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Fixed annuity rates vs bank CD ratesSummaryIn this 0:19 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Fixed annuity rates vs bank CD rates.” Fixed annuity rates are paying more than bank CD rates. You would have to get 7.69% in a bank CD to net 5% in your pocket. If you're in the 35% tax bracket. So, you earn interest on your principal, interest on interest, and interest on dollars you would have normally paid to Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideAny money your annuity earns is tax deferred. That means you generally won’t pay income tax on earnings until you take them out. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Fixed annuities guarantee at least a minimum interest rate set by the insurer. Deferred annuities also differ by premium pattern and by fees and charges. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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