Skip to main content
Find a Financial Representative

Annuities


  1. What is an annuity?
  2. When can I begin getting payments from my annuity?
  3. How long will my annuity pay out?
  4. What are the tax benefits of an annuity?
  5. What is the minimum amount I need to start an annuity?
  6. Do annuities have a guaranteed interest rate?

  1. What is an annuity?

    An annuity is an investment into your retirement.  Taxes are deferred on your contributions until you begin receiving income from the annuity.


  2. When can I begin getting payments from my annuity?

    You can begin collecting payments at age 59 ½.  There is some flexibility built in for those who need to make withdrawals earlier, but some limitations or penalties may apply. Contact your COUNTRY Financial representative for all the details.


  3. How long will my annuity pay out?

    You can choose to receive a guaranteed income for as long as you live, or you could opt for larger payments for a shorter length of time. Annuity payments can be made monthly, quarterly, semi-annually or annually. The dollar amount of your payment depends on the balance in your contract, the settlement option you select and your age when you begin the settlement.


  4. What are the tax benefits of an annuity?

    Your annuity contributions and interest earnings are not taxed until a withdrawal is made.  Also, when you begin receiving income payments, a set amount of each payment is excluded from taxable income because it is considered to be a return of your capital.


  5. What is the minimum amount I need to start an annuity?

    Fixed Flexible Premium Annuities require a minimum investment of $50 and the minimum investment needed for a Single Premium Deferred Annuity is $10,000.


  6. Do annuities have a guaranteed interest rate?

    Yes, some do. The Flexible Premium Deferred, Single Premium Deferred and Single Premium Immediate annuities offered by COUNTRY Financial have a guaranteed interest rate based on the initial premium deposit. A COUNTRY Financial representative can review the current rates with you.


Contact Us
Share

Issued by COUNTRY Investors Life Assurance Company®, Bloomington, IL. Coverage not available in all states. Read our full disclaimer.

COUNTRY Financial and our representatives cannot give tax advice. See a tax advisor for more details.

ANN_WEB2(CF1/08)

/content/financial/customerSupport/faqs/annuitiesFrequentlyAskedQuestions.xml