Today’s simplified variable annuities
Over the last few years variable annuities became more complex and expensive, but now some insurers are offering products that have fewer bells and whistles, are easier to understand and have lower fees. Variable annuities were originally introduced as a tax-deferred way to save for retirement in mutual-fund-like accounts, but as more people gained access to 401(k)s, IRAs and other tax-deferred investments, insurers started to focus on providing income guarantees rather than just tax-deferral. Now a few companies have gone back to basics and are offering low-cost annuities but here are pros and cons to this type of investment. Read article here for more details.
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