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Annuity options to achieve your retirement goals

How prepared are you for retirement? Traditional fixed and indexed annuities can address your specific concerns and help you achieve your retirement goals.

Guaranteed payments for the rest of your life

Planning for your retirement is one of the biggest challenges you’ll face. Annuities offer a safe option to help you accomplish your retirement goals. In fact, annuities are retirement vehicles that can offer guaranteed payments for the rest of your life.

Annuities have many advantages to help you build financial security. First, your principal is always protected even if the market fails to have positive gains. Subsequently, your earnings accumulate on an income-tax-deferred basis to grow your retirement fund faster. You can choose from a variety of payout options, including a secure and steady income stream you can’t outlive. And, annuities will not affect your Social Security benefits (although increases in your income may result in increased income taxation). Your Bankers Life insurance agent can educate you about annuities, explain your options and determine whether one is right for you.

Benefits

An annuity is only as good as the company that backs it. You want to know that the company issuing your annuity will be around in the future to follow through on payments to you. Before making a decision, look at the longevity, financial strength and stability of the issuing company.

Bankers Life products have been serving America’s insurance needs since 1879.  You can count on us to be there when you need us most. As of 2014, Bankers Life and Casualty Company has more than $14 billion in assets under management and 300 locations across the country.  Our insurance agents have the knowledge and experience to help you select an annuity that fits your personal situation. Let Bankers Life agents help you build a better retirement with tax-deferred savings now and lifetime income later.

Types of annuities

  • Fixed interest annuity: This product is designed to help you accumulate funds for your retirement. The money in your annuity earns a guaranteed fixed rate of interest and your money accumulates on a tax-deferred basis, meaning you do not pay taxes on your earnings until you actually withdraw them from your policy.

  • Fixed index annuity: A fixed index annuity provides the guarantees that come with fixed annuities but is combined with the opportunity to earn interest based on changes in an external market index. Because you are not actually participating in the market, the money in your annuity is not at risk.

  • Immediate annuity: An immediate annuity is purchased with a single lump-sum payment and, in exchange, pays a guaranteed income stream that starts almost immediately.

Frequently asked questions

What is an annuity?

An annuity is a financial vehicle designed to help you accumulate money for retirement or turn your retirement savings into an income stream.

What are the different types of annuity products?

There are three types of annuities: fixed interest, fixed index and immediate.

  • A fixed interest annuity helps you accumulate funds for retirement. The money in your annuity earns a guaranteed fixed interest rate. Plus, your money accumulates tax deferred, which means you don’t pay income taxes on earnings until you actually withdraw them from your policy.
  • A fixed index annuity has the same guarantees as a fixed interest annuity, but it offers an additional opportunity to earn interest based on the performance of a market index. You’re not actually participating in the market, so the money in your annuity is never at risk of decreasing.
  • An immediate annuity is purchased with a single lump-sum payment. In exchange, the annuity pays you a guaranteed income stream that can begin immediately.
What are the biggest advantages of an annuity?

An annuity can help you:

  • Protect your principal.
  • Avoid probate in most cases.
  • Have guaranteed income for life.
  • Gain potential protection against creditors, claims, lawsuits, bankruptcies and more.

Plus, annuity payouts do not affect your Social Security benefits.

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