At The
Florida Annuity Store, we guarantee...."Every
morning when you wake up, you're worth more than you were the night
before."
THE
FLORIDA ANNUITY STORE PROTECTED ACCUMULATION PLAN
Designed
to help you save and accumulate money for a financially secure and rewarding
retirement!
CONTRIBUTION
- One hundred percent (100%) of your contribution will be credited to
your account. There are no yearly maintenance fees.
ACCUMULATIONS
- The Florida Annuity Store Protected Accumulation
Plan provides maximum safety competitive with today's accumulation rates.
The current accumulation rate is:
| NON-TAX
QUALIFIED: 4.05% |
TAX QUALIFIED:
5.05% |
This combines
a current base rate of:
| NON-TAX
QUALIFIED: 3.50% |
TAX QUALIFIED:
3.50% |
PLUS A MEMBERSHIP
BONUS OF:
| NON-TAX
QUALIFIED: 0.55% |
TAX QUALIFIED:
155% |
TAXES
- Under current tax law, the accumulations credited to your Florida
Annuity Store Protected Accumulation Plan are free of current
income taxes.
LIQUIDITY
- You may withdraw up to 10% of the accumulation value
once each certificate year without a surrender charge, subject to federal
taxes and possible penalty. Certificate Loan Provision is available
for 403(b)TSA Participants. Consult your tax professional, Tom Seamon.
RETIREMENT
OPTIONS - The Florida Annuity Store Protected
Accumulation Plan provides for retirement income through your choice
of one of the following generous income options:
- Interest
Income.
- Income
for a Fixed Period.
- Life
Income.
- Income
of a Fixed Amount.
- Joint
and Survivor Life Income.
- Gleaner
Check-A-Month Plan.
- Joint
and Single Life Expectancy (minimum distribution).
- Cash.
DEATH AND
PROBATE - Upon death, the full, then-current value of your
Florida Annuity Store Protected Accumulation Plan will
be paid to your beneficiary(ies) – avoiding the costs,
delays and publicity of probate.
During retirement,
the amount of your death benefit will depend upon the settlement option
chosen.
SURRENDER
CHARGE - If you surrender your Florida Annuity Store
Protected Accumulation Plan, your original deposit only
will be subject to the following surrender charges:
End
of
Certificate Year
1
2
3
4
5
6
7 and thereafter
|
Surrender
Charge
on
Original Contribution
6%
5%
4%
3%
2%
1%
0% |
The surrender charges
will not apply if the proceeds of the certificate are paid by reason
of death of the annuitant or settled in accordance with Options 3 and
5 of the Optional Settlement Provisions.
SAFETY
- The funds of your Florida Annuity Store Protected
Accumulation Plan are protected by the total resources of the 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 states that the Gleaner solvency ratio is higher than the average
of the 25 largest companies.
Your money
is safe with Gleaner.
Why should
you consider
The
Florida Annuity Store Protected Accumulation Plan?
IT
PROVIDES THESE ADVANTAGES:
- Taxes
are deferred during accumulation period.
- At retirement
- or when you cash it in or withdraw under an Income Option - favorable
tax treatment.
- Wide
selection of flexible options to fit your financial needs at retirement.
IRS annuity exclusion ratio could reduce your tax bill.
- Maximum
safety of your funds at all times. The Society purchases only "A"
rated or better bonds.
- One
hundred percent (100%) of your deposit goes into your accumulation
fund.
...No Sales Charges.
...No Service Charges.
...No Yearly Maintenance Fees.
"The
More You Save –
The More You Earn."
