Icing on the Cake: The Tax Benefits of Annuities
August 16, 2021 by Michael Finke
Everyone knows that insurance products are designed to provide financial support if you experience an unexpected loss. Annuities are insurance products designed primarily to protect against the loss of outliving your savings in retirement, an increasingly common risk facing millions of Americans. To encourage consumers to protect themselves against this risk, annuities have tax benefits that can make them more attractive than traditional investments held outside of a tax-sheltered retirement account.