Bank CDs vs CD-Type Annuities

What is an Annuity?

An Annuity is a legal contract between you and an insurance company. You make a single premium payment or periodic payments over a period of time.

Important Questions	Single Premium Deferred Annuity	Certificate of Deposit
Is your principal guaranteed from loss by the Insurance company or bank?	Yes	Yes
Is your money free from market risk and price fluctuation?	Yes	Yes
Is your interest tax deferred?	Yes	No
Do You avoid probate fees?	Yes	No
Are you allowed to make withdrawals without penalty?	Yes	No
Can you receive a guaranteed lifetime income with additional tax advantages?	Yes	No