Although annuity contracts can only be issued by an insurance company, you can purchase them from a variety of licensed sources such as banks, brokers, and agents. Your financial advisor can help you determine which companies offer the investment options that best suit your goals. For rollover information, click here . For prospectuses containing more complete information regarding registered products, including charges and expenses, click here . Read them carefully before you invest or send money.
Variable annuities are long-term investments designed for retirement purposes.
Money distributed from the annuity will be taxed as ordinary income in the year the money is received. If you are considering an annuity for an IRA, you should know that an annuity does not provide any deferral of taxation on earnings beyond what the tax laws provide to IRA's generally. However, the other features of these annuities may be valuable to you. You should discuss your alternatives with your financial representative.