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Learn the basics about annuities
Deferred vs. Immediate
- Deferred annuity lets you save on a tax-deferred basis and later use the money in retirement as income.
- Immediate annuity let you receive income right away. You convert part of your savings to an income stream for your lifetime or for a specific period of time.
Traditional vs. Roth IRAs
We offer IRAs as annuities.
- Traditional IRA. Watch your money grow faster through tax-deferral until you start withdrawing income*. You may be in a lower tax bracket when you start withdrawing income—another possible advantage.
- Roth IRA. You set aside after-tax dollars. Your earnings grow tax-free and you never** have to pay taxes on the withdrawals.
Talk with Kevin or Grace, our annuity specialists and presenters at the Planning For Tomorrow conferences. Just call (866)802-6333 and ask to speak with one of them, or email us.
Single vs. flexible premium
- A single premium annuity is funded with a single lump sum contribution or with multiple contributions within 60 days of your contract date.
- A flexible premium annuity lets you contribute at your own pace, with multiple contributions over time.
Lifetime payments vs. income for a specified period or payment amount
- Lifetime payments. Choose lifetime income for one or two people. You can also add a benefit guarantee for your beneficiary. The payout option you choose affects the amount you (and your spouse and beneficiary) receive each month.
- Specific period or payment amount. If you specify the period of time for which you'd like to receive income or the amount of income you'd like to receive each month, your payment is calculated based on your account balance.
| Download At-A-Glance Brochures | View |
|---|---|
| Deferred Annuities |  |
| Traditional IRA Annuities | |
| Roth IRA Annuities | |
| Single Premium Immediate Annuity | |
To view a glossary of terms click here.
*Withdrawals from a Traditional IRA are generally subject to ordinary income taxes and, if taken prior to age 59 1/2, an additional 10% penalty may apply.
**Withdrawals of earnings in a Roth IRA prior to age 59 1/2 are generally subject to ordinary income taxes and an additional 10% tax penalty.
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