AccuQuote Explains Five Reasons Why Annuities Can Be Useful Savings Tools

AccuQuote, a leader in providing term life insurance quotes to people across the United States, explains five reasons why annuities can be useful savings tools in today’s economic state.

Wheeling, IL (PRWEB) December 21, 2009

AccuQuote, a leader in providing term life insurance quotes to people across the United States, explains five reasons why annuities can be useful savings tools in today’s economic condition, especially when other savings tools may not offer the best return.

“Over the past couple of years, we’ve witnessed dramatic and disturbing drops in the stock market and home values. In an effort to reduce losses, many people have moved their money into investments that are not subject to stock market fluctuations such as certificates of deposit (CD’s), savings accounts and money markets,” says Byron Udell, founder and CEO of AccuQuote. “Unfortunately, the interest rates on these investments are very low.”

Annuities offer consumers a way to earn more and keep more without taking needless risks. Udell explains five reasons why annuities can be useful savings tools:

1.    Low Risk – Unlike many savings tools, annuities are not subject to stock market fluctuations. In fact, they are often compared to CD’s because they allow your money to grow safely with low risk. And historically, they have often exceeded the average rate available on bank CD’s.
2.    Guaranteed Rate of Interest – Some annuities are currently guaranteeing as much as three to four percent interest for as long as five years.
3.    Tax Deferral – Annuities earn interest on a tax-deferred basis. This means that, unlike CD’s, money markets and savings accounts, you don’t pay tax on the interest you earn until you decide to withdraw the money.
4.    Lifetime Income – When you are ready to retire, you have the option to elect a lifetime monthly income that you cannot outlive. No other financial product can deliver this important benefit.    
5.    Issued by Top-Rated Life Insurers – Annuities are backed by the full faith and credit of some of the largest and most financially stable life insurance companies in the world.

“As you shop around for an annuity, keep in mind that annuities offer many benefits that traditional retirement savings plans can’t,” says Udell. And, an annuity is uniquely flexible, allowing you choose from several different types of annuities and customize its features based on your terms.”

About AccuQuote
AccuQuote helps consumers find the best values in term life insurance by combining instant online life insurance quotes with the personal service of unbiased life insurance professionals that can help answer questions, identify important issues, and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, and universal life, as well as selected annuities. The website has many handy insurance tools, including a life insurance needs calculator to help you figure out how much to buy, a glossary that explains industry terminology, a collection of articles that cover the basics about life insurance, and a blog which answer many questions about life insurance. For additional information or to get quotes for cheap term life insurance, please call 1-888-314-4455.

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