Single Premium Deferred Annuity
Single Premium Deferred Annuity
Ratings:
- A.M. Best -
About Product
Traditional Fixed Annuity Interest Rates
Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
---|---|---|---|
10 | 5% | 3.2% | 3.2% |
Issue Age
0-85 (Traditional IRAs: 18-69, only rollover amounts can be accepted at issue ages 70 and above. ROTH IRAs: 18-85)
Withdrawals
Withdrawal charges are imposed during the first ten certificate years only. Withdrawal charges are a percentage of the partial withdrawal and are the same percentage as the surrender charge. After the first certificate year you can withdraw as much as 10% of the accumulated value each year without charge. You can arrange for withdrawal to be distributed on a monthly basis.
This annuity does not allow any withdrawals during the first certificate year (including RMD).
Withdrawals from or surrender of annuities are subject to Federal Income Tax. In some circumstances a withdrawal may be subject to a penalty in addition to the Federal Income Tax.
Principal guarantee
Cash surrender value will not be less than the total amount of premium paid minus previous withdrawals.
Security
A wide variety of attractive retirement income options, including payments for life or a specific number of years.
Notes
From TSP, P/S, 457 Def Comp, may have to identify pre tax funds and after tax to set up an IRA account and / or NQ account.
Fraternal Benefits Available to Social & Benefit Members
Woman’s Life Member Discount Program
Life Line Screening
Accidental Death Fraternal Benefit
Local Chapter Involvement
Good Health Benefits
Woman’s Leadership Development Grant
Scholarship Opportunity
Riders
No Riders for Single Premium Deferred Annuity annuity.
Waivers
Nursing Home
Unavailable in states: NJ, NY, OR, and PA
Surrender and withdrawal charges are waived for confinement to a nursing home of a member or spouse for more than 30 days duration.
Terminal Illness
Unavailable in states: NJ, and NY
Surrender and withdrawal charges are waived for terminal illness with less than 12 months life expectancy of the member or spouse.
Annuitization
After the first certificate year, surrender and withdrawal charges are waived for annuitization to a life income option.