A tax deferred annuity is an interest-earning contract between you and an insurance
company in which the insurance company agrees to make income payments at some time
in the future.
The issuing company guarantees both your principal and interest and, under current
law, you do not pay any taxes on the interest earned until it is withdrawn.
Because taxes on your interest earnings are postponed until a future point in time,
your money grows faster because you are earning interest on money normally paid out
in taxes each year.
Initial interest rates will vary according to market conditions. Most fixed rate annuities offer a 1% bonus in addition to the stated first year interest rate. Ask a licensed representative of Emigrant Financial Services for the current rates.
Emigrant Financial Services makes tax-deferred annuities available only through highly-rated insurance carriers. Ratings are provided by AM Best Company, an independent firm which specializes in assessing the financial conditions and operating performance of all life insurance companies. For information on the insurance carriers represented by Emigrant Financial Services, please contact a Financial Consultant at one of our Branches.
Principal and interest of fixed rate
annuities are guaranteed by the insurance carriers who offer them. Legal reserve
life insurance companies are mandated by law to establish reserves at least equal
to the benefits provided by the annuity policies in force.
Securities are offered through Essex National Securities, Inc. (ENSI), member FINRA•SIPC. ENSI is not affiliated with Emigrant Savings Bank. Insurance products are offered through Emigrant Agency, Inc. which is affiliated with Emigrant Savings Bank.
