Annuities
What Is A Non-Qualified Tax-Deferred Annuity?
A tax-deferred annuity is a contract between an insurance company and a contract owner. In a typical situation, the contract owner contributes funds to the annuity. The money put into the contract is then allowed to grow for a period of time. At a future date, the contract may be “annuitized,“ and the accumulated funds paid out, generally through periodic payments made over either a specified period of time, or the life of an individual or the joint lives of a couple.
In addition to providing lifetime income, tax-deferred annuities are also used as a means of accumulating funds for a specific purpose, such as a child’s education. In court cases involving wrongful death or personal injury, “structured settlements” make use of life insurance company annuities to provide regular income to survivors or injured individuals.
FLEXIBLE PREMIUM ANNUITY V: Our FPA 5 is a great way for anyone who wants to set aside smaller amounts on a regular basis to accumulate retirement savings.
SINGLE PREMIUM DEFERRED ANNUITY VII: SPDA VII is a single premium deferred annuity with a Market Value Adjustment. The initial interest rate is guaranteed for two years. Withdrawals in excess of 10% are subject to surrender charges and Market Value Adjustment for seven years.
SINGLE PREMIUM DEFERRED ANNUITY VIII: SPDA VIII is a single premium deferred annuity with a Market Value Adjustment. The initial interest rate is guaranteed for four years, and also guaranteed for subsequent four-year intervals. The surrender charges and Market Value Adjustments also renew in four-year intervals.
PENSION PLANS: We also offer Traditional IRAs, Roth IRAs, Simple IRAs, Simplified Employee Pension Plans, Tax Sheltered Annuities