1Based on the claims-paying ability of Farm Bureau Life Insurance Company. Neither the Company nor its agents or advisors give tax, accounting or legal advice. Consult your professional advisor in these areas.
Fixed Annuities
Ready, set, earn for your future with a fixed annuity.
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If you’re looking to increase your account value but prefer less-risky investment options, an annuity with a fixed interest rate may be the right fit for you. We offer two types of fixed annuities: deferred annuities and immediate annuities.
Deferred Annuities
When you choose a deferred annuity, you let the interest accrue for a specified period of time before you begin making withdrawals. This is tax-deferred growth, which means you don’t pay income tax on your earnings until your money is withdrawn, allowing your account to grow more quickly. Because these withdrawals typically happen in retirement, when your tax bracket is likely lower, more of your money will work for you.
Distribution
When you’re ready to receive your annuity income stream, you can receive payments monthly, quarterly, annually, etc.1 – whatever is best for your situation. These payments can start any time after the surrender charge period of your annuity has ended, though there are penalties for withdrawals before age 59 if you fund the annuity with money from a retirement account.
You can also decide on how you want to structure your annuity income stream. Do you want an income stream for a certain number of years, in a certain dollar amount or as long as either you or your spouse are alive?
Financial Protection for Others
If you die before your annuity payout begins, your beneficiaries will receive the accumulated value of the annuity. Death proceeds are paid directly to your beneficiaries, so there should be fewer costs or delays in receiving the proceeds. Funds received may be subject to income tax.
Current Offering
Simple Select Fixed Annuity is a single premium annuity with varying contract lengths to give you both flexibility and peace of mind.
Immediate Annuities
When you choose an immediate annuity, the payout is determined when you invest based on the premium, rate and the payout option you select.
Distribution
With an immediate annuity, you begin receiving your monthly, quarterly, semiannual or annual payments within the first 13 months1. You decide the structure of the income steam by choosing to receive payments for a specified number of years, a lifetime or a lifetime with a guaranteed minimum number of payments.
Because you are able to choose your payout options, you can structure the annuity to meet your needs, such as covering your fixed expenses in retirement or bridging a gap between the time you retire and payouts from other sources.
Current Offering
Single Premium Immediate Annuity is a single premium annuity that provides an equal, regular distribution so you have access to the income you need, when you need it.
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