After tax advantages, there are a lot more reasons to invest in an annuity.
1. Income guaranteed: Regardless of how long you live, an annuity can provide you lifetime income. This is the only investment vehicle that can provide this.
2. Contributions are unlimited: With an annuity you have NO limits to how much money you can invest over the course of the year. You also can choose to invest funds in one lump sum or in installments to better suit your needs.
3. Bonus rates: Certain annuities will offer bonuses, for instance, extra interest to help boost the annuity’s principal.
4. No loss risk: Annuities performance is based on the the stock market teatment of mutal funds. The performance is at limited risk, unlike stocks.
5. No probate: Your assigned beneficiaries will find it easy to receive the funds of your annuity upon your death. No probate is needed as long as you have specified your beneficiaries.
6. Shelter earnings: Most investments can cause taxation of Social Security benefits. However, with annuities you can shelter your investment earnings.
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