Frequently asked questions?

Fixed Annuities

What is a fixed annuity?
What is a bonus annuity?
What is an immediate annuity?
What is a multi-year guarantee annuity?
What is an equity-indexed annuity?

What is a fixed annuity?

A fixed annuity is a retirement vehicle with earnings that are based on a guaranteed minimum interest rate. Fixed annuities can be some of the safest and most secure financial products available to help prepare for your retirement. Increases in value accumulate on a tax-deferred basis until you take a withdrawal or income payment. Income payments can be taken over the course of your life or for a set period of time. Types of fixed annuities include deferred, immediate, bonus, and equity-indexed.

What is a bonus annuity?

Bonus annuities give you a premium bonus of up to 10% at the time of purchase as well as a fixed interest rate.

What is an immediate annuity?

Immediate annuities come with a guaranteed minimum interest rate. With an immediate annuity, you can typically take income payments right away. Payments are taxed as income.

What is a multi-year guarantee annuity?

Multi-year guaranteed annuities typically offer a higher fixed yield than many other annuity products. You can also choose between a one-year rate and a multi-year rate guarantee structure. Multi-year guarantee annuities help ensure that you will have a specific amount of money in the future, without linking to a market index.

What is an equity-indexed annuity?

Equity-indexed annuities come with a minimum interest rate. With an equity-indexed annuity you have the opportunity to enhance your retirement income by participating in an insurance product that is linked to the performance of a stock market index with the premium protected against market index risk. The gains from market index participation are tax-deferred until you take a withdrawal or an income payment.

What is the accumulation phase?

During the accumulation phase, your money will grow, tax-deferred, as you invest your assets in a wide variety of investment options. You only pay taxes when you take withdrawals.

What is the retirement income phase?

When you are ready to start taking income, our annuity's offer a wide array of payout options. You can choose whether you want to receive income for a specific period of time or receive income that you can't outlive.

Can I make changes to my investment options?

Yes. Contact your financial professional to make changes to your investment options or to transfer funds to additional investment options. In addition, when you have inforce contracts with us, you can register on our client site and make your own transfers between investment options.

How do I access my money at retirement?

Generally, you access your money through withdrawals or annuitization. Withdrawals can be set up on a systematic basis to provide regular payments to you. Annuitization converts your contract into regular income payments and includes options that last for a specific period of time or as long as you live.