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ordinary annuity
A tax deferred fixed annuity pays a flat interest rate.
To purchase an annuity you need to go to an insurance or investment broker. They can be found at SunLife and ManuLife. The minimum annuity cost is $3,500.
Refund Life Annuity
You need to decide what type of annuity you want to purchase a fixed annuity are for the conservative investor the rate of return is lower. With a variable annuity gives choices of where to invest and amount of payment. A finical advisory will be very helpful to the decision process.
ordinary annuity
Yes, you do earn a higher interest rate with a variable annuity than with a fixed annuity. It depends on what kind of interest rate you have at the moment.
To purchase an annuity you need to go to an insurance or investment broker. They can be found at SunLife and ManuLife. The minimum annuity cost is $3,500.
A tax deferred fixed annuity pays a flat interest rate.
Refund Life Annuity
If the annuity is a non qualified tax deferred annuity (an annuity that taxes were paid on the money before they were placed into the annuity) you will pay taxes on any interest growth when it is removed from the annuity. If the annuity is a qualified annuity (no taxes were paid prior to placing the fund into the annuity) you will pay taxes on all withdrawals from the annuity.
Pundai
The answer depends on the type of annuity. If the annuity is a fixed period annuity or an annuity which pays a fixed amount during the lifetime of one or more persons, the value of the annuity will decrease if interest rates rise and will increase if interest rates fall. For example, san an annuity is paying $100 per month for 3 years and the interest rate is 5%. The value of the annuity is $100 x ( (1+5%)^(-1/12) + (1+5%)^(-2/12) + ... + (1+5%)^(-36/12) ) = $3,342.13. If the interest rate rises to 6%, the value of the annuity falls to $100 x ( (1+6%)^(-1/12) + (1+6%)^(-2/12) + ... + (1+6%)^(-36/12) ) = $3,294.90.
This how u put in sentences: Do I have to purchase an annuity at age 75?
You need to decide what type of annuity you want to purchase a fixed annuity are for the conservative investor the rate of return is lower. With a variable annuity gives choices of where to invest and amount of payment. A finical advisory will be very helpful to the decision process.
Annuity
Future value interest factor annuity