But wait, there’s more
The American Legend 7 offers these additional benefits to help you confidently navigate your future.
Tax treatment that allows faster growth You don’t pay taxes on the interest your annuity earns until you start receiving payments or take a withdrawal. That means your money can grow at a faster rate than it would in a taxable product.
Leave a legacy for your loved ones As you’re planning for the future, you probably want to know what will happen to your money when you’re gone. With the American Legend 7, any death benefit is paid directly to your beneficiaries, which allows them to receive your financial legacy without the cost and delays of probate.
This information is not intended or written to be used as legal or tax advice. It was written solely to provide general information and support the sale of annuity products. You should seek advice on legal or tax questions based on your particular circumstances from an attorney or tax advisor. For qualified contracts, the full amount withdrawn is generally subject to income tax. For other contracts, only the gains are subject to income tax. If you are under age 59½, the taxable amount is also generally subject to a 10% federal penalty tax.
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