If you need the place to put funds from a large inheritance, proceeds from selling your home, or a large sum of cash that you’d like to save for retirement, our Single Premium Deferred Annuity may be the right plan for you.
The Single Premium Deferred Annuity is purchased with a single lump-sum premium, 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 payments on any interest your annuity earns. Interest will not be taxed until the time it is withdrawn.
*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 BetterLife.
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