The Advantages of a Variable Annuity

In most cases you do not pay a penny of income tax on it anyway however upon your death if it grew to five hundred thousand dollars your beneficiaries wouldn't have to pay any. There is no surrender charge there is no ten percent federal tax penalty if you take money out before fifty nine and a half years of age. Many index funds that don't charge any fees to buy or expenses anything in them what so ever so more of your money goes to work for you.