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Fixed Annuities |
Variable Annuities1 |
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Description |
- Earn a guaranteed rate of return for your money
- Fixed annuities offer fixed, competitive interest rates
- Interest-earned is not taxable until its withdrawn from the annuity
- Suitable for investors who are looking for a long-term investment with competitive interest rates, safety, tax advantages, and flexible withdrawal procedures
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- Money is invested in stock and bond sub-accounts that you select based on your investment options and risk tolerance
- Variable annuities offer the potential of higher returns than fixed annuities
- The return and value of your annuity are dependent solely on the performance of the selected portfolio
- Returns are not taxable until withdrawn from the annuity
- Suitable for investors looking for long-term growth with higher risk, tax advantages, and flexible income options
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Purchase Options |
A policy is purchased by making either a single payment or a series of payments
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A policy is purchased by making either a single payment or a series of payments
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Minimum Opening Deposit |
$3,000 to $5,000 depending on the terms of the annuity
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$3,000 to $5,000 depending on the terms of the annuity
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Surrender Charges |
May apply if more than 10% of the total balance is withdrawn in the first 5 to 10 years, depending on the terms of the annuity
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May apply if more than 10% of the total balance is withdrawn in the first 5 to 10 years, depending on the terms of the annuity
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Tax Penalties |
Withdrawals before age 59½ may be subject to a 10%
IRS penalty
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Withdrawals before age 59½ may be subject to a 10%
IRS penalty
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Tax Deferral |
Earnings are tax-free until withdrawn
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Earnings are tax-free until withdrawn
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Flexible Payout Options |
You may annuitize your policy which will guarantee you a stream of income for life or stated time period which you select. You may also make random withdrawals or cash out in a lump sum. Surrender charges may apply. Please check the terms of your policy.
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You may annuitize your policy which will guarantee you a stream of income for life or stated time period which you select. You may also make random withdrawals or cash out in a lump sum. Surrender charges may apply. Please check the terms of your policy.
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