Single Premium Fixed Annuity
An Important Part of Your Total Retirement Income Plan
You may want a single premium immediate fixed annuity. The contract can help supplement your retirement income with guaranteed payments for life or for a specific period of time. Guarantees are based on the claims-paying ability of the issuing company.
Key Product Features:
• Guaranteed lifetime income – life annuity payments offer income that can’t be outlived.
• Tax benefits - a portion of each payment (until original investment recovered) will be excluded from income taxation on annuity contracts issued with after tax dollars.
• Inflation protection – you can elect an option to automatically increase income payments on an annual basis by 1%, 2%, 3% or 4%. Election of this feature will reduce the initial payment amount. This feature is not available with cash refund and installment refund annuity options.
• Access to cash withdrawals – during your retirement or for your beneficiary’s needs, if you choose a payout method that includes a period certain. Future payments may be reduced due to withdrawals.
• A wide range of annuity payment methods - allows you to customize your income to meet your needs and goals.
• Four choices for retirement income payment frequency – monthly, quarterly, semi-annual or annual.
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