Steven Prusky is a key figure in the development of the trading models used at Windsor Securities, Inc., an over four decades old investment adviser firm which he owns and serves as president. Using transparent investment vehicles, Steven Prusky’s company serves a variety of clients including those owning variable life insurance products.
A form of tax-deferred retirement vehicle, a variable annuity enables the annuity owner to select from a choice of investments, and then pays the owner in retirement an amount of income that is dependent on the past performance of the chosen investments. The gains are not taxed until they are withdrawn. As the owner is able to choose the investments, there is the potential of earning higher long-term returns as compared to a fixed annuity.
The majority of annuity contracts guarantee that the the amount invested with be returned as a death benefit. This death benefit feature qualifies the annuity as an insurance contract which enables earnings to be tax deferred.
Variable life insurance provides a potentially powerful tool for estate planning. High returns could reduce or possibly eliminate future premiums, allowing the entire death benefit to be passed estate-tax free to heirs.
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