annuity

But while annuities can now be included as an option in retirement plans, they legally aren’t allowed to be an employer-suggested default; Congress still has to authorize it.

In turn, they can help consumers ensure that they have adequate protected income by providing guidance on when to declare Social Security benefits and whether to purchase an annuity.

Nonqualified accounts include common bank accounts, brokerage accounts, and some tax deferred accounts for which you get no tax deduction upon contributions like certain annuity contracts.

It is exceedingly difficult for insurance customers to know if the money they put away in a policy or annuity has been shifted offshore.

It counts more than four million customers and sold more than $41 billion of insurance and annuities last year.