If you want to save for retirement but are anticipating a change in your financial situation due to having children, changing careers or taking on a larger mortgage, Modern Woodmen’s Flexible Premium Annuity may be an ideal savings vehicle for you. It allows you to make multiple contributions toward your retirement savings and adjust the amount and frequency of those contributions over time.

Intended for conservative investors, the Flexible Premium Annuity offers the comfort of a minimum guaranteed interest rate and a guaranteed return of all principal contributions.

Advantages  

Guaranteed earnings
Regardless of what happens to the economy, your plan is fully secured by the assets of Modern Woodmen. Interest rates are guaranteed never to fall below 3 percent, and you are guaranteed a full return of your premiums less any previous withdrawals or benefit charges.  

No annual fees or upfront sales charges
By avoiding annual fees and initial sales charges, your money can grow rapidly in a Modern Woodmen Flexible Premium Annuity. Unless you withdraw your money too early, you will not pay any fees for this product.  

Competitive interest rates
The Flexible Premium Annuity earns a competitive guaranteed interest rate.  Account values that exceed $25,000 may earn an additional quarter percent of interest above the base interest rate, and account values that exceed $100,000 may earn an additional half percentage point above the base interest rate. Interest rates are not guaranteed and are subject to change.  

Tax-deferred earnings
Your earnings grow tax-deferred until you make a withdrawal.  Because of the power of compounded tax-deferred growth, your retirement savings will accumulate more rapidly than they would in a fully taxable account.  

Flexible contributions
A Modern Woodmen Flexible Premium Annuity may be issued with a minimum expected annual contribution of $300, and additional contributions may be submitted monthly, quarterly, semiannually or annually.  A Flexible Premium Annuity may also be issued with a single premium of $1,000 or more after which additional payments of $100 or more can be added to the annuity at any time.   

Withdrawal options
A Flexible Premium Annuity gives you convenient access to funds when you need them. Each contract year, you may withdraw up to 10 percent of the account value without a surrender charge. You may also withdraw funds penalty-free under specific circumstances, including death, terminal illness or an IRS-required minimum distribution.  

Flexible distribution options are available at retirement, including an option that will provide a guaranteed lifetime income.  

The dollar amount of the income payment you begin receiving in the future will depend on the balance in your contract and the settlement option you select.  If you die before all guaranteed payments are made, any remaining guaranteed amount is paid to your beneficiaries according to the terms of the settlement option.  

Transfer existing annuities to Modern Woodmen
An existing annuity can be transferred to Modern Woodmen of America without triggering additional income taxes.