|
What is an annuity?
An annuity is a contract you make with an insurer—in this case Thrivent Financial for Lutherans. You can make a lump sum payment or a series of payments and Thrivent Financial agrees to pay that money—plus the interest it earns—back to you in a lump sum or over a period of time that you select.
Why annuities?
Many people choose fixed annuities to help meet their retirement planning goals because annuities take the guesswork out of planning for the future.
Especially during times of market volatility, investors are reminded of the need for stability when saving for important goals such as funding your retirement.
With the guaranteed interest rates of a fixed annuity you avoid market volatility. Thrivent Financial supports these guarantees by investing in a well-balanced portfolio of quality corporate and government securities—leaving you with guaranteed retirement income.
Fixed annuities offer:
- Guaranteed rate of return. You'll know exactly how much interest your annuity will earn each year. Thrivent Financial also guarantees the interest rate will never fall below a minimum rate.*
- Tax-deferred growth. You won't pay taxes on any of the earned interest until you start to make withdrawals, so your money will accumulate more quickly.
- Flexibility of contributions. With a flexible premium annuity, you are able to set aside how much you want and when you want to invest for retirement.**
To provide peace of mind
A fixed annuity can bring balance to a retirement portfolio that may already hold more aggressive investments such as stocks, or can simply add a degree of safety and stability to your overall investment plan.
And with a fixed annuity, you can choose to receive income you can't outlive. You can choose to receive income over your entire lifetime or for a specified number of years—it's your choice.
Fixed annuities offer many benefits for the conservative investor, including:
- Guaranteed return of premium payments. You will receive no less than the sum of all premiums paid, less any previous withdrawals, if the annuity is surrendered.**
- Access to accumulated value. You can withdraw a percentage of your accumulated value without incurring surrender charges each year. And, when you start taking regular withdrawals in retirement, you can choose from several convenient, tax-advantaged options.***
- Benefits to your beneficiary. Proceeds from an annuity can pass directly to your beneficiary, bypassing the time-consuming and costly probate process.
You also have the peace of mind knowing that you can access the funds in your annuity without surrender charges in cases of terminal illness, or nursing home confinement.****
Guarantees are backed by the financial strength and claims-paying ability of Thrivent Financial for Lutherans.
*Guaranteed minimum interest rates vary by state.
**Not available on all products.
***The taxable portion of each annuity distribution is subject to income taxation. If a taxpayer is younger than 59 1/2 at the time of distribution, a 10-percent federal tax penalty will apply to the taxable portion of the distribution unless a penalty-tax exception applies.
****Nursing home confinement waiver is not available in all states.
Your Thrivent Financial representative can help
Contact your financial representative for more information about a Flexible Premium Deferred Annuity or Single Premium Deferred Annuity from Thrivent Financial for Lutherans. He or she can provide you with costs, complete details of coverage, exclusions, reduction of benefits, and terms under which the contract may be continued in force or discontinued.
|