AccuQuote Explains Five Reasons Why Annuities Can Be Useful Savings Tools
AccuQuote, a leader in providing term life insurance quotes to people across the United States,
explains five reasons why annuities can be useful savings tools in today’s economic state.
Wheeling, IL (PRWEB) December 21, 2009-- AccuQuote, a leader in providing term life insurance quotes to
people across the United States, explains five reasons why annuities can be useful savings tools in today’s
economic condition, especially when other savings tools may not offer the best return.
“Over the past couple of years, we’ve witnessed dramatic and disturbing drops in the stock market and home
values. In an effort to reduce losses, many people have moved their money into investments that are not subject to
stock market fluctuations such as certificates of deposit (CD’s), savings accounts and money markets,” says
Byron Udell, founder and CEO of AccuQuote. “Unfortunately, the interest rates on these investments are very
Annuities offer consumers a way to earn more and keep more without taking needless risks. Udell explains five
reasons why annuities can be useful savings tools:
1. Low Risk – Unlike many savings tools, annuities are not subject to stock market fluctuations. In fact, they
are often compared to CD’s because they allow your money to grow safely with low risk. And historically, they
have often exceeded the average rate available on bank CD’s.
2. Guaranteed Rate of Interest – Some annuities are currently guaranteeing as much as three to four percent
interest for as long as five years.
3. Tax Deferral – Annuities earn interest on a tax-deferred basis. This means that, unlike CD’s, money markets
and savings accounts, you don’t pay tax on the interest you earn until you decide to withdraw the money.
4. Lifetime Income – When you are ready to retire, you have the option to elect a lifetime monthly income that
you cannot outlive. No other financial product can deliver this important benefit.