FINANCIAL MISTAKE: Ignoring annuities with an enhanced death benefit as an alternative to an expensive life insurance policy.
Annuities with Enhanced Death Benefits
Fixed indexed annuities are primarily for accumulating interest and/or providing retirement income These are not life insurance policies, but they do have a death benefit. For someone not wanting to pay a premium for life insurance and who has savings available, a tax-deferred* annuity can be a very efficient vehicle to pass assets to beneficiaries.
The death benefit in most fixed annuity contracts is often the cash accumulation value, but some annuity contracts offer enhanced death benefits (a death benefit which may be considerably higher than the cash accumulation value of the annuity). Below are some guidelines about the death benefits in fixed annuities:
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*We are not tax advisors and so not give tax advice.
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