Planning for a secure retirement involves not only accumulating assets but also knowing when and how to convert those assets into regular income. A retirement income annuity program, or Immediate Annuity, gives you the flexibility to receive a stream of income in the amount and for the length of time you choose.

Available with either a fixed or variable annuity, Immediate Annuities are a great way to invest a lump sum from a retirement or severance package, and have the income paid out a little at a time—monthly, quarterly, semiannual, or annual—while the bulk of your assets remain invested tax-deferred.

Annuity Payout Options:

• Lump-sum—the entire annuity contract value is paid to you at one time.
• Systematic Withdrawals—you can start and stop withdrawals at any time, vary the amount, or receive a steady stream of income at regular intervals until all assets are paid out .
• Annuitization—Annuity is converted into a guaranteed income stream for life or a specified period of time.

• Variety of income options, including lifetime, joint, and survivor (payments continue to a named beneficiary), or period certain (a period of time specified by you).
• Choice of contract types: Fixed Immediate Annuities provide dependable and guaranteed payments* regardless of market conditions, while Variable Immediate Annuities provide a fluctuating income stream that reflects the performance of the equity markets in which they are invested.
• No management or set-up fees (Fixed only).
• Income payments can be deferred for a year, or begin as soon as 30 days after you buy the policy.
• Payments of principal are received income tax free. Only the interest is taxable (provided the initial funding came from nonqualified assets).
• Ability to modify payments to accommodate inflation through a cost of living adjustment. (May not be available in all products.)
• Regular income can be used to pay utilities and other bills directly.