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.
Product Features:
-
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 | 2.35% | ||
$50,000 - $99,999 | 2.90% | ||
$100,000 - $249,999 | 2.95% | ||
$250,000 + | 3.05% |
Interest rates as of June 1, 2022.
Form #ICC18-SPDA9 with state-specific variations.