Preparing for a good, long life ahead
A fixed annuity can be a great way to plan for retirement income if you live a long life.
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Offers a flexible premium schedule during the accumulation stage.
Offers the ability to make a one-time lump sum payment and receive a guaranteed minimum interest rate.
Offers immediate guaranteed income for the rest of your life.
Intro to Fixed Annuities
Is an annuity right for me?
It depends. Many retirees cover their fixed expenses like housing costs and food with guaranteed income sources, like Social Security and pensions. That leaves their other retirement investments and savings for the fun stuff, like traveling and hobbies.
If you don’t think Social Security and pension money will cover all your fixed expenses, buying an annuity can add another guaranteed income source to your retirement. It can also be a good choice if you’re concerned you won’t be disciplined in withdrawing money from your savings.
Benefits of annuities
In addition to having the option of lifetime income, if you have a deferred annuity, the value of your annuity can grow tax-deferred at interest rates that are guaranteed not to fall below a certain minimum. There's often no limit on the amount you can contribute to an annuity*, and you can choose from a variety of payout options. The payments you receive from your annuity will vary based on the payout option you choose.
*Annuities purchased in an IRA or other qualified account are subject to IRS contribution limits.
Fixed annuities may be issued by COUNTRY Investors Life Assurance Company®, Bloomington.