Annuities
Save for retirement with more certainty.
An annuity is a common way to help save for retirement with tax advantages and to convert assets into a regular income stream during retirement.
You can buy an annuity using a single deposit, or with flexible, ongoing premiums over time. Some annuities are available for shorter or longer time periods.
In New York, we may offer state-specific annuities, and not all products are available. Ask your agent for details.
Annuity solutions designed for real life.
National Life Group offers several types of annuities to meet your differing needs.
#1 Provider of Fixed Indexed Annuities for employer-sponsored plans.
Single Premium Indexed Annuity
An SPDA is a tax-deferred indexed annuity that will only accept a single payment made directly to National Life Group or through a transfer or rollover. Not available in NY.
Flexible Premium Indexed Annuity
An FPDA is a tax-deferred indexed annuity that accepts multiple premium payments while the annuity is in its accumulation period. Payment methods may include salary reduction payments, bank draft or pre-authorized check plan payments, transfers, rollovers, and single sum direct payments. Not available in NY.
MYGA / Fixed Single Premium Annuity
A fixed single premium annuity is a tax-deferred annuity that will only accept a single payment made directly to National Life Group or through a transfer or rollover.
Fixed Flexible Premium Annuity
Green Mountain Freedom Flex is a tax-deferred fixed annuity that accepts multiple premium payments while the annuity is in an accumulation period. Payment methods may include salary reduction payments, bank draft or pre-authorized check plan payments, transfers, rollovers, and single sum direct payments. Only available in NY.
Fixed vs. indexed annuities.
Annuities offer a way to grow savings based on a fixed interest rate or on the performance of an index.
Fixed Annuities
- Fixed interest rate
- Guaranteed minimum rate
Indexed annuities
- Based on the performance of an index such as the S&P 500
- No direct participation in stock or equity investments
- Downside protection through minimum guarantees to ensure that your cash value will not decline due to decreases in the index
- Offers greater earnings potential than a fixed annuity, but in years when the index is down, no interest will be credited.
- Buying an annuity within an IRA or other tax-deferred retirement plan does not give you any extra tax benefits. If considering an annuity within a retirement plan, base your decision on the annuity's other features and benefits as well as its risks and costs, not on its tax benefits. Withdrawals prior to age 59 1/2 may be subject to a 10% Federal Tax Penalty.
- Guarantees are based on the claims-paying ability of the issuing company.
- Standard & Poor's 500, S&P 500, and Standard & Poor's 500 are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Life Insurance Company of the Southwest.
- Assuming no withdrawals during the withdrawal charge period. Rider charges continue to be deducted regardless of whether interest is credited.
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