Annuities

Accumulate Funds for Your Nest Egg

Chances are, you have mixed feelings about retirement. You’re looking forward to a more rewarding and relaxed lifestyle but you’re concerned about building a retirement nest egg. Social Security and company sponsored pension plans will supply some of the income you need after you stop working. But you know personal savings and investments will also be needed to build a solid foundation for retirement.

What is an Annuity?
An annuity is an insurance contract that allows the owner to accumulate funds on a tax-deferred basis and take distribution when desired, often during retirement years.

Benefits

  • Provides guaranteed income you can’t outlive
  • A simple way to distribute your estate directly to a beneficiary

Single Premium Immediate Annuity

A Single Premium Immediate Annuity provides a periodic income which begins after the mode is selected (monthly, quarterly, semi-annual and annual) when the policy is issued.

In a Single Premium Immediate Annuity, a lump sum of money is paid in and you are guaranteed to receive a series of payouts over a period of time. The amount of the payout is determined by both the current interest rate at the time the contract is issued and by the payout option chosen.

Single Premium Deferred Annuity

A Single Premium Deferred Annuity (SPDA) is a policy that combines accumulation and interest to provide an income that is available on either a qualified or non-qualified basis. SPDA is available to fund a traditional or Roth IRA.

In a deferred annuity, the single deposit is left to grow until the owner decides when to begin a systematic stream of income payments. There are many payout options available to choose from including a lifetime payout that you cannot outlive.

Flexible Premium Deferred Annuity

A Flexible Premium Deferred Annuity (FPDA) combines accumulation and compound interest to provide a retirement income. This accumulation and future income is available on either a qualified (IRA etc.) or non-qualified basis. FPDA is available to fund a traditional or Roth IRA.

In a flexible premium deferred annuity, the deposits are left to grow until the owner decides to begin a systematic stream of income payments. There are many payout options available to choose from including a lifetime payout that you cannot outlive.

Form #s: SPDA 40 – 203 SPDA 0603; FPDA 40-203 FPDA 0603; SPIA 40-104

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