Retirement Planning / Estate Planning

 An annuity allows a customer to deposit money (premiums) with an insurance company that can earn interest and grow on a tax-deferred basis with the agreement that the insurance company will then provide a series of payments back to the customer at regular intervals.

People typically purchase annuities to provide or supplement retirement income they will receive from Social Security, pension benefits, investments and other sources. You can convert your annuity into a stream of income that can then be paid over a fixed period or for your lifetime. You can take withdrawals of varying amounts when you need the income. 

There are generally TWO types of annuities: 

Provides income payments that normally begin within a year after the premium is paid.

Provide income payments that begin later, often after many years. Deferred annuities are designed for long-term savings purposes.

• Available to purchase using a single lump sum, or with flexible premiums over time.
• When it comes time to take income from your deferred annuity, you will have many options      available to meet your needs.

May be ideal for those who need death benefit protection but are focused on cash value accumulation for lifetime needs such as supplementing retirement income.

Increasing the death benefit may be subject to additional underwriting approval. 

OFFERS:

• Flexible death benefit
• Flexible premium
• Cash value grows based on an interest crediting strategy that is tied to changes in a market index such as the S&P 500.4
• Downside protection through minimum guarantees to ensure that your cash value will not decline due to decreases in the Index.

 May make sense for those who have budget limitations, large protection needs or temporary need.

OFFERS:

• Guaranteed death benefit for a fixed period
• Fixed premium.
• No cash value.
• Coverage is for a certain period of time (term), usually for a  specified number of years or to a specific age of the insured.
• Initial premiums tend to be lower but will eventually increase.

• ·There are additional benefits associated with our life insurance and annuity solutions provided by optional riders. We call them Living Benefits, and we have been providing them since 1937. Based on the product, living benefits can provide benefits should a qualifying terminal, chronic or critical illness or critical injury occur, or if your desire is to have an income that you cannot outlive.
• Buying a home?  You may have access to policy cash value through either a withdrawal or as a loan from the insurance company using the policy as collateral. If you take a withdrawal, your policy values will immediately be reduced by the withdrawal amount. If you take a loan, depending upon the type of insurance you have, your policy values may continue to grow. You are not required to repay the loan, or the loan interest, during your lifetime. However, if you choose not to, any outstanding loan balance will reduce the amount of death benefit payable to your beneficiary. 
• Access to a closed network of provider attorneys to assist with closing on a home, having contracts reviewed, Wills and Trusts, as well as all other legal matters.