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Steelhead Insurance Services Corp.
405 North Hayden Bay Drive
Portland, OR 97217
Phone: (877) 235-9299
E-mail: Dave@SteelheadInsurance.com

Index Annuities

An annuity is basically a savings plan, but with an insurance company.  It is a contract sold by an insurance company designed to provide payments to the holder at specified intervals, usually after retirement.  The holder is taxed only when they start taking distributions or if they withdraw funds from the account.  All annuities are tax-deferred, meaning that the earnings from investments in these accounts grow tax-deferred until withdrawal and cannot be withdrawn without penalty until a certain specified age.  Fixed annuities guarantee a certain payment amount while variable annuities do not, but do have the potential for greater returns.  An annuity has a death benefit equivalent to the higher of the current value of the annuity or the amount the buyer has paid into it.  If the owner dies during the accumulation phase, his or her heirs will receive the accumulated amount in the annuity.  This money is subject to ordinary income taxes in addition to estate taxes.

An indexed annuity is a fixed annuity, either immediate or deferred, that earns interest or provides benefits that are linked to an external equity reference or an equity index.  It has the possibilities of more upside potential than your traditional annuity.  One of the most commonly used indices is the S&P 500, which is an equity index. 

The value of any index varies from day to day and is not predictable.  When you buy a fixed indexed annuity you own an insurance contract.  You are not buying shares of any stock or equity index.

To learn more or get a quote, fill out the form "Request an annuity quote" and someone will be in contact with you.

Disclaimer:

The information contained in this article is not intended to constitute legal, accounting, tax, investment, consulting or other professional advice or services.  For specific information that applies to your circumstances you should consult a qualified tax advisor.  In accordance with IRS Circular 230 Disclosure, and to ensure compliance with requirements imposed by the U.S. Internal Revenue Service, we inform you that any tax advice contained in this article was not intended or written to be used, and cannot be used, by any taxpayer for the purpose of:

1. Avoiding tax-related penalties under the U.S. Internal Revenue Code.
2. Promoting, marketing or recommending to another party any tax-related matters addressed herein.

You should seek professional advice before implementing any of the strategies discussed herein, since:

1. The strategies are general in nature and will not apply to every situation.
2. Other opportunities may be better suited to your particular needs.
3. The rules and regulations are constantly changing.

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