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An annuity is the purchase of a specified income for life:
- A lump sum payment is initially made by the member, and thereafter the specified payment is made to the member for as
long as he or she lives, regardless of how long, or how short. Annuities can be written for the lives of one person or of
two persons.
- Denominational annuities are "gift" annuities. This means that a portion of the initial payment used to fund the annuity will
be retained by the charity upon the death of the individual.
- A good portion of the income payments is tax-free and there is a tax deduction on the assets used to fund the annuity.
- Annuities provide a carefree source of lifetime income and will ultimately benefit the Lord's work.
- An annuity is a completed contract when written and cannot be changed or modified.
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Mission Statement
Basic Estate Planning
Services Offered
Seminars and Clinics
Crescendo Estate Planning Programs
Southern Union Revolving Fund |
