However, life insurance is the only cash accumulation product which offers the combination of tax deferred growth of cash values and the ability to structure cash distributions which may be received tax free. (keypersoninsurance.com)
All annuities offer tax deferred growth of cash value, similar to the tax advantages of life insurance, but with few more restrictions. (insuranceandestates.com)
Tax deferred growth allows the annuity account to continue to grow without paying taxes on the growth until the time of distributions, withdrawals or surrender of the account. (insuranceandestates.com)