ANNUITY FREQUENTLY ASKED QUESTIONS AND ANSWERS

Q: What is an annuity?

A: An annuity is a financial contract between an individual and an insurance company that is designed to be used as a retirement savings vehicle.

Q: What is the key advantage of an annuity?

A: The key advantage of an annuity is that the money invested grows without being currently taxed.

Q: What are some other advantages of an annuity?

A: Broad range of professionally managed investment alternatives.Variety of payout options or systematic withdrawals.The potential for an income that cannot be outlived. Proceeds at death bypass probate.

Q: Do I pay taxes on my annuity?

A: Taxes are paid on annuity at the time a distribution from the annuity is paid.

Q: What happens to my annuity in the event I die?

A: The account value is paid to a named beneficiary that you have selected. In some situations the account may be transferred without any tax consequences.

Q: How can I receive the value of my account?

A: There are several methods of distributing proceeds from an annuity? The proper method for you will be dictated by your own personal situation. (Consult a Financial Professional)

Q: Are there more than one type of annuity?

A: Yes, there is more than one type of annuity. (Consult a Financial Professional for the one best suited for you.)

 

Call our financial service representitive at (937) 746-1520 x1126 or x1230

These products are not bank products. These products are offered through a strategic alliance agreement between Ralph E. Wade Insurance Agency Inc. and The Community National Bank. The products are not FDIC insured, not a deposit, may lose value and do have a bank guarantee. The products are not insured by any federal agency.