An annuity is a tax-deferred investment that can be used to receive guaranteed payments for the rest of your life. Taxes are deferred on the earnings in your annuity until you start taking money from it. Different types of annuities are available to you, depending on when you want to start taking the money, the amount you want to invest, and what your goals are for the future.
You can start taking payments without penalties at age 59 ½. There’s some flexibility built in if you need to make withdrawals earlier, but some limitations or penalties may apply. Contact your COUNTRY Financial representative for all the details.
You can choose to receive a guaranteed income for as long as you live, or you can choose other payout options that are available. 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 payment type you select and your age when you begin taking payments. The only requirement is that the payment is not less than $100.
Your annuity contributions and interest earnings are not taxed until a withdrawal is made. And when you begin receiving income payments from non-qualified annuities, a set amount of each payment is excluded from taxable income because it’s considered to be a return of your initial investment.
Annuities issued by COUNTRY Investors Life Assurance Company®, Bloomington, IL.
The information and descriptions contained here are not intended to be complete descriptions of all terms, conditions and exclusions applicable to the products and services. The precise coverage under any COUNTRY Investors annuity product is subject to the terms, conditions and exclusions in the actual annuities as issued. Products and services described in this website vary from state to state and not all products, coverages or services are available in all states.
Guarantees based on the claims paying ability of COUNTRY Investors.
COUNTRY Financial and our representatives cannot give tax advice. Any information we provide reflects our understanding of current tax laws, which are subject to change and reinterpretation.
Contract form numbers:
Single Premium Deferred Annuity: CI-SPDA-03B
Flexible Premium Deferred Annuity: CI-FPDA-03B
Single Premium Immediate Annuity: In AK, AZ, CO, IL, KS, MO, NV, OK, OR: MAI_37_87; in IA, KY, MI, MN, ND, OH, PN, WI: CI_37_02; in IN, IN_37_02; in TN, SPIA(TN09/06); in WA, WAI_37_87; in WV, WV_37_02