Tax-deferred growth - Taxes on earnings or interest from investments in all types of annuities are deferred until withdrawal. Also, if you are investing through your worksite plan, taxes on contributions you make to your annuity are deferred until withdrawal. This means your money in an annuity will grow faster than in a taxable account. Taxes are payable upon withdrawal and federal withdrawal restrictions and an early withdrawal tax penalty may also apply. Partial or full surrenders may, depending on the annuity contract be subject to a surrender charge.

Flexible retirement income options that fit your individual lifestyle.

If you are investing through your worksite plan, contributions to an annuity contract can qualify to be tax-deferred, subject to applicable contribution limits and related rules. That tax deferral is a result of issuing the contract, which satisfies specific important tax law requirements, including plan requirements, under your employer's retirement plan. It does not result from the mere fact that the contract is an annuity. Consequently, you don't receive any additional tax-deferred treatment of earnings beyond the treatment provided by the tax-qualified retirement plan itself.