Unlike retirement accounts, there are no federal contribution limits for variable annuities, and the investment gains won’t be taxed until they are withdrawn.
It’s a good idea to regularly review beneficiary designations to be sure they are complete and reflect current wishes.
Closed-end funds are considered to carry higher risk but may provide a higher income stream than traditional mutual funds holding similar securities.
Hybrid long-term care insurance policies, also known as asset-based plans, combine the benefit of a life insurance policy or an annuity with the availability of long-term care benefits.