Genworth Financial
Posted in Life Insurance Companies
An annuity is similar to 401k's and IRA's, they build up a supply of money for retirement through contributions. It is not taxed until you retire and so the tax liability is lower, since you will be earning less money at that time. GE Life and Annuity is a well known company that offers fixed and variable rate annuities.Variable rate annuities are more risky with many investments in securities. You can earn more money for retirement, but as recently witnessed, if the stock market tanks you can be out a lot of money. Fixed rate annuities return a steady fixed rate because it is invested in less risky instruments, like government bills and bonds. Though returning less money there is less chance of losing a big chunk of your hard earned money. The decision is yours.
Genworth is headquartered in Richmond, Virginia
A.M. Best Rating
A+ (Superior)