What Is Meant By Deferred Annuity? 
A deferred Annuity simply means that any taxes you would normally pay on growth is deferred until such time you withdraw the monies . Annuities are designed , similar to other retirement accounts such as IRA & 401 -LRB- k -RRB- , to grow tax deferred until age 59 1/2 when you can take the money out penalty free . 