At The
Florida Annuity Store, we guarantee...."Every
morning when you wake up, you're worth more than you were the night
before."
THE
ANNUITY STORE "CONTENDER" ANNUITY
A
Five-Year, Tax-Deferred Single Premium Annuity with A Fixed Rate of
Accumulation
CONTRIBUTION
- The Florida Annuity Store Contender Annuity's minimum
singe premium deposit is $5,000. One hundred percent (100%)
of your contribution will be credited to your certificate.
ACCUMULATION
- The Florida Annuity Store Contender Annuity provides
maximum safety and excellent accumulation rates. The Contender provides
a current first-year fixed accumulation rate of 4.40%,
which combines a current base rate of 3.50%, plus a
first-year Membership Bonus of 0.90%. The base rate
of accumulation will not be adjusted during the initial five-year period.
TAXES
- Under current tax law, the accumulation credited to your Florida
Annuity Store Contender Annuity is even more attractive, because
it accumulates free of current income taxes.
LIQUIDITY
- With a Florida Annuity Store Contender
Annuity, you have access to your funds. You may withdraw up to 10% of
the accumulated value once each certificate year without a surrender
charge. Withdrawals are subject to federal taxes and possible penalty.
Consult your tax professional, Tom Seamon.
OPTIONS
- Generous income options to fit your circumstances include:
- Interest
Income.
- Income
for a Fixed Period.
- Life
Income.
- Income
of a Fixed Amount.
- Joint
and Survivor Life Income.
- Joint
and Single Life Expectancy (IRA minimum distribution).
- Cash.
DEATH AND
PROBATE - Upon death, the full, then-current value of your
Florida Annuity Store Contender Annuity will be paid
to your beneficiary(ies), avoiding the costs, delays and publicity
of probate. After retirement, the death benefit will depend
upon the form of retirement annuity you choose.
SURRENDER
CHARGE - One of the most attractive features of the Florida
Annuity Store Contender Annuity is its short, five-year surrender
charge period. If you surrender your certificate, your accumulated
value will be subject to the following surrender charge sequence (first
- fifth year): 8%, 7%, 6%, 5%, 4%, and 0% thereafter. There
is no surrender charge when your certificate is settled by reason of
death or a settlement is made no less than three (3) years after the
certificate's effective date using either Option 3 (Life Income) or
Options 5 (Joint and Survivor Life Income).
RENEWAL:
At the end of the five-year period, your Florida Annuity Store
Annuity Contender certificate may be renewed.
INTERNAL
EXCHANGES - If you currently own a gleaner tax-deferred annuity,
you may be eligible to internally exchange your funds to a Florida
Annuity Store Contender Annuity.
SAFETY
- Your funds are protected by the total resources of Gleaner Life Insurance
Society. The Society purchases only "A" rated or better bonds
and highly secured real estate mortgages. Gleaner does not purchase
"Junk" bonds, commercial real estate or stocks.
Standard Analytical
Service, analysts of the insurance industry since 1932, reports that
the Gleaner solvency ratio is higher than the average of the 25 largest
companies. Your money is safe with Gleaner.
The Advantages of The Florida Annuity Store Contender Annuity
