It's important to keep in mind that when considering an annuity for a qualified plan, tax deferral can be achieved through other investment vehicles funding the plan. However, an annuity may be particularly appropriate for its features, such as lifetime income options, family protection through death benefits, and nursing home riders. Early withdrawals may be subject to surrender charges. Loans are not available under non-qualified annuities. A traditional fixed account that guarantees your interest rate for 1 year and through the end of the calendar quarter in which a premium payment is made.
Interest rates renew annually and fluctuate with economic conditions at the date of renewal.
Renewal rates may be lower. The renewal interest rate will be the new money interest rate in effect for the 3-Year GPA at the time of renewal. After the second 3-Year GPA period, the assets are transferred to the Fixed Account. Rate Guarantee your interest rate for 6 years from the end of the calendar quarter in which a premium payment is made. At the end of the 6-Year GPA, the assets are transferred to the Fixed Account.