Annuities are one of the best ways individuals have to set aside money on a tax-deferred basis.
A unique feature of an annuity, not found in any other investment vehicle, is that it can provide a stream of income that cannot be outlived. If the annuity benefits are to be paid over a lifetime, the monthly or annual benefit amount is guaranteed to come each and every month or year regardless of how long the individual lives. Several other payment options are also available. In the event of death, all proceeds can pass directly to a named beneficiary, without surrender charge, probate delay, estate settlement costs, or publicity.
Advantages of an Auto-Owners Life Insurance Company Deferred Annuity
- Safety - Auto-Owners Life Insurance Company has been awarded an A.M. Best rating of A+ (Superior). A.M. Best Company is a leading independent organization for rating financial strength of insurance companies. In addition, Auto-Owners Insurance Company has been named to the 2007 Ward's 50 Benchmark Group for achieving outstanding financial results in the areas of safety, consistency, and performance. Auto-Owners Life Company has been satisfying its customers since its beginning in 1966.
- No set up or annual administration fees.
- Single or multiple deposits for varying amounts can be made at any time.
- You have a choice of current guaranteed interest rates for six years, or a fluctuating rate of interest program. Auto-Owners Life Insurance Company deferred annuity products may have restrictions or limitations. They contain surrender charges on early withdrawals, and the IRS imposes a 10% penalty tax for most withdrawals before age 59-1/2.
For additional information, or a personalized illustration, visit an independent Auto-Owners agent near you.
This is intended for general informational purposes only and not intended as legal or tax advice or as a statement of the law.
Auto-Owners Life Insurance Company products are among the best in the industry. We pride ourselves in providing high quality, fairly priced life insurance, disability income, long term care and annuity programs.