Summary of Western National Security Builder 5 Annuity
Safety for your funds.1 With the return-of-premium guarantee, you can even return your annuity anytime for an amount equal to your single payment (premium)—less any withdrawals of interest or principal—or the withdrawal value (annuity value less any early withdrawal charges), whichever value is greater.
Tax-deferral advantage.2 You can postpone taxes on your interest earnings until you are ready to make withdrawals.
Early withdrawal charge waivers. Multiple early withdrawal charge waivers are available and can be used if you: need to stay in a nursing home, are unable to perform certain activities, or discover you have a terminal illness.
Estate-planning advantage (death benefit). Fixed annuities generally avoid the expense and delay of probate (a court-supervised process that establishes the validity of a will).
Multiple income payout options. When you are ready to start taking income, you can choose an income option that guarantees income for life or for a certain period.
For more information:
Clients: Call Client Care Center at 1-877-289-0256
Selling Agents: Call Internal Wholesaling at 1-888-237-4210
1 This and all guarantees mentioned are subject to the claims-paying ability of The United States Life Insurance Company in the City of New York. Annuities have limitations.
2 Taxes are due upon withdrawal and withdrawals taken prior to age 59½ may be subject to a 10% federal income tax penalty. Contractual withdrawal charge fees may also apply.
3 Depending on market conditions, some interest rate guarantee options may not be available at all times. Please check with your licensed representative for availability.
Tax-qualified contracts such as IRAs, 401(k)s, etc., are tax deferred regardless of whether or not they are funded with an annuity. If you are considering funding a tax-qualified retirement plan with an annuity, you should know that an annuity does not provide any additional tax-deferred treatment of earnings beyond the treatment by the tax-qualified retirement plan itself. However, annuities do provide other features and benefits such as income options.
Neither The United States Life Insurance Company in the City of New York nor its agents or representatives are authorized to give legal, tax or accounting advice. Please consult your attorney, accountant, or tax advisor.
The Western National series of annuities is issued and underwritten in New York by The United States Life Insurance Company in the City of New York and in all other states by Western National Life Insurance Company.