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!
FIXED INDEXED ANNUITY 5, 7, & 10 YEAR OPTIONS
WealthChoice WealthChoice is a fixed indexed annuity. While building your retirement savings, you deserve choices that will not compromise the safety of your money. If you seek accumulation opportunities that will protect you from market downturns, WealthChoice could help you achieve your individual goals. Most people desire a happy retirement without worrying about outliving their resources. United Life Insurance Company wants that for you, too. With WealthChoice , you could preserve your hard-earned wealth, ideally aligned to your own growth and allocation preferences.
WHAT IS A FIXED INDEXED ANNUITY?
A fixed indexed annuity is a tax-deferred contract with an insurance company, which can also provide payments to the owner at some point in the future when additional income is needed for a comfortable retirement. DEFERRED TAXES Taxes are deferred until you withdraw your earnings, and as a result, you earn interest on principal and interest on interest, all on a compounding basis. A fixed indexed annuity offers crediting options that: Credit fixed interest based on a fixed rate for one year; or Credit indexed interest based on the performance of an external index using a crediting methodology.
FIXED INDEXED ANNUITIES OFFER PARTICIPATION IN UP TIMES & PROTECTION IN DOWN TIMES
While the interest credited to a fixed indexed annuity is linked to various market indexes, the annuity does not participate in any stock, bond or equity investments. You are not buying shares of stock or an index. The index performance is used to determine the indexed interest credited to the funds you have chosen. However, the annuity is not credited the same performance as the measuring index. This is because the annuity premium is also guaranteed to never lose principal due to market downturns. Fixed indexed annuities offer participation for some of the market’s growth in up times, but also protection in down times.
GROWTH
Growth and Safety Advantages As a fixed indexed annuity, WealthChoice offers you many financial perks.
Diversified Savings Tool
You have competitive alternatives designed to perform well in different financial environments with a variety of interest rates.
Tax-Deferred Compounding
The growth power of an annuity may increase significantly throughout the life of your contract.
Decreases in index values do not negatively impact your WealthChoice annuity. Protection from Declines
FLEXIBILITY Access and Income
Although annuities facilitate retirement savings and income augmentation, occasionally you might need to access your assets sooner than anticipated. WealthChoice can accommodate.
Guaranteed Living Benefit Rider (GLBR) and Spousal Continuation This elective income benefit is offered within the WealthChoice 7- or 10-year plan and costs 0.95% of the accumulated value each anniversary. The GLBR rider permits lifetime withdrawals without regard to existing funds. Based on the owner’s age and whether he or she designates level or increasing payments, a withdrawal factor is multiplied by the account value to arrive at the Lifetime Yearly Income maximum. If Joint Income is elected for the spouse, who is also listed as the primary beneficiary, the surviving spouse could continue receiving the lifetime income payments.
Free Partial Withdrawals Starting your first contract year, you may withdraw up to 10% of your initial premium. Each following contract year you may withdraw up to 10% of the prior anniversary’s value. If you surrender your account or take withdrawals in excess of your Free Partial Withdrawal amount during your contract surrender period, the amount in excess of your 10% free amount will be subject to a surrender charge and Market Value Adjustment (MVA). The percentage of the surrender penalty depends on your contract year. Required Minimum Distributions The amount that the IRS requires you to withdraw annually after age 73 is always available without a surrender charge penalty, even if the amount is greater than your free annual withdrawal amount.
Annuity Payout Options When not electing the optional Guaranteed Living Benefit Rider for retirement income payouts, you have several other payout options to choose from: • A set number of payout years between 10 and 30 years • Payout guaranteed for your lifetime • Payout guaranteed for your lifetime, with a guaranteed period set between 10 and 30 years • Joint lifetime income for spouses • Joint lifetime income for spouses, with a guaranteed period set between 10 and 30 years
Systematic Withdrawals Depending on your withdrawal preference, you can elect to be paid on an annual, semi-annual, quarterly or monthly basis.
INTEREST CREDITING ACCOUNTS
WealthChoice has attractive allocation choices, including a fixed interest account and indexed options that are tied to various market indexes. You may allocate your funds to any of the following interest crediting strategies. You have the opportunity to reallocate account values among these options each contract anniversary, or simply continue your original selections — the choice is always yours.
FIXED ACCOUNT The fixed account is set by the issuing company. The fixed rate is declared each contract anniversary and guaranteed for one year. The fixed rate will never be less than 1%. Interest is credited daily.
HORIZON ASCEND 5%™ INDEX, POINT-TO-POINT PARTICIPATION
The Horizon Ascend 5%™ Index is managed by Horizon Investments, utilizing institutional and academic quality investment techniques to smooth returns under any market condition. Index growth is calculated from one contract anniversary to the next. If index growth is positive, it is multiplied by a Participation % to determine the indexed interest to be credited on the contract anniversary. Participation rate will never be less than 10%.
S&P 500® POINT-TO-POINT CAP
The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and covers approximately 80% of available market capitalization. Index growth is calculated from one contract anniversary to the next. If index growth is positive, it is multiplied by a Participation % to determine the indexed interest to be credited on the contract anniversary. Cap will never be less than 1%.
WealthChoice can be purchased for a 5-, 7- or 10-year period* with a single premium payment from $20,000 to $1,000,000. Throughout the first contract year, additional premiums may be applied (at a minimum of $5,000 and not to exceed $1,000,000 total). Additional premiums and any related bonus will be allocated to the fixed account and may be reallocated at the next contract anniversary. Please see surrender charge details on the disclosure page.
S&P 500® POINT-TO-POINT PARTICIPATION
The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and covers approximately 80% of available market capitalization. Index growth is calculated from one contract anniversary to the next. If index growth is positive, it is multiplied by a Participation % to determine the indexed interest to be credited on the contract anniversary. Participation rate will never be less than 10%. S&P 500® MONTHLY SUM CAP The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities. This index tracks the capital gains of a group of top performing stocks over time. Based on the sum of 12 monthly Index changes each contract year, not to exceed the Monthly Change % Cap. Negative monthly changes have no downside limit and can reduce the maximum Indexed Interest Credit. Monthly sum caps will never be less than 0.10% per month.
BARCLAYS GLOBAL QUALITY INDEX, POINT-TO-POINT PARTICIPATION
The Barclays Global Quality Index is managed by Barclays Bank PLC, featuring quality stocks, global bonds and commodities to seek returns while targeting a specific desired level of risk. Index growth is calculated from one contract anniversary to the next. If index growth is positive, it is multiplied by a Participation % that is credited annually. Participation rate will never be less than 10%. The initial Guaranteed Minimum Indexed Interest Participation Percentage rate set at issue for the Barclays Global Quality Index applies for the entire surrender charge period. The initial rate and any renewal rates during the surrender charge period will equal or exceed this Initial Guaranteed Minimum Rate.
* Check with your advisor for availability. WealthChoice 10 may not be available at bank locations.
TURN ON ADDITIONAL FEATURES
5% BONUS PREMIUM BONUS RIDER
This optional rider is available on WealthChoice 10. Your initial premium and any additional premiums paid within the first 90 days will receive a premium bonus of 5%, applied to the Account Value and allocated in the same manner as the initial premium. Additional premiums paid in the first 90 days, along with applicable Bonus, are allocated to the fixed account and the accumulated values may be reallocated at the next anniversary. There is no fee for the rider, though caps and pars may be lower than if no Premium Bonus Rider had been selected. If any withdrawal in excess of free partial withdrawals, Lifetime Yearly Income withdrawals, RMDs or full surrender occurs, some or all of the Premium Bonus may be forfeited in years one through five. The bonus is fully vested in year six. 110% BENEFIT DEATH BENEFIT In the event of death, the account value will be paid to your beneficiaries. If the sole primary beneficiary is the legal spouse of the owner, they will be able to assume ownership. 5-Year Death Benefit Enhancement: If the beneficiary elects the 5-year payout option, the death benefit will be multiplied by 110% prior to determining the periodic payment. 100% RETURN RETURN OF PREMIUM GUARANTEE WealthChoice provides a return of premium guarantee. After the end of your fifth contract year, the amount available for Full Surrender will never be less than the initial premium, adjusted for any withdrawals taken to that point.
DISCLOSURES
Surrender Charges will apply during the 5-, 7-, or 10-year Surrender Charge Period. Charges are assessed upon a Full Surrender or Partial Surrender, after deducting the amount of any Free Partial Surrender and Market Value Adjustment that may apply. Surrender Charges are equal to a percentage multiplied by the Accumulation Value being surrendered according to the schedule shown below:
Contract Year of Surrender: 5 Year SC Percentage: 7 Year SC Percentage: 10 Year SC Percentage:
1 2 3 4
5
6 7 8 9
10 thereafter
9% 8% 7% 6% 5%
0% 0%
9% 8% 7% 6% 5% 4% 3%
10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%
A Market Value Adjustment (MVA) is a positive or negative adjustment applied only during the surrender charge period to full surrenders and any partial surrender in excess of the Free Partial Surrender available. Refer to the product disclosure and policy for more details. The Horizon Ascend 5% ™ Index is a trademark of Horizon Investments®, LLC (“Horizon”) and has been licensed for use for certain purposes by or on behalf of the annuity. The Index is the exclusive property of Horizon and is made and compiled without regard to the needs, including, but not limited to, the suitability needs, of United Life Insurance Company , the annuity, or the annuity contract owners. The annuity is not sold, sponsored, endorsed or promoted by Horizon or any other party involved in, or related to, making or compiling the Index. Neither Barclays Bank PLC (“BB PLC”) nor any of its affiliates (collectively, “Barclays”) is the issuer or producer of fixed index annuities and Barclays has no responsibilities, obligations or duties to policyholders in fixed index annuities. The Barclays Global Quality Index (the “Index”), together with any Barclays indices that are components of the Index is licensed for use by United Life Insurance Company (“ ULIC ”) as the issuer or producer of fixed index annuities (the “Issuer”). Barclays’ only relationship with the Issuer in respect of the Index is the licensing of the Index, which is administered, compiled and published by BB PLC in its role as the index sponsor (the “Index Sponsor”) without regard to the Issuer or the fixed index annuities or policyholders in the fixed index annuities. Additionally, ULIC as the Issuer may for itself execute transaction(s) with Barclays in or relating to the Index in connection with fixed index annuities. Policyholders acquire fixed index annuities from ULIC and policyholders neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon making a purchase in fixed index annuities. Fixed index annuities are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the fixed index annuities or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, policyholders or to other third parties in respect of the use or accuracy of the Index or any data included therein.
The S&P 500® Price Return Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (“SPDJI”) and has been licensed for use by United Life Insurance Company . Standard & Poor’s ® and S&P ® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (“S&P”); Dow Jones ® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). United Life Insurance Company’s insurance products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s)nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 ® Price Return Index. Not FDIC/NCUA insured • Charges may apply • Not bank/CU guaranteed • Not a deposit • Not insured by any federal agency • May go down in value
A fixed index annuity is not a security and is not an investment in the stock market. Index account interest is based, in part, on index performance. Past performance of an index is not an indication of future performance. WealthChoice Fixed Indexed Annuity is underwritten and issued through United Life Insurance Company. Guarantees are backed by the financial strength and claims paying ability of the company. Product availability and features may vary, and some features may not be available in all states. Read the policy for exact details on benefits and exclusions. If there is a discrepancy between the product as described here and the policy issued to you, the provisions of the policy will prevail. The product is generally issued under policy form UNL-FIA02.
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