Is your financial plan ready for a new addition? Single-premium annuities turn a one-time, lump sum premium payment into guaranteed income for life. Gleaner's Foundation SP9 can be a great financial solution for lump sums like inheritances and 401(k) rollovers. By depositing a one-time initial premium, you can watch your money grow tax-deferred with the power of compounding interest.
Minimum guaranteed interest rate: 1.50% in years 1-9; 1.00% thereafter
Allows withdrawal up to 10% of the account value per certificate year
Surrender charge of 9% in year one, decreasing by 1% each year until 0%
Minimum initial premium of $10,000
No minimum issue age; maximum issue age of 85
Retirement Options: Traditional IRA, Roth IRA, SEP IRA, TSA/403(b)
|Rate Band||Interest Rate|
|$10,000 - $49,999||2.00%|
|$50,000 - $99,999||2.00%|
|$100,000 - $249,999||2.15%|
Interest rates as of Nov. 1, 2020.
Form #ICC15-SPDA9 with state-specific variations.