Gleaner Life annuities help clients build financial solutions that help set them up for a secure future. A fixed deferred annuity takes an individual’s financial contributions, grows them at a competitive interest with a guaranteed minimum and provides a steady stream of income later in life. Fixed annuities are an important part of any financial portfolio. Through The Gleaner Life Foundation Series®, you can have financial confidence knowing your investment will only increase with time, unlike other financial products like stocks and securities, which fluctuate according to stock market trends.

Opening and managing a fixed annuity is simple. Annuity owners can gradually add contributions over time with flexible-premium annuities or make a one-time, lump sum premium payment with single-premium annuities. Gleaner then grows these funds at a competitive interest rate with a guaranteed minimum. Gleaner annuities are also tax-deferred, which means you postpone paying taxes on interest earnings until a withdrawal is taken.

Every Gleaner annuity includes the following waivers: Nursing Home Waiver, Hospital Waiver, College-Bound Waiver. 

Later in life (usually after retirement), the annuity owner can choose to “annuitize,” that is, turn their account value into a regular stream of monthly, quarterly, semi-annual or annual payments. Two common options include:

1. Fixed period: This option guarantees payments for a specific span of time, for instance, 20 years. Even if the annuitant passes, payments will continue to their beneficiary for the remainder of the selected timespan.
2. Payments for a lifetime: This guarantees payments for the remainder of the annuitant’s life and, in some cases, their spouse’s life. Once the annuitant and the spouse (if applicable) passes, payments cease. Some payment options include a period certain.

For more options, view Gleaner's complete list of settlement options.