Fixed Interest Deferred Annuities
A Fixed Interest Deferred Annuities is a product that is designed to help you accumulate funds for your retirement. The money in your annuity earns a guaranteed fixed rate of interest (interest rates are effective annual yields) and your money accumulates on a tax-deferred basis, meaning you do not pay taxes on your earnings until you actually withdraw them from your policy. Withdrawals are subject to ordinary income tax, and if they are taken before 59½, an additional 10% tax penalty may apply. Surrender fee’s may also apply.
