The growth in your annuity is tax deferred, similar to the way earnings are handled with most retirement accounts. (protective.com)
This is not true for most retirement accounts such as annuities or 401k plans, which often incur a 10 % penalty in addition to income taxes. (hacked.com)
And to give you even more to think about, most retirement accounts come with their own rules and tax benefits. (protective.com)