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Modern Woodmen Bank

Single Premium Immediate Annuity
Retirees face many risks today, including increasing health care costs, the impact of inflation on their purchasing power and market volatility.  Due to the future uncertainty of Social Security and the decreasing number of traditional pension plans, the largest risk faced by retirees today is the risk they will outlive their retirement savings.

Did you know a 65-year-old person has a 50-50 chance of living at least 20 or more years? 

Source: Annuity 2000 Mortality Table, Society of Actuaries

If you want to ensure your retirement income will last as long as you do, consider a Single Premium Immediate Annuity for a portion of your retirement savings.
A Single Premium Immediate Annuity can help protect against risks by:
  • Creating a solid foundation of guaranteed retirement income
  • Eliminating the impact of market volatility on the retirement income received from the annuity
  • Making sure your money will be there for you on a consistent basis for the rest of your life

Enjoy these benefits:

1. Guaranteed lifetime income – You can turn a lump-sum amount into a stream of guaranteed income payments. These payments can last your lifetime or for the combined lifetimes of you and your spouse.

2. Potential dividends – You may receive a dividend in addition to the guaranteed payment amount. This dividend is added to your guaranteed payment amount and increases your scheduled income payment.  While the guaranteed payment amount never changes, your dividend might increase or decrease.
3. No upfront sales charges or annual maintenance fees – 100 percent of your contribution is used to produce your guaranteed lifetime income payment.
4. Options to protect your principal contribution – You can select an income option that guarantees a return of all – or a portion of – your principal contribution to your beneficiary. This option eliminates concerns about dying before you receive payments equal to the amount you contributed to the annuity.
5. Trust – All guarantees are based on the claims-paying ability of Modern Woodmen, which was founded in 1883. A.M. Best, an independent rating agency, rates Modern Woodmen’s financial stability, security and management performance Superior or A+, which is the second highest of 15 ratings.
A Single Premium Immediate Annuity can help you achieve your retirement distribution goals.  Your Modern Woodmen representative can show you can use a portion of your savings to create a stream of guaranteed lifetime retirement income.