What are the tax advantages of an annuity?
Deposits into an annuity are not tax-deductible, however you don't have to pay taxes on the interest earned until you begin making withdrawals. This tax-deferral period can have a dramatic effect on the growth of an investment. Use this calculator to compare the tax advantages of saving in an annuity versus an account where the interest is taxed each year such as a CD.
The results and explanations generated by this calculator may vary due to user input and assumptions. Guaranty Income Life Insurance Company and United Life Insurance Company do not guarantee the accuracy of the calculators, results, explanations, nor applicability to your specific situation. We recommend that you use this calculator as a guideline only and you ultimately seek the guidance of an experienced professional.
