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:
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Minimum guaranteed interest rate: 1.50% in years 1-9; 1.00% thereafter
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Allows withdrawal up to 10% of the account value per certificate year
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Surrender charge of 9% in year one, decreasing by 1% each year until 0%
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Minimum initial premium of $10,000
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No minimum issue age; maximum issue age of 85
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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% | ||
| $250,000 + | 2.25% | ||
Interest rates as of Nov. 1, 2020.
Form #ICC15-SPDA9 with state-specific variations.
