket rate, the more you should explore annuities. The power of tax deferral can be significant over many years.Answered on June 23, 2013+01 0+1 this answerflag this answerview more answers by David Racich
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