(1) Accumulate in a tax-deferred manner, and (2) provide a steady stream of income to the annuitant and if designed so, to the annuitants’ beneficiaries.
The annuities offered by S & R Insurance Services can assist in solving some of our clients’ most vexing problems, such as:
a. Outliving your money.
b. Paying for an extended stay in a nursing home or adult living facility.
c. Providing indexed returns without risk.
d. Ensuring funds bypass probate.
e. Funding Estate Plans and wealth transfer plans.
f. Avoiding unnecessary taxes on social security and other asssets.
g. Providing a guaranteed income that can be projected and planned for.
h. Providing income that can increase if inflation increases.
This is different from most savings programs, in that the annuity is contractual in nature. It is a private contract between you and the insurance company, where the company guarantees both the death benefit and the income stream. If used properly annuities can be designed to not only bypass income taxes to its beneficiaries, but also provide critical income for a surviving family member or spouse.