Kelly Clark

Our Most Important Policy is Trust.®

 
 
Kelly Clark
706-865-2721
Cleveland, GA
 
Thursday, May 17, 2012

The Facts About Fixed Annuities

A fixed annuity from Cotton States Insurance can be a great addition to your retirement plan. 

An annuity provides the opportunity to accumulate money for your retirement. It offers many benefits and the unique ability to give you guaranteed payments for life.

How an annuity works:

  • You make a single payment or series of payments into your annuity and will receive a guaranteed interest rate. And with non-qualified plans, there are no limits to how much you can put into an annuity.
  • You can start taking payments at age 59½ without penalty (tax penalties may apply to withdrawals taken before age 59½, and surrender charges may apply at any time, under certain conditions).
  • When you’re ready to start taking money out of your annuity, you can choose from a variety of ways to receive your payments – including receiving payments for the rest of your life.

Benefits of fixed annuities:

  • Tax-deferred buildup
    • You don’t pay income tax on the buildup accumulated in your annuity until you make withdrawals.
  • Various payment options
    • You can choose to receive guaranteed income for as long as you live, or as long as you and your spouse live – monthly, quarterly, semi-annually, or annually. We’ll send you a check for each scheduled payment, based on the rate declared by the company at that time – but not to fall below the contractual guarantees.

COUNTRY offers three types of fixed annuities:

1) Flexible Premium Deferred Annuity

  • Flexible deposits
    • You can start this annuity with a minimum of $50 and choose to pay annually, semi-annually, quarterly, or monthly. You can even have your payments deducted from your checking account each month.
  • Guaranteed interest rates
    • A special interest rate is guaranteed on purchase payments for the first contract year. At the end of one year, the company’s portfolio rate then applies to the accumulated value. The portfolio rate is periodically determined by the company and may go up or down as economic conditions change, but will never fall below the guaranteed minimum.

2) Single Premium Deferred Annuity

  • One-time payment
    • You make a one-time payment of at least $10,000.
  • Choose from three guaranteed interest rate periods:
    • Three years
    • Five years
    • Seven years
  • Competitive interest rates
    • Special interest rates apply to the initial guarantee period. After the guarantee period, your contract is credited with the company’s current portfolio interest rate.

3) Single Premium Immediate Annuity

  • This annuity is similar to the Single Premium Deferred Annuity, but you begin receiving payments immediately after you make your one-time payment (instead of at a later date).

As a Cotton States financial representative, I can help you achieve your retirement goals. 

I’d be happy to talk to you about annuities and answer your retirement questions.

Learn more

Annuities issued by COUNTRY Investors Life Assurance Company®, Bloomington, IL.

All guarantees are subject to the claims paying ability of COUNTRY Investors.

Cotton States 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. Cotton States believes our annuity contract has been designed to comply with current income tax requirements. See your tax advisor for full details.

The information above provides a brief description of the major features of fixed annuities available from COUNTRY Investors Life Assurance Company. This is not a contract. The annuity contract, if issued, will set forth the right and obligations of you and COUNTRY Investors. For cost and further details, see your Cotton States financial representative or write COUNTRY Investors Life Assurance Company.