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 TAX DEFERRAL PLAN
A
Flexible Premium No Load Annuity
CONTRIBUTION
- You may deposit into your plan at any time. That is why it is so flexible.
It is designed to meet the needs of most savers. There are no yearly
maintenance fees.
ACCUMULATION
- The Florida Annuity Store Tax Deferral 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:
1.55% |
TAXES
- Under current tax law, the accumulations credited to your Annuity
Store Tax Deferral 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 Tax Deferral
Plan provides for retirement income through your choice of one of the
following generous settlement options:
- Interest
Income.
- Income
for a Fixed Period.
- Life
Income.
- Income
of a Fixed Amount.
- Joint
and Survivor Life Income.
- Gleaner
Check-A-Month.
- Joint
and Single Life Expectancy (minimum distribution).
- Cash.
DEATH AND
PROBATE - Upon death, the full, then-current value of your
Florida Annuity Store Tax Deferral 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
Tax Deferral Plan, the Accumulated Value is subject to the following
surrender charges:
10% in the first
certificate year and decreasing 1% a year through the next 9 certificate
years to zero. However, 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. These options provide life
income to the annuitant and/or spouse instead of a lump sum cash settlement.
SAFETY - The funds
of your Florida Annuity Store Tax Deferral Plan are
protected by the total resources of the Gleaner Life Insurance Society.
The Society has been assigned a rating of "A (Excellent)"
by the industry analysts since 1899. 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 Tax Deferral Plan?
IT PROVIDES
THESE ADVANTAGES:
- Taxes
are deferred during the 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 and highly secured real estate mortgages. Gleaner
does not purchase "Junk" bonds, commercial real estate or
stocks.
- 100%
of your deposit goes into your accumulation fund.
...No Sales Charges.
...No Service Charges.
...No Yearly Maintenance Fees.
- Best
of all – No fixed Premiums. You can deposit at any time, and
your money begins accumulating immediately.
"The
More You Save –
The More You Earn."
