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Retirement Income Annuity

Planning for a secure retirement involves not only accumulating assets but also knowing when and how to convert those assets into regular income. A retirement income annuity program, or Immediate Annuity, gives you the flexibility to receive a stream of income in the amount and for the length of time you choose.

Available with either a fixed or variable annuity, Immediate Annuities are a great way to invest a lump sum from a retirement or severance package, and have the income paid out a little at a time—monthly, quarterly, semiannual, or annual—while the bulk of your assets remain invested tax-deferred.

Annuity Payout Options:

• Lump-sum—the entire annuity contract value is paid to you at one time.
• Systematic Withdrawals—you can start and stop withdrawals at any time, vary the amount, or receive a steady stream of income at regular intervals until all assets are paid out .
• Annuitization—Annuity is converted into a guaranteed income stream for life or a specified period of time.

Benefits of an Immediate Annuity

• Variety of income options, including lifetime, joint, and survivor (payments continue to a named beneficiary), or period certain (a period of time specified by you).
• Choice of contract types: Fixed Immediate Annuities provide dependable and guaranteed payments* regardless of market conditions, while Variable Immediate Annuities provide a fluctuating income stream that reflects the performance of the equity markets in which they are invested.
• No management or set-up fees (Fixed only).
• Income payments can be deferred for a year, or begin as soon as 30 days after you buy the policy.
• Payments of principal are received income tax free. Only the interest is taxable (provided the initial funding came from nonqualified assets).
• Ability to modify payments to accommodate inflation through a cost of living adjustment. (May not be available in all products.)
• Regular income can be used to pay utilities and other bills directly.

Variable annuities are sold by prospectus. Please consider the investment objectives, risk, charges and expenses carefully before investing. The prospectus, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest.

Variable annuities are long-term investments suitable for retirement funding and are subject to market fluctuations and investment risk.

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