ALL >> Investing---Finance >> View Article
Withdrawal Can Be Postponed In Case Of Deferred Annuity
Is dependency after retirement becoming the main reason for you to worry about?Get rid of your trouble-ridden life and enrol into the schemes of annuity. You will automatically see and feel the difference. As soon as you enrol into these schemes, you will start feeling independent in financial terms. Then you will realise how appropriate your decision was when you opted for the annuity schemes. Well, the annuity schemes are available in several forms. Two of the broad classifications are – immediate annuity and deferred annuity. In this article, however, it is the deferred annuity that has been discussed in details.
Annuity is an agreement between an individual and an insurance company. Similar is the procedure when it comes to the deferred annuity. You need to pay a lump sum at once or make payments in the form of instalments to buy an annuity scheme. To be clear, however, it can be said that using deferred annuity gives the annuitant a fair opportunity to accumulate money to live comfortably during their retirement years. If there is some time in your retirement, it is advisable to you to start saving ...
... soon in your annuity account. The best thing about the deferred annuity scheme is that you are free to postpone the withdrawal of money till the time you desire.
Some of the benefits of investing in deferred annuity are as follows:
You can postpone the payment of taxes to the time when you start withdrawing money from the account. Before that, you don’t need to pay anything.
In case you wish to transfer your funds to some other location, you can conveniently do so without having to pay any tax for whatever you have earned for so long. This non-taxable transfer makes the deferred annuity scheme more preferable as it allows tax-free relocation of funds based on the changing market conditions.
The IRA or Individual Retirement arrangement has some limitation as far as making contribution to an account is concerned. But in case of deferred annuity that is facilitated by the Internal Revenue Services or IRS, no such restrictions are posed.
Death benefits are offered to the heirs, which no other scheme is found to offer.
It becomes an additional source of income for the retired individuals.
Choose the way you want to receive the income through deferred annuity. If you desire you can avail the financial facilities for life or if you wish you can limit the range of time till which you want to receive the amount.
Now when you know the benefits of the tax deferred annuity or deferred type of annuity, it is will be easier to justify yourself on choosing this annuity scheme.
Add Comment
Investing / Finance Articles
1. The Investor Co - Trade With ConfidenceAuthor: Taramalhotra
2. A Deep Dive Into The Leading Investment Banking Firms In Hyderabad
Author: Verity knowladge solutions
3. Can Foreigners Buy Property In Ajman?
Author: tarek
4. When Will Same Day Loans Online Be Paid Into My Bank Account?
Author: Jockey Ferguson is a financial adviser of Fast Pay
5. The Role Of Exclusive Solar Appointments In Accelerating The Solar Revolution
Author: Shan Tait
6. Wills Vs. Trusts: Key Insights For Effective Estate Planning
Author: Daniel Stewart
7. The Impact Of Financial Institutions Groups On Global Markets
Author: Verity knowladge solutions
8. How Property Investment Professionals Drive Long-term Wealth Creation
Author: Rick Lopez
9. Private Company Registration Bangalore | Company Incorporation
Author: mwseo
10. Ecommerce Loan With Overdraft Facility For Your Business
Author: Tarun
11. Does The Online Application Process For A Short Term Loans Require A Credit Check?
Author: Jockey Ferguson is a financial adviser of Fast Pay
12. The Impact Of Customer Reviews On Solar Appointment Leads
Author: Shan Tait
13. What Happens If You Don’t Use Insurance Money For Repairs?
Author: john
14. How To Earn Money Online Without Investment In Mobile?
Author: john
15. Is It A Good Idea To Give Money To Beggars?
Author: john