CGA Financial Services wants you to make an informed decision when you consider the purchase of an annuity. Annuities are an excellent tool to help you plan for your financial security. We can assist you in making the decision that is right for you. Annuities offer a variety of benefits including tax-deferred growth, ability to avoid probate, and lifetime income.
Tax-deferred growth allows your money to grow faster because you earn interest on dollars that would otherwise be paid as taxes. Your principal earns interest, the interest compounds within the contract, and the money you would have paid in taxes earns interest. The chart to the right shows the impact of a tax-deferred annuity.
May Avoid Probate
Annuities offer the ability to name a beneficiary, which may minimize the expense, delays, and publicity that comes with probate. Your named beneficiary may receive death proceeds as either a lump sum or monthly income.
North American can provide you with a guaranteed income stream with the purchase of a tax-deferred annuity. You have the ability to choose from several different income options, including life or a specific period. With non-qualified plans, a portion of each income payment represents a return of premium that is not taxable, reducing your tax liabilities.