The Modern Woodmen Single Premium Immediate Annuity is ideal for conservative investors who want a guaranteed income for life and for those who wish to ensure that a loved one will have a guaranteed income for life, even after they are gone. Immediately following a onetime contribution of $10,000 or more, it provides lifetime income for you or for you and a loved one.

Advantages  

Choose the income option that is best for you
Several payment options are available with a Single Premium Immediate Annuity, including payment options covering the lifetime of a single person or the lives of two people.  You can also choose to receive your guaranteed payments monthly, quarterly, semiannually or annually.  

Guaranteed lifetime income for one person
With this product, you’ll immediately begin to receive regular income payments, and you’ll continue to receive these payments throughout the rest of your life.

    Single Life Income Options
    Single Life with No Period Certain
    Single Life with 10-Year Certain
    Single Life with Installment Refund
    Single Life with Cash Refund

Guaranteed lifetime income for two people
You can purchase this product for yourself and a loved one, which means that it will provide guaranteed lifetime income for both of you. 

    Joint Life Income Options
    Joint and Full to the Survivor with No Period Certain
    Joint and Full to the Survivor with 10-Year Certain
    Joint and 2/3 to the Survivor with No Period Certain
    Joint and 2/3 to the Survivor with 10-year Certain

Competitive interest rates
The Single Premium Immediate Annuity offers a guaranteed income payment based on an interest rate that is guaranteed never to fall below 3.5 percent.  The Single Premium Immediate Annuity may generate an income payment that exceeds the guaranteed income payment if current interest rates and market conditions allow for it.  

Tax advantages
For non-qualified Single Premium Immediate Annuities, each payment consists of two parts: a return of your principal contribution and any earnings generated by the principal.  The portion of the payment related to the principal contribution is not taxable, while the portion of the payments related to the earnings is taxed as ordinary income.  (The entire payment will be taxed as ordinary income if a Single Premium Immediate Annuity is funded with qualified pre-tax or tax-deductible contributions.)