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Sea Turtle

Financial Services

Annuities

The value of Annuities

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Annuities can help address one of your fundamental concerns: Outliving your savings. They offer you guaranteed lifetime income payments, which may give you freedom to fulfill your retirement dreams and help with your financial peace of mind. They also give you flexibility to use your cash however you choose.

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An Annuity may be right if you if

  • You're nearing retirement or you've already retired. You thought saving for retirement was the hard part. Now you need a steady retirement income. 

  • You'd like to minimize the taxes you pay on your annuity earnings. You don't need they money right now. So you're looking for a way to accumulate funds while deferring tax payments.

  • You're looking for an alternative to a certificate of deposit. You want your money to work hard for you. So, you're looking for something with the potential for higher returns. 

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Two Basic Types of Annuities
 

Income Annuities

Income annuities can provide you​ a guaranteed, reliable income stream that you can't outlive. If you're nearing retirement age or already retired, income annuities can help supplement your income through a series of payments throughout your lifetime or for a specific period of time. 

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Products:

 

                         Ultra Income:

      Provides guaranteed income options. 

                            Features:

  1. Choose from payment options, including those that last your lifetime.

  2. Receive larger payouts without increasing your premium (if you have certain health conditions) 

  3. Cost-of-living adjustment option to help you offset inflation

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                       Income access:

Pays lifelong income and also gives you access to your money when you need it.                                 Features: 

  1. 10 or 20 percent payment increase if you have certain health conditions such as cancer, diabetes, heart disease, stroke, etc. 

  2. Optional benefits that can be tailored to meet your needs, including a cost-of-living adjustment option

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​              Deferred Income Protector:

Provides income payments that can be deferred until later in life.

                           Features:​

  1. Defer income payments 2 to 40 years in the future

  2. Acts as a substitute to an employer sponsored pension plan

  3. Income payment advance and annual increase options to help you adjust to your changing needs

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​      Income Annuity with Premium Return:

Pays income and also guarantees that your initial payment will be left to your heirs. 

Features:

  1. A safe place for your money with a guarantee that it could be left to your heirs and provides the ability to receive reliable income payments

  2. Receive income payments at a rate competitive with the interest rate on CDs or our fixed deferred annuities

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Deferred Annuities

Deferred Annuities can help you accumulate assets for retirement by offering you a fixed rate of return and tax-deferred growth. And with deferred annuities, your investment will never decline in value. 

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Products:

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                  Bonus Flexible Annuity:

Allows flexible contributions. Credits bonus interest in the first year.

                             Features: 

  1. Tax-deferred growth. 

  2. Additional 1 percent interest rate in the first year. 

  3. Additional 0.15 percent added to interest rate on purchase payment and accumulation values over $50,000. 

  4. A variety of income payout options

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                    Ultra-Secure Plus:

Purchase with a single premium. The initial rate is guaranteed for 5 or 7 years.                                         Features: 

  1. Tax-deferred growth. 

  2. Competitive renewal rates. 

  3. Additional 0.15 percent added to interest rate on purchase payment and accumulation values over $50,000. 

  4. A variety of income payout options.

  5. A return of premium option 

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                      Ultra-Premier:

Purchased with a single premium. The initial rate is guaranteed for 5 or 7 years.                               Features: 

  1. Competitive interest rate guarantee. 

  2. Tax-deferred growth. 

  3. Competitive renewal rates. 

  4. A variety of income payout options

How Annuity payments can be used

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How to use your annuity payments is up to you. Many people use the money to: 

  • Pay everyday living expenses

  • Supplement Social security payments or other income sources. 

  • Fund a grandchild's education

  • Contribute to charity

  • Purchase other insurance products.

What Annuities can offer

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  • Guaranteed, reliable income: One of the most difficult problems in retirement is determining how much income you'll need. Annuities provide reliable income that you can use however you wish. 

  • Tax-Deferred Growth: Taxes on annuity earnings are deferred until you begin taking out money. That may help you minimize the amount of tax you pay. 

  • Flexible Income Options: Everyone's situation is different. Annuities offer income options and choices of frequency so you can select what's right for you.

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