By |Published On: June 25th, 2024|Categories: Finances, Taxes|1 min read|

Whether you’re looking to protect your loved ones or ensure a steady income stream in retirement, understanding the nuances of life insurance and annuities is essential for making informed decisions about your financial well-being.

Here’s a brief introduction to some of the key differences between Life Insurance and Annuities. If you’re ready to learn more, you can schedule your free consultation with any of our financial advisors.

Life Insurance

  • Pays out at time of death

  • Provides income to dependents
  • NOT considered taxable income
  • Allows individuals to invest on a tax-deferred basis

Annuities

  • Pays out over lifetime
  • Provides income stream to policyholders

  • Qualified annuities are taxable, and non-qualified annuities are not taxable
  • Allows individuals to invest on a tax-deferred basis

Content provided by Gainfully, Inc. A White Glove company.

Liked this story? Share it with someone!

Join over 3,000 RetirementHelp.com Users

Become Part of Avada University to Further Your Career.