Funding Your Future with Guaranteed1 Income
When it comes to planning for your financial future, an annuity can help supplement retirement income or reach other big goals. We offer two types of annuities:
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Fixed Annuities offer a fixed interest rate, ensuring your balance will grow at a steady rate.
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Indexed Annuities are often considered the best of both worlds, taking advantage of potential gains in the market while protecting your account balance from loss.
You can begin to receive annuity payments upon reaching age 59½ (any earlier and you could be charged penalties). It’s up to you how you’ll be paid – one lump sum, annually, quarterly, etc.2 – and you can also decide how long you’ll receive payment with options ranging from one-time to a lifetime.
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Planning for the Whole Picture
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Annuities are often just one component of a retirement strategy that could include Social Security, 401(k) plans and/or IRAs. We can be a valuable resource when it comes to choosing an annuity as part of your overall strategy.
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1The guarantees expressed on this web page are based on the claims-paying ability of Farm Bureau Life Insurance Company.
2Depending on which income payment option is selected and whether the annuity is qualified or non-qualified, you may need to pay federal income tax on any earnings withdrawn from the annuity and/or the principal withdrawn. Also, surrender charges may apply if funds are withdrawn before the annuity’s surrender charge period expires. IRS penalty if withdrawn before age 59½. Neither the Company nor its agents give tax, accounting or legal advice. Consult your professional advisers in these areas.
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