If you have a lump sum of money to invest right now, such as funds from an inheritance or a pension plan distribution, the Single Premium Deferred Annuity may be an excellent choice for you. You can establish one with a single contribution of $25,000 or more. Intended for conservative investors who seek steady growth, the Single Premium Deferred 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 Single Premium Deferred Annuity 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.  

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

Competitive interest rates
The Single Premium Deferred Annuity offers competitive interest rates that are guaranteed never to fall below 3 percent.  Account values that exceed $100,000 may earn an additional quarter percent of interest above the base rate. Interest rates are not guaranteed and are subject to change.  

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

Withdrawal options
A Single Premium Deferred 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
You can move an existing annuity to Modern Woodmen of America without triggering additional income taxes.