Annuities

GPM Health and Life annuities are long-term retirement vehicles. They are a financial planning tool that can be customized to provide you with a variety of payout options, including a secure and steady stream of income you cannot outlive. Because your principal is secure and earnings are tax-deferred, our annuity options can be part of a balanced financial plan for retirement.

Why annuities are important

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A secure, steady source of income that you cannot outlive

Americans are living longer than ever. For many of us, retirement will last 20 to 30 years, or more. Unfortunately, many Americans are not paying enough attention to retirement planning, and may not be fully prepared for the financial impact of long retirements.

Tomorrow's retirees are likely to have a very different retirement than previous generations. Fewer workers these days are covered by traditional defined benefit pension plans, which typically are funded entirely by their employers and provide a benefit that guarantees a steady stream of retirement income for life. Furthermore, Social Security is not likely to provide the level of income most people need. Consumers need other ways to make up for these sources of income. Annuities can help fill this gap and allow you to set money aside for retirement.

Compare options for Fixed Annuities

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Compare options for Fixed Annuities

Common Questions Annuities
What is the main difference between these types of annuities?
A single-premium deferred annuity is established with a single lump-sum payment by the owner. The annuity then grows on a tax-deferred basis.
A flexible-premium deferred annuity is funded by a series of payments by the owner. The annuity then grows on a tax-deferred basis.
At what age can distributions begin?
After age 59 1/2 without penalty.
Monthly income may not commence before age 59 1/2 or later than age 70 1/2.
What needs could this product fit?
Single-premium deferred annuities can be appropriate for people who need steady income and have a lump-sum payment.
Flexible-premium deferred annuities can be appropriate for people who need steady income but want to choose the amount and frequency of payments.
How does this annuity help with retirement planning?
Growth in an Annuity is tax deferred until withdrawn.
This option offers the same benefits as a single-premium deferred annuity, but has more flexibility on payment amount and frequency to fund the annuity.
Does this provide retirement income?
Yes, this product meets distribution requirements and was created to be one of the most secure lifetime income vehicles on the market today, with a variety of flexible guaranteed payout options.
Yes, this product meets distribution requirements and was created to be one of the most secure lifetime income vehicles on the market today, with a variety of flexible guaranteed payout options.
Get details about types of annuities:
All Products not available in all states
 
 

Common questions Annuities

What is the main difference between these types of annuities?
Single Premium
Deferred Annuity
A single-premium deferred annuity is established with a single lump-sum payment by the owner. The annuity then grows on a tax-deferred basis.
Flexible Premium
Deferred Annuity
A flexible-premium deferred annuity is funded by a series of payments by the owner. The annuity then grows on a tax-deferred basis.
At what age can distributions begin?
Flexible Premium
Deferred Annuity
After age 59 1/2 without penalty.
Single Premium
Deferred Annuity
Monthly income may not commence before age 59 1/2 or later than age 70 1/2.
What needs could this product fit?
Flexible Premium
Deferred Annuity
Single-premium deferred annuities can be appropriate for people who need steady income and have a lump-sum payment.
Single Premium
Deferred Annuity
Flexible-premium deferred annuities can be appropriate for investors who want steady income but need to choose the amount and frequency of payments.
How does this annuity help with retirement planning?
Flexible Premium
Deferred Annuity
Growth in an Annuity is tax deferred until withdrawn.
Single Premium
Deferred Annuity
This option offers the same benefits as a single-premium deferred annuity, but has more flexibility on payment amount and frequency to fund the annuity.
Does this provide retirement income?
Flexible Premium
Deferred Annuity
Yes, this product meets distribution requirements and was created to be one of the most secure lifetime income vehicles on the market today, with a variety of flexible guaranteed payout options.
Single Premium
Deferred Annuity
Yes, this product meets distribution requirements and was created to be one of the most secure lifetime income vehicles on the market today, with a variety of flexible guaranteed payout options.
Get details about types of life insurance:

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Learn more about Life Insurance

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