BetterLife’s Advantage 50 Annuity may be a good place for you to store funds from a large inheritance, proceeds from selling your home, or a large sum of cash that you want to hold onto until retirement.
The Advantage 50 Annuity is a single payment deferred annuity. It is purchased with a single lump-sum premium payment and payouts do not begin until a designated time in the future. Because you are deferring annuity payouts to a later date, you are also deferring tax payments on any interest your annuity earns. Interest will not be taxed until the time it is withdrawn.
*Withdrawals are subject to income tax, and most withdrawals made prior to age 59 1/2 are subject to a 10 percent IRS penalty. Guarantees are backed by the financial strength and claims-paying ability of BetterLife.
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