Retirees like income. So they want to know the many ways an annuity may pay. Confidence comes with knowing how an annuity may pay to help meet your financial needs.
- Withdrawals. You can access your money any time. Beginning immediately, up to 10% of the accumulated value annually without a surrender charge.
- Annuitization. Convert a lump sum into income guaranteed for your life, or your life and another person’s.
- Payout Options. Immediate annuities offer payout options for specific amounts or periods; plus, increasing payout options to help address inflation over time.
- SEPPs. Substantially Equal Periodic Payments taken at least annually for 5 years and to the age of 59 1/2 are not subject to the 10% IRS penalty tax on withdrawals before age 59 1/2.
- Combination Plans. Pair two annuities–one generates immediate income, one pursues accumulation.
- RMDs. Required Minimum Distribution programs pay the amount IRA owners and qualified plan participants must take yearly from accounts starting by age 70 1/2.
- Death Benefit. Distributions upon death provide payouts and may extend tax-deferral benefits for a beneficiary’s life.
Commutation. Provides a lump sum from an immediate annuity for unforeseen life events while continuing reduced regular payments.
For confidence, it pays to plan for retirement with an annuity.