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Independent Insurance Agents
Serving Virginia and Maryland

Life  

IN THIS SECTION

  Term
  Permanent
  Key Man
  Group
  Annuities

Annuities

With so many retirement savings options, it may be challenging to decide which plan is right for you. Erie Family Life’s annuities can help boost your retirement savings today and secure your financial freedom later.

Why Annuities?  Fixed rate annuities are a good investment if you:

  • Need another source of retirement income
  • Want tax-deferred growth on your investment
  • Want an investment with guaranteed interest rates
  • Want to receive guaranteed income for a fixed period or income for life

An annuity is the only financial instrument that offers a guaranteed income stream that you cannot outlive. With fixed-rate annuities, you can save for retirement and avoid the risk of losing wealth due to volatility in the stock market.

Why Should You Consider an Annuity?

  • Annuities offer you:
  • Business retirement plans such as Simple IRAs or Simplified Employee Pension (SEP) IRAs
  • Personal retirement plans such as Roth and Traditional IRAs
  • Interest-only options
  • 10 percent free withdrawal each year
  • Immediate investment earnings without a policy fee or sales charge
  • Options to roll over qualified funds from an employer’s retirement plan, such as a 401(k), when changing jobs

Portfolio Plans

Annuity portfolio includes these plans:

  • Flexible Premium Deferred Annuity (FPDA) – Savings from an FPDA can be used as a source of retirement income or to supplement the amount you’re putting into an employer-sponsored plan. You can make scheduled or intermittent payments into a retirement savings plan, such as a Traditional or Roth IRA, and the income will be available when you need it. You can start with as little as a $300 investment.
  • Single Premium Deferred Annuity (SPDA) – If you have $10,000 or more to invest; a Single Premium Deferred Annuity is an excellent choice. You may choose a guaranteed period of 3, 5 or 7 years. Depending on the amount of your deposit, first year bonus rates are available.
  • Single Premium Immediate Annuity (SPIA) – The SPIA is a good choice for someone who desires an immediate source of income. You chose the payment stream that’s right for you — whether it’s payments for a set number of years or the rest of your life.

 





 




LIFE INSURANCE
Term Life Insurance
Permanent Life Insurance
Key Man Life Insurance
Group LIfe Insurance
Annuities

HEALTH & DISABILITY INSURANCE
Group/Employee Health Benefit Plans
Individual Health Insurance