Page 8 - WLIS-Spring-Magazine-2018
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It’s About FINANCIAL SECURITY
Can an IRA help you reach
your retirement goals?
An IRA, or Individual Retirement A fixed deferred annuity from Woman’s Life can help you enjoy:
Arrangement, is designed to help â–¶ Tax deferred accumulation of assets for the future
you accumulate funds to provide ▶ A lifetime income option – for a retirement income you can’t
financial security when you retire.
Federal law provides IRAs with outlive.
tax-favored status to encourage â–¶ Competitive fixed interest rates to avoid market volatility
people to save for retirement. â–¶ Principal guarantee
â–¶ No front-end administration fees.
The two most common types of
IRAs are traditional and Roth. At Woman’s Life, it’s all about you – and your dreams for a secure
Each type can help you save for re- financial future.
tirement, but your decision about
which will best meet your needs Life fixed deferred annuity can fit keeping them in force. For costs and com-
depends on several factors includ- into your retirement planning, plete details, contact your Woman’s Life
ing your age, income, and contact your Woman’s Life Representative or call Woman’s Life. Not
whether you’re also covered by an representative or call us at 800- available in all states.
employer-sponsored plan. 521-9292, ext. 261.
*The cash surrender value of your
Consult your Woman’s Life Like most insurance products, Woman’s Woman’s Life annuity will never be less
Representative or tax advisor to de- Life Insurance Society’s certificates con- than the total amount of premium paid
cide which plan is right for you. tain charges, limitations, exclusions, less any prior partial withdrawals.
termination provisions, and terms for
Make your retirement Annuity distributions may be taxable.
For further information you should con-
dreams a reality sult your personal tax advisor.
Even if you have a pension plan or Traditional IRA Roth IRA
other retirement savings, review
your progress regularly to make You can contribute if you have You can contribute if you have
sure you’re on track to meet your employment compensation.You employment compensation.
goals. A handy Retirement cannot contribute once you reach There are no age limits.
Calculator is available at age 70-½.
WomansLife.org/Needs. If there
is a gap between the amount Contributions may be tax-deductible. Contributions are not tax-deductible.
you’re currently saving and what Your deductions may be limited if you
you will need, a fixed deferred an- are covered by an employee-
nuity from Woman’s Life might sponsored retirement plan and your
be the solution. income exceeds certain levels.
With an annuity from Woman’s The maximum annual contribution to all of your IRAs (Traditional and Roth) is
Life Insurance Society®, you take the smaller of:
advantage of tax savings and the â–¶ $5,500, or $6,500 if you are age 50 or older (for 2017 and 2018); or
safety of a guaranteed minimum â–¶ Your taxable compensation for the year.
interest rate. You also benefit
from the power of compounding Contributions and earnings grow Contributions grow tax-deferred and
interest over time and our princi- tax-deferred and are treated as taxable are distributed tax-free; earnings grow
pal guarantee.* income when distributed. tax-deferred and qualified distribu-
A 10% federal tax penalty may apply tions are distributed tax-free.
It’s easy to get started to withdrawals before age 59-½. A 10% federal tax penalty may apply
Woman’s Life annuities can be es- to withdrawals before age 59-½.
tablished as traditional or Roth
IRAs and are suitable for 401(k) Required minimum distributions No required minimum distributions if
rollovers. To learn how a Woman’s (RMDs) begin at age 70-½. you are the original owner.
6 | WOMANSLIFE.ORG | SPRING 2018
