Not exact matches
Another benefit to withdrawals
during the
accumulation phase is that your
money that stays in the contract can continue to grow while you take income.
During the
accumulation phase of a variable annuity,
money paid into the contract (called a premium) is allocated to investment portfolios (called subaccounts) where earnings have the potential to grow tax - deferred.
Any
money in an annuity grows tax - free
during the
accumulation phase.
The first is the
accumulation phase or investment
phase,
during which you pay regular insurance premiums & the
money accumulates through the tenure of the plan.