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About Fixed Deferred Annuities

Fixed Deferred Annuities

Common Features of Woman's Life Fixed Deferred Annuity Plans

  • Annuity plans may be purchased as IRA's or as non-IRA plans. Non-IRA plans are generally available from ages 0-85 because these plans are appropriate for many adults and, in some limited circumstances, for children. Traditional IRA's are issued from ages 18-85, but only rollover amounts are accepted over age 69. Roth IRA's are issued at ages 18-85.
  • Contributions to a Woman's Life annuity plan may be made as a single lump-sum premium payment (subject to plan minimums), as regularly scheduled deposits, or on an intermittent basis depending on the plan selected.
  • Deferred annuities are designed as long-term retirement plans; however, your money is accessible if you need it prior to retirement. You may take a portion of the money through a withdrawal or by surrendering the annuity. Withdrawals may be distributed on a monthly basis or as a lump sum. Surrender terminates the annuity.
  • Withdrawal and surrender charges are applied for the first 5, 8, or 10 years depending on the plan you choose. The withdrawal charge is based on a percentage of the withdrawal. The surrender charge is based on a percentage of the accumulated value. These percentages decrease over the surrender charge period. But the money available to you will never be less than the total amount of premium paid minus any previous withdrawals. This means that your principal is secure. Withdrawal or surrender before age 59 ½ may result in a 10% federal tax penalty in addition to the withdrawal or surrender charge.
  • After the first year you can withdraw as much as 10% of the accumulated value each year without charge by Woman's Life. The federal tax penalty may still apply if you make a withdrawal before age 59 ½.
  • Withdrawal and surrender charges are waived if you or your spouse are confined to a nursing home for more than thirty days, or have a terminal illness with less than twelve months' life expectancy.
  • After the first year, withdrawal and surrender charges are waived if you decide to begin receiving payments under a life income option.
  • Your savings grow due to compound interest and your earnings are not taxed until Woman's Life makes payments to you.
  • Woman's Life guarantees a minimum interest rate of 3%. The actual interest rates may go up or down and the method of crediting interest varies according to the plan you select. Woman's Life reviews all rates periodically.
  • There are no front-end loads or administrative charges to dilute your earnings.

Woman's Life offers four Fixed Deferred Annuity plans:

For more information, request an appointment with a Woman's Life representative by completing our Contact Form.