A deferred annuity allows you to accumulate tax-deferred funds over time before you begin to receive payments. Because your money isn’t taxed until it’s withdrawn, it has the potential to accumulate more quickly. Then, when you withdraw money — beginning as early as age 59½1 — you only pay taxes on funds your investment may have earned, not the principal investment.
At TIAA-CREF Life Insurance Company (TIAA-CREF Life) you can start a deferred, non-qualified annuity with as little as $2,500 after-tax dollars. And, as with all annuities we offer an option for income that is guaranteed.2
1 Taxable amounts received prior to age 59½ may be subject to a 10% IRS penalty in addition to ordinary income tax.
2 Guarantees subject to the claims-paying ability of TIAA-CREF Life Insurance Company.