How safe is TSA 403 (b) Fixed annuity? Is TSA 403 (b) Fixed annuity insured ?
That depends on your particular annuity.
It would depend on weather it is an immediate or a differed annuity contract. An immediate annuity would provide guaranteed income for a specified number of years or over the life time of the insured regardless of how long the annuitant lived. A deferred annuity provides for long term tax deferred growth and if its not in a qualified plan the annuity holder is not limited to the amount deposited each year.
As a general rule, life insurance policies in the US are not taxable. However it is taxable if it is combined with a non-refund life annuity.
There isn't a real difference between life annuity and an insurance annuity. Both are a form of life insurance and deal with the same issues. I would go with either one.
In the United States an annuity contract is created when an insured party, usually an individual, pays a life insurance company a single premium that will later be distributed back to the insured party over time. Annuity contracts traditionally provide a guaranteed distribution of income over time, until the death of the person or persons named in the contract or until a final date, whichever comes first. However, the majority of modern annuity customers use annuities only to accumulate funds free of income and capital gains taxes and to later take lump-sum withdrawals without using the guaranteed-income-for-life feature
the insured agrees to make a lum-sum payment or series of payments to an insurance company
A period certain annuity guarantees payments for a specific period, such as 10 or 20 years, regardless of the annuitant's lifespan. A life annuity provides payments for the lifetime of the annuitant, ensuring income for as long as they live but ceasing upon their death.
Annuity Life is a contract of insurance between you the buyer and the seller. Variable Annuity Life is a company that covers retirement groups for schools, colleges and Health care.
Yes an annuity is a life insurance product. Its kind of like the opposite of life insurance.
If you are living alone, a single life annuity would be the best. However, if you have a family or a wife/husband, you may want to consider multiple life annuity.
One can get life time annuity rates from his bank. They must simply speak to their financial adviser who will assist them with getting life time annuity rates.