Single-Premium Deferred Fixed annuities
Single premium deffered fixed annuities offer guaranteed interest rate periods.
Product Strengths
- 10 percent annual withdrawal without surrender charges
- Seven-year surrender charge (7, 7, 7, 6, 5, 4, 2, 0%)
- Optional Gain Enhancement Benefit Death Benefit Riders (GEB and GEB Plus)
- Choice of one-year enhanced interest rate, level three-year or seven-year interest rate guarantee
- Nursing Home waiver included
- Issue ages* 0 - 80 (81 - 85 with restrictions)
Flexible Premium Annuities
Flexible Premium is a flexible payment, fixed-rate, individual deferred annuity, combines the power of compound interest with the safety your client needs. Payments invested today accumulate tax deferred. Unlike some fixed-rate investments, there are no current income taxes due on interest that remains within the contract. Interest is taxable as ordinary income when withdrawn or paid from the contract. For tax purposes, withdrawals come first from interest then principal. Upon annuitization, the interest portion of each annuity payment is taxable for the year in which the annuity payment is made. If your client is in a lower tax bracket at annuitization than during the accumulation period, he or she may realize a tax savings by the tax-deferred treatment of the interest.
Product Strengths
- Issue Ages: 0-75* (must annuitize by age 85)
- Minimum Payment: $50
- Annual Premium Maximum: $50,000
- Guaranteed Death Benefit: Contract value on the date of annuitant's death, without surrender charge
- Free Withdrawals: Up to 10% of the contract value annually, after first contract anniversary, without surrender charge; $100 minimum; Contract value cannot drop below the lesser of: (i) $2,000; or (ii) $500 times the number of contract years in force
- Annual Contract Administration Charge: None
- Surrender Charge: Based on the years that have elapsed since the contract date to the date of withdrawal for nine years at 8, 7, 7, 6, 5, 4, 3, 2, 1%**
- Guaranteed Minimum Interest Rate: 1.00 percent
- Primary Funding Vehicle for Ohio National's 412(i) Plan
Immediate Annuity
The Secure Annuity may be ideal for clients who want a retirement income they can't outlive or a guaranteed income that is not affected by changing interest rates or market fluctuations. With the Secure Annuity, your client can receive a guaranteed income for a definite period, for life or for a combination of both. Single payee or joint payees available.
Product Strengths
- Guaranteed income stream
- Great for clients who need income to cover retirement expenses
| Type | Single Premium Immediate Annuity |
| Issue Ages | 0-90 |
| Minimum Payout | $25 per installment |
| Surrender Charge | Not applicable |
| Payment Guarantee | Single premium immediate annuities do not have a stated rate of return. The rate of return will depend on the client's age and sex, interest rate, payment mode, annuity option and length of the annuitant's life. | Payout Options | Life Annuity - This provides a guaranteed income for as long as your client lives. Nothing is paid after his/her death. It produces the highest periodic payment amounts of all life annuity options. Life Annuity with Period Certain* - This provides a guaranteed income for your client's life, and if he/she dies within a specified period of time (from 5 to 40 years), payments continue to a selected beneficiary for the remainder of the specified period. Life Annuity with Installment Refund - This provides a guaranteed income for you client's life, and if he/she dies prior to receiving total payments equal to the cost of his/her benefit, payments will continue to a selected beneficiary until the original cost is recovered. Period Certain* - This provides a guaranteed income for a selected period of time (from 5 to 40 years), and if your client dies before the end of the selected period, payments continue to a selected beneficiary until the end of the period. Joint and Survivor Life Annuity - This provides a guaranteed income for the lives of two persons as long as either one is still living. Provisions can be made for continuing payments to a beneficiary if both annuitants die before receiving a specified number of payments. Your client can also elect a reduced level of payments after the first annuitant dies. This allows for higher income payments while both annuitants are living. * The period certain is limited to the IRS RMD Life Expectancy for most tax-qualified plans. |
| Submitting a Secure Annuity case |
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