When you purchase an immediate annuity, since you've made a lump sum payment, your guaranteed income checks (payments) will start right away, usually within one year of paying your premium. Immediate annuities are a great way to make sure your retirement savings last for your entire lifetime.
Reasons to Choose an Immediate Annuity
Budgeting your retirement funds to make them last over decades can be stressful if you have spent most of your life receiving regular paychecks. With an immediate annuity, you can make a single lump sum payment. WoodmenLife will then distribute a monthly payment to you. Many retirees find it easier to manage household expenses through a regular income stream, just like they did while they were working.
With an Immediate Annuity, You Can:
1
Count on a Guaranteed Income Stream
Count on receiving regular monthly checks for the rest of your life. This may help with your budget and ensure you are able to pay your monthly bills. It may also guarantee that you won’t outlive your retirement savings.
2
Earn Higher Interest
You can earn higher interest than other savings vehicles. In many cases, the monthly payments you receive from your immediate annuity may yield greater returns than other options.
Choose From Three Types of WoodmenLife Immediate Annuities
Non-life Immediate Annuity
You choose an income check (payment) period between 10 and 50 years. Payments to you may vary based on the current interest rate.
Life Income Fixed Payment Annuity
You will receive regular income checks (payments) for a fixed number of years (up to 20), and after that, for as long as you live. Your payments will remain fixed throughout your life. If you pass away before the end of the fixed period of income payments, those payments will continue to your beneficiary.
Life Income Varied Payment Annuity
You will receive regular income checks (payments) for a fixed number of years (up to 20), and after that, for as long as you live. Income Payments can vary, depending on refunds declared by WoodmenLife each year, but will not be less than the guaranteed income payment amount. If you pass away before the end of the fixed period of income payments, those payments will continue to your beneficiary.
Non-life Immediate Annuity | Life Income Fixed Payment Annuity | Life Income Varied Payment Annuity | |
Income Stream Payments to You Begin Right Away | ✔ | ✔ | ✔ |
Offers Income Throughout Your Lifetime | ✔ | ✔ | |
Guaranteed Interest Rate | ✔ | ✔ | ✔ |
Some Income Payments to You May Be Higher | ✔ | ✔ | |
Income Payments Continue to Your Beneficiary if You Pass Away | ✔ | ✔ | |
Death Benefit (Value of Account) | ✔ | ✔ | ✔ |
Conservative Risk | ✔ | ✔ | ✔ |
Need Help Rolling Over a 401(k)?
We make it easy to roll 401(k) funds from previous employers into an annuity.
401(k) not offered as a product. Products offered are IRA variable annuities, IRA fixed annuities and IRA mutual funds.
Connect with WoodmenLife
Find A Local Representative
A local WoodmenLife Representative can help you choose the best retirement products for where you are in life.
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Disclosures
All products may not be available in all states.
Guarantees are based on the claims-paying ability of the insurer.
Forms
85-XX-0212 Single Premium Immediate Annuity (Fixed Payment Period)
91-XX-0212 Single Premium Immediate Annuity (Life Income) (Payments may vary)
90-XX-0212 Single Premium Immediate Annuity (Life Income) (Fixed Payment)
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