AAA Life Insurance Company has designed fixed annuities to help you build savings for your retirement and turn what you’ve saved into income that can last for the rest of your life.
RETIREMENT IS ON YOUR MIND
Like many Americans, you’re probably thinking about retirement.
And you likely have concerns about saving enough to retire and making sure what you save lasts as long as you’ll need it.
You know there is no shortage of financial vehicles to help with retirement savings and income.
But you want stability in your retirement portfolio, with solutions that are simple to understand.
Fixed annuities can help provide stability to a retirement portfolio, whether you’re still saving or you’re ready to take an income.
Saving for retirement.
In the years leading up to retirement, you work hard to save for the future.
This is a good time to start a deferred annuity, which allows the money you put in to grow tax-deferred.
A deferred annuity is also appropriate if you’re already retired and looking for guarantees to help continue to grow your assets.
With a deferred annuity, your premiums earn interest, your interest earns interest, and the money you would have paid in taxes is deferred to the future.
In general, no tax is due until you take money out.
SAVE WITH A DEFERRED ANNUITY
What is a deferred annuity? Deferred annuities are specially designed for retirement saving. While both of AAA Life’s deferred annuities offer guarantees, you can choose which one is right for you based on your goals and objectives for saving.
GET TO KNOW AAA LIFE’S DEFERRED ANNUITIES
EliteGuarantee 3-year Annuity
- Start the annuity with as little as $3,000
- Earn a competitive fixed interest rate that’s guaranteed for three years
- Have access to your funds with the ability to make a withdrawal of up to 10% of the accumulated value once per contract year
- At the end of the three-year period, you can renew your annuity based on current interest rates declared by AAA Life.
Platinum Bonus 5-year Annuity
- Start the annuity with as little as $3,000
- Earn a competitive fixed interest rate over the longer term, typically five years or more
- Have access to your funds with the ability to make a withdrawal of up to 10% of the accumulated value once per contract year
- Interest rate is guaranteed for the first 12 months, with additional first-year bonus interest.
- Add new premiums at any time.
EliteGuarantee 3 Annuity
Grow your earnings, tax-deferred with a guaranteed interest rate for three years.
Compare annuity rates here.
What type of annuity is this?
This product is a deferred annuity. It can be ideal for individuals who are looking for guarantees to help continue to grow their assets tax-deferred.
How does this annuity work?
With the EliteGuarantee annuity, make a single premium payment and lock-in a competitive interest rate for three years.
How long is my interest rate guaranteed?
The EliteGuarantee annuity provides you with a 3-year guaranteed interest rate.
What happens after the initial guarantee period?
Once the initial rate guarantee period expires, your annuity will automatically renew based on current interest rates declared by AAA Life. You may also annuitize your contract or move your funds to another AAA Life product.
Can I withdraw funds if needed?
Yes. You may access your funds with the ability to take a withdrawal of up to 10% of the accumulated value once per contract year.
I’m younger than 59 1 /2, can I still open this annuity?
Yes. There may be tax consequences for annuity withdrawals prior to age 59 1/2.
What is the minimum initial premium required?
You can open your EliteGuarantee annuity with a minimum of $3,000.
Does this annuity come with a death benefit?
In the event of your death, we will pay the accumulated value, less any premium taxes, to the beneficiary you name.
AAA Life Insurance is also an inexpensive way to leave a death benefit to beneficiaries.
What is the interest rate on this annuity?
Please inquire about the current interest rate. After the first year, the EliteGuarantee pays no less than the minimum interest rate of 1.00%.
Can additional funds be added to this annuity?
A separate annuity contract will need to be opened if you wish to add additional funds in the first three years.
Do I need a AAA membership to open this annuity?
No, you do not need to be a AAA member to open this annuity.
Platinum Bonus Annuity
With flexible premiums, you decide when to grow your nest egg and by how much.
What type of annuity is this?
This product is a deferred annuity. A deferred annuity may be ideal for individuals who are looking for guarantees and a first-year bonus to help continue to grow their assets tax-deferred.
How does this annuity work?
Earn a competitive fixed interest rate over a longer time period, typically five years or more.
How long is my interest rate guaranteed?
Our competitive fixed-interest rate is guaranteed for the first 12 months, with additional first-year bonus interest.
What are the distinct benefits of this annuity?
The flexibility of premium payments is a defining feature of the Platinum Bonus annuity. You decide when to add to your annuity without having a fixed schedule to do so.
Can I withdraw funds if needed?
Yes. You may access your funds with the ability to take a withdrawal of up to 10% of the accumulated value once per contract year.
I’m younger than 59 1 /2, can I still purchase this annuity?
Yes. There may be tax consequences for annuity withdrawals prior to age 59 1/2.
What is the minimum initial premium required?
You can open your Platinum Bonus annuity with a minimum of $3,000.
Does this annuity come with a death benefit?
In the event of your death, we will pay the accumulated value, less any premium taxes, to the beneficiary you name.
What is the interest rate on this annuity?
Please inquire about the current interest rate. After the first year, the Platinum Bonus annuity pays no less than the minimum interest rate of 1.00%.
Is there a first-year bonus on this annuity?
Yes, you’ll earn a competitive interest rate PLUS a bonus in the first year that’s guaranteed for the first 12 contract months.
Do I need a AAA membership to open this annuity?
No, you do not need to be a AAA member to open this annuity.
Retirement Income Planning
If you’re spending the interest from a CD or a fixed annuity to supplement your retirement income, consider a deferred annuity with a lifetime income rider. These annuities would offer a guaranteed income for life (even if the annuity ran out of money), removing the concern of making your money last in retirement and running out of money.
Some lifetime income riders offer a retirement income that increases to keep up with inflation, help pay for long-term care expenses, and offer an enhanced death benefit to help your beneficiaries.
