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| Quicken.com Launches First of a Kind, Step-by-Step Annuity Center |
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| Annuity Center Provides Useful, Objective Information, Interactive Tools and Links to Purchase Annuities |
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MOUNTAIN VIEW, Calif. -
March
09,
1999 -
Intuit Inc. (NASDAQ:INTU) ) today officially announced the launch of a first-of-a-kind, step-by-step Annuity Center on the company's leading financial Web site, Quicken.com. The Annuity Center, created in direct response to customer feedback, was designed to be the starting place on the Web for useful, objective information about tax-deferred retirement investing through annuities. Step-by-step interactive tools, educational content and links to purchase annuities can be found in the Annuity Center, which is accessible at http://www.Quicken.com/annuities/.
"More than 15 percent of Quicken.com visitors currently own annuities, and many more may find annuities an appropriate investment," said Steve Johnson, senior product manager for Quicken.com. "We created the Annuity Center to help consumers educate themselves and decide if annuities are a good option for them."
With longer life spans, the uncertain future of social security and other financial issues, people are looking for additional ways to save for retirement. Because earnings on the growth of annuities are not taxed until a withdrawal, annuities are now being considered by many alongside mutual funds as a potential retirement investment. According to The VARDS Report, the sale of annuities is on the rise and is projected to continue. In 1998, the sale of variable annuities was $98.8 billion, up 12% from the previous year.
While the benefits of annuities have been misunderstood by many, The Annuity Center on Quicken.com provides the tools to help consumers learn if annuities are right for them.
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About The Annuity Center
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Visitors to Quicken.com's Annuity Center will find a full range of services for annuities, from educational articles and interactive tools to the ability to purchase both online via AnnuityNet.com, the first online variable annuity store (www.AnnuityNet.com), or offline, directly through an agent. To help consumers decided if an annuity is right for them, The Annuity Center provides a step-by-step guide:
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Introduction: What is an annuity?
Key benefits of annuities are explained, as well as more complicated parts of the annuity such as fixed vs. variable, certain vs. life term, deferred or immediate, annuity death benefits and surrender charges.
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Step 1: Fund other plans first
Before thinking about annuities, consumers should fully fund the tax-deductible and tax-deferred saving plans (other than annuities) that they are qualified to take part in. Comparison charts show contribution limits, advantages and other comparison points for the different plans.
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Step 2: Is an annuity right for you?
If a consumer has already funded the relatively "free" retirement plans available, then they can take an interactive quiz to help them decide if they should buy an annuity to save more money for retirement.
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Step 3: Compare annuities to funds
Depending on your investment horizon and the cost of the annuity, a taxable mutual fund may be a better place for retirement money. An interactive tool from AnnuityNet.com lets users compare the long-term outlook of variable annuities vs. mutual funds.
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Step 4: Find an annuity
Once a consumer has decided that an annuity is right for them, they can use the Quicken.com checklist to comparison shop for different for annuities.
In the coming months, more interactive tools will be developed along with a community area, which will enable consumers to chat with experts, post questions and discuss the latest annuity-related issues with other consumers. The Annuity Center is located at www.Quicken.com/annuities.
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About Quicken.com
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Quicken.com http://www.quicken.com, a leading online finance site, brings together tools, resources and expertise to help empower consumers to make confident investment and financial choices. Once consumers have determined their financial needs, Quicken.com can help them reach a solution for all areas of personal finance management, including investments, insurance, tax and mortgage. All of which is available for FREE! Quicken.com is competitive with Microsoft Investor (Nasdaq: MSFT) and Yahoo! Finance (Nasdaq: YHOO).
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About Intuit
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Intuit Inc., a financial software and Web-based services company, develops and markets Quicken, the leading personal finance software; TurboTax, the best-selling tax preparation software; and QuickBooks, the most popular small business accounting software. Intuit's QuickenStore (www.quickenstore.com) is the online source for consumers to purchase Intuit products via the Web.
Intuit's Quicken.com Web site (www.quicken.com) is the premier financial Web site, offering a comprehensive set of financial news, information and tools, including insurance, mortgage, investment and tax preparation services. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses.
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