with Future Income Plus
This Single Premium Deferred Annuity Helps You Enjoy the 95彩票网址 Life
The Future Income Plus Annuity can help you prepare financially for a long and lively retirement. Annuity products are offered by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company (Licensed in NY and WI).
A Single Premium Deferred Annuity
Even if you're already contributing the maximum amounts allowed by law to your 401(k) and IRA accounts, you could still be saving even more for retirement by adding the Future Income Plus Annuity.
- "Single premium" means you fund the annuity with a lump sum payment.
- "Deferred" means you start receiving income more than 12 months after we receive your payment.
A Single Premium Deferred Annuity is often used for:
- A rollover from a previous employer's 401(k) or other qualified plan due to job change or retirement.
- Maturing Certificates of Deposit.
- Accumulated funds from other investments.
- An inheritance or lump-sum payout.
Did you know?
Many customers who are interested in Estate Liquidity or Legacy Planning, and have purchased a State Farm® Survivorship Universal Life Policy, or a Single Premium Whole Life Policy have also expressed interest in a single premium deferred annuity.
Why Buy State Farm Future Income Plus?
- Our Single Premium Deferred Annuity is backed by the financial strength of State Farm Life Insurance Company (Not licensed in MA, NY or WI), or State Farm Life and Accident Assurance Company (Licensed in NY and WI).
- You can allow your accumulation value to keep growing and choose when you begin receiving payments. You can wait until you are age 95 (age 90 in NY) or 10 years from your issue age, whichever is later.
- There are no up-front sales charges or policy fees deducted from your single premium deferred annuity. Your entire premium earns interest.
- Interest earned on a single premium deferred annuity is generally income tax-deferred.
- In addition to taking the accumulation value as a lump sum, you will have several income options, including guaranteed monthly income for your lifetime.
- Withdrawal Flexibility - If withdrawals on a policy year basis are 10% or less of your single premium in the 1st year or 10% or less of the accumulation value at the end of the prior policy year, there are no surrender charges.*
*Distributions that exceed the 10% amount may be subject to surrender charges and a market value adjustment. Most withdrawals are subject to income tax and a 10% tax penalty if taken before age 59½. The minimum withdrawal amount is $500. Up to four withdrawals per year are allowed. Please see your tax advisor for more information.
Interest rates vary based on premium amount and term length. Contact your State Farm agent for information regarding the availability of this product and for policy details on minimum premium requirements, coverage, costs, and restrictions.
95彩票网址You may access your accumulation value at anytime. However, surrender charges and a market value adjustment may apply. A surrender charge is a fee owed upon premature withdrawal from the annuity. A market value adjustment is an increase or decrease in the value of the annuity based on current interest rates when a premature withdrawal occurs. The minimum withdrawal amount is $500. Up to four withdrawals per policy year are allowed. Please see your tax advisor for more information.
Find an Agent
This is a general description of coverage. A complete statement of coverage is found only in the policy.
Contact your State Farm agent95彩票网址 for details on coverage, costs, and restrictions.
Neither State Farm® nor its agents provide tax or legal advice.
Please consult your tax, legal, or investment advisor regarding your specific circumstances.
Guarantees are based on the claims-paying ability of the issuing State Farm life Insurance company.
95彩票网址Withdrawals made prior to age 59½ are subject to a 10% federal income tax penalty.
In a tax-qualified retirement plan, federal-income-tax deferral is provided by the tax-qualified retirement plan. No additional tax deferral is provided by an annuity. You should contact your attorney or tax advisor for more complete information.
95彩票网址Insurance policies and/or associated riders and features may not be available in all states, and policy terms and conditions may vary by state.
Not FDIC Insured
- No Bank Guarantee
- May Lose Value
State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Each insurer is financially responsible for its own products.