Faith A. Bratlie – Insurance Broker

LIFE INSURANCE

As an independent agent, I am not limited to any single insurance company. I represent numerous top-rated companies that offer a wide range of insurance policies and coverage. I shop the competitive markets to find the most affordable values for your insurance needs. More importantly, since we provide all types of insurance.

I have been, and will continue to be, committed to providing the highest level of service and attention to my clients. My knowledgeable experience is built on integrity and customer service.

Annuities

An annuity is a financial product, typically used by investors to save on tax-deferred, it opens a layer closed for retirement or to generate regular income payments, and helps to replace a paycheck in retirement. Annuities are insurance contracts whose payments are guaranteed by the company issuing the contract.

What is tax-deferred?

Tax-deferred is when mostly a financial product helps to defer the money that you put into it saves you on your taxes each year. It is deferred because come the time you need to start withdrawing money from that product you will then pay taxes on it. The idea for tax-deferred products is that while you are working, your tax bracket may be higher, so when you withdraw during retirement you are in a lower tax bracket and hopefully will not pay as much as if you paid while you are working.

How does this reflect with an annuity?

Annuities can be tax-deferred. This is very useful in planning for retirement and allows you to save more money over time because you spend less on taxes. Another fun fact is most annuities have no contribution limits. You may wonder why that matters? Well for high earners it can especially help to capitalize on the value of your investment.