Each period has its own guaranteed rate of return. At the end of the guarantee period, you can decide to renew for the same time frame, select a new one, or start receiving income payments. You can also withdraw part, or all of your account, with no cost to you. 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.