Look beyond uncertainty as you prepare for retirement
The historic volatility combined with the limited availability of traditional retirement income sources, such as defined benefit pension plans, has placed a greater responsibility on Americans saving for their future. With this greater responsibility comes a need for financial solutions that can help provide a new level of protection for retirement savings.
Whether your long-term objective is to build a source of guaranteed lifetime income, save for a specific retirement goal, or leave a legacy for your loved ones, Clear Diamond Life can help by offering annuities with benefits designed to meet your retirement needs.
A fixed index annuity (FIA) offers a unique combination of benefits that can help you achieve your long-term goals. No other product offers the tax deferral, indexed interest potential, and optional benefits to protect your retirement assets and income.
Under current federal income tax law, any interest earned in your fixed index annuity contract is tax-deferred. You don’t have to pay ordinary income taxes on any taxable portion until you begin receiving money from your contract. Withdrawals are taxed as ordinary income and, if taken prior to age 59 1/2, a 10% federal additional tax may apply.
Indexed interest potential
Fixed index annuities provide an opportunity for potential interest growth based on changes in one or more indexes. Because of this potential indexed interest, FIAs provide a unique opportunity for accumulation. And since the interest your contract earns is tax-deferred, it may accumulate assets faster. In addition to potential indexed interest, FIAs can offer you an option to receive fixed interest.
Fixed index annuities offer you a level of protection you may find reassuring. That protection can benefit you in three separate ways:
(1) Accumulation: Your principal and credited interest are protected against market downturns.
(2) Guaranteed income: You can be protected from the possibility of outliving your assets.
(3) Death benefit: If you pass away before annuity payments begin, a fixed index annuity may help you provide for your loved ones.