Annuity's Many Benefits #2: Protection from Creditors

August 21, 2006 10:48 AM

Why should you consider annuity as an integral part of your investment plan? Here is our point-by-point breakdown of annuity's many benefits:

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Protection from Creditors

If you own an immediate annuity (that is, you are receiving money from an insurance company), in general the most that creditors can access is the payments as they’re made, since the money you gave the insurance company now belongs to the company. Some state statutes and court decisions also protect some or all of the payments from those annuities. And your money in tax-favored retirement plans, such as IRAs and 401(k)s, are generally protected, whether they are invested in an annuity or not.

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