A tax-deferred annuity can help you achieve financial security and make your dreams a reality.
A tax-deferred annuity is an interest earning insurance contract between you and an insurance company in which the insurance company agrees to make payments at some time in the future. Under current tax laws, you do not pay any taxes on the interest earned until it is withdrawn, as a result, your money grows faster.
Under current tax laws, annuities supply important tax benefits in planning for your retirement. Interest you earn on your annuity is not taxed until it is withdrawn, allowing you to earn interest on money you would normally have paid out in taxes. Your money works harder for you during peak earning years, traditionally higher tax-bracket years, and you can therefore defer paying taxes on your money until your retirement years, traditionally lower tax-bracket years.
The Annuities offered through American Bank of NJ are :
