What all
annuities
have in common is that they’re insurance company products. But individual
annuities differ from each other in major and minor ways. Among the
most important distinctions are those between:
Annuities
purchased as part of an
employer-sponsored retirement plan,
sometimes called
qualified annuities, and those you purchase for your
own portfolio, which may be described as nonqualified
annuities
In addition,
you’ll find that there are differences in:
The cost of comparable
contracts and the amount of income they guarantee
Annual management
and insurance costs
The flexibility of the
contract, including the number of options you have
