The Advantage 50 annuity is a single payment deferred annuity. It is purchased with a single lump-sum premium payment and payouts do not begin until a designated time in the future. Because you are deferring annuity payouts to a later date, you are also deferring tax payment on any interest your annuity earns. Interest will not be taxed until the time it is withdrawn.
This annuity may be the perfect place for funds from a large inheritance or the proceeds from selling a home. It would also be ideal for anyone who has a large sum of cash that they don’t have an immediate need for, but will in retirement.
- Single payment deferred annuity
- Five-year interest rate guarantee
- Policy withdrawals on interest earned can be made without penalty; additional withdrawals during the first five policy years will be assessed the appropriate surrender charge
*Withdrawals are subject to income tax, and most withdrawals made prior to age 59 1/2 are subject to a 10 percent IRS penalty. Guarantees are backed by the financial strength and claims-paying ability of National Mutual Benefit.