This is a sample of what an annuity quote looks like from a 24 year veteran of the annuity services industry. There are 8 types of annuity benefits available. You choose the type(s) you like. A Safe Money Singer Annuity Quotation might be the most thorough annuity quote to be found on the internet!
S afeguard P lus ® Multi-Year Guaranteed Annuity (MYGA)
Protection from uncertainty, predictability for your future
Safeguarding your assets with flexibility for changing needs There’s no better time than today to be planning for a more confident tomorrow. Yet both the marketplace and life are filled with uncertainty. With so many options available for protecting your assets and maximizing your savings, it can be difficult to decipher which strategies meet your needs. Our signature Farmers Safeguard Plus multi-year guaranteed annuities (MYGAs) may be right for you if you’re looking for:
+ A straightforward way to safely grow your savings on a tax-deferred basis;
+ A guaranteed fixed rate of interest over a pre-determined period of time;
+ Protection from market risk;
+ Options for accessing a portion of your funds should you need them to satisfy required minimum distributions (RMDs) or other financial obligations; + Full access to your account for unexpected health care costs, namely qualifying nursing care, or in the event of terminal illness;
+ The option of turning your annuity into guaranteed payments for life; and
+ The ability to provide a legacy for loved ones through a death benefit.
Designed for real people and real life, these simple-to-understand annuities can help achieve your unique financial goals while making it easier for you to adapt as your needs change and your life evolves.
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The basics of annuity benefits Annuities are long-term saving vehicles that can provide a variety of features and benefits to help you prepare for your retirement and manage your money during those years. In purchasing an annuity, you pay a premium to Farmers Life Insurance Company in exchange for a contract that provides detailed benefits to you throughout the contract term. An annuity can help protect and grow your nest egg, with the option of converting your account into scheduled income payments you cannot outlive. GUARANTEED RATES The Farmers Safeguard Plus is a single premium-deferred annuity that begins earning a fixed rate of interest immediately upon the contract effective date. Interest earnings will be compounded daily. Our annuity offers multiple guarantee periods to align with your specific needs: 3, 5, 7 or 10 years. You will earn the specified interest rate for the entire time period you select — guaranteed! PROTECTION FROM MARKET RISK Our MYGA series ensures your principal and interest earned are not subject to market risk or potential fluctuations. With no market risk and a guaranteed interest rate, your money and the interest you earn are protected. TAX-DEFERRED GROWTH With a Farmers Safeguard Plus MYGA, your money grows on a 100% tax- deferred basis, meaning you don’t pay taxes on the interest as it’s earned, only at the time of withdrawal. Because the interest earned will compound over time, you may be able to generate greater accumulation.
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The power of tax deferral at work
$300,000
With Tax Deferral Without Tax Deferral
$250,000
$200,000
Example uses an initial premium of $100,000 with interest compounded at a rate of 5.0% over a period of 20 years, assuming no withdrawals are taken. This chart is for illustrative purposes only. It is not intended to be indicative of the performance of any specific investment. Your results may vary.
$150,000
$100,000
$50,000
$0
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YEAR
ISSUE AGES & PREMIUM REQUIREMENTS Minimum Premium for All Guarantee Periods: $10,000 Maximum Premium for All Guarantee Periods: $1,000,000 3- and 5-Year Issue Ages 18-95 7- and 10-Year Issue Ages 18-90 PENALTY-FREE WITHDRAWALS You may withdraw the accumulated interest earned in any year without any withdrawal or Surrender Charges or Market Value Adjustment (MVA) being applied. Withdrawals must be a minimum of $100. On each policy anniversary, accumulated interest is reset to zero for purposes of penalty- free withdrawals. SPOUSAL CONTINUATION In the unfortunate event you pass away during your contract term, if your spouse is either the surviving joint owner or your surviving beneficiary, rather than take the contract’s death benefit, your spouse may continue the contract as if your spouse were the original owner. DEATH BENEFIT If you are the sole owner of your annuity, in the unfortunate event you pass away during your contract term, your beneficiary(ies) will be paid a death benefit equal to the Accumulation Value 1 of your annuity. No surrender charges or MVA will be assessed, and your beneficiary does not need to wait until the end of the contract term to access to the money. A beneficiary may choose to receive the death benefit in either a lump sum or any of the available annuitization options.
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1 The Accumulation Value of your Farmers Safeguard Plus MYGA is your initial premium plus interest credited less any deductions for prior partial surrenders.
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SURRENDER CHARGES Sometimes unexpected things may happen that cause you to need access to your money. If you choose to withdraw any amount in excess of the penalty- free withdrawal amount, you will be subject to a Surrender Charge that is calculated based on the policy year of your current Multi-Year Interest Rate Guarantee Period. Surrender Charges may differ by state.
Surrender Charge Schedule
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3 -Year
9.0% 8.0% 7.0%
5-Year
9.0% 8.0% 7.0% 6.0% 5.0%
7-Year
9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0%
10-Year
9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.5% 1.5% 0.9%
MARKET VALUE ADJUSTMENT (MVA) An MVA will apply to any full surrender or partial withdrawal that exceeds the maximum penalty-free withdrawal during the guarantee period. Depending on the direction interest rates move, the MVA may increase or decrease benefits available under the contract. The MVA does not apply to the death benefit or the guaranteed surrender value. PENALTY-FREE WITHDRAWAL WINDOW During the first 30 days of a Multi-Year Interest Rate Guarantee Period, you may take a penalty-free partial or total withdrawal of your principal and earned interest without being subject to a surrender charge or MVA. AUTOMATIC RENEWAL At the end of the guarantee period, if you decide not to make an election, you will automatically be rolled into a contract of the same term and guarantee period with a new rate. Surrender charges will apply. This rate will never be less than the minimum guaranteed rate listed on your schedule page. ANNUITIZATION Creating an income stream for life can help you minimize worry about outliving your assets. On your annuity date, you have the option of annuitizing your contract, or turning your annuity into scheduled payments for life. The annuity date is set in your contract.
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On the “Plus” side Because no two customers have the same financial circumstances or needs, we’ve included two optional riders that you may choose to elect to customize the contract for your situation. 2 ENHANCED BENEFIT RIDER In the event you are (a) diagnosed with a terminal illness that is expected to result in death within one year or (b) continuously confined in a qualified nursing care facility for at least 90 days, the Enhanced Benefit Rider allows you to access your funds after the first contract year without paying surrender charges or an MVA. 5% FREE WITHDRAWAL RIDER If you’re looking for more flexibility in how you access your assets during the guarantee period, you may elect the 5% Free Withdrawal Rider. It allows you to access the greater of 1) 5% of the contract value as of the last Contract Anniversary; or 2) your required minimum distribution (RMD), as calculated under the Internal Revenue Code, without paying surrender charges or an MVA.
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2 Election of one or both optional riders may reduce crediting rates set forth in the contract.
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Get on track for achieving your financial goals
You’ve likely heard retirement referred to as your “golden years.” By proactively taking steps to protect and grow your savings, in addition to flexibly addressing other top priorities, a Farmers Safeguard Plus multi-year guaranteed annuity may be able to help you enjoy them as you deserve. To get started, visit farmerslifeins.com . You can download and complete our application in as little as 10 minutes, funding and signing included! After contract issue, you can also access your account information online 24/7 to make tracking your financial progress a snap. Looking for more detailed information about our products and how they might fit into your personalized plans for retirement? As with the purchase of any financial product, you should consider a variety of factors in determining the suitability of an annuity in meeting your own needs. A licensed insurance agent can help you identify your time horizon, liquidity needs, risk tolerance, financial objectives and more to determine strategies in your best interest. Farmers Life Insurance Company is making preparing for tomorrow simple and stress free, because we believe it’s time for you to stop worrying and start earning.
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Farmers Life Insurance Company 243 North Peters Road, Knoxville, TN 37923 865.444.0613 FarmersLifeIns.com
Withdrawals of earnings will be subject to income tax and may be subject to a 10% IRS penalty tax if taken prior to age 59½. An annuity contract may be purchased on a non-qualified basis or for use within certain qualified retirement plans or arrangements that receive favorable tax treatment. Many of these qualified plans, including IRAs, provide the same type of tax-deferral as provided by an annuity contract, and the annuity contract does not provide any additional tax-deferral benefit. An annuity contract, however, does provide a number of other benefits and features not provided by such retirement plans or arrangements alone. Consult with a qualified tax and/or financial professional regarding the use of an annuity contract within a qualified plan or in connection with other employee benefit plans or arrangements. Farmers Life Insurance Company is a licensed life insurance company. Guarantees associated with all annuity policies sold by Farmers Life Insurance Company (NAIC #60230), 243 North Peters Rd. Knoxville, TN 37923 (“Farmers Life”) are backed by the financial strength and claims paying ability of Farmers Life. Annuity contracts and features may vary by state and may not be available in all states. Once an optional rider is selected, it may not be removed during the guarantee period. This product is a single premium, deferred fixed annuity that provides a minimum guaranteed surrender value. You should understand how the minimum guaranteed surrender value is determined before purchasing an annuity contract. Interest rates are subject to change.
Policy ICC21-FLIC-CON; Riders ICC21-FLIC-FWR, ICC21-FLIC-EBR.
All quotes and estimates are non-binding and are not to be construed as a guarantee you will be able to purchase insurance. Neither Farmers Life nor any of its agents or representatives, provide any legal, tax, or financial planning advice. For legal, tax, or financial planning advice concerning your specific situation, please consult an attorney, tax professional, or certified financial planner. The information provided is intended for use by the general public and is not individualized to address any specific investment objective. It is not intended as investment or financial advice or as a recommendation to purchase a product. Annuity contracts contain limitations. Please consult the contract for more details regarding these limitations.
Not FDIC or NCUA/NCUSIF Insured May Lose Value • No Bank or Credit Union Guarantee Not a Deposit • Not Insured by any Federal Government Agency
SP220002CBR (08/23)
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