While pension plans offered through your employer may seem like a thing of the past, you can create your own retirement income stream with a AAA Guaranteed Income Annuity.
Pay one single premium amount and receive regular income payments — for you and your spouse, if you choose.
Customize how often you are paid, how long the payments will last, and much more. You decide the amount and time period during which to receive income.
Find the best pension annuity rates, and estimate your retirement income.
OPTIONS TO ALLEVIATE YOUR CONCERNS
While many worry about outliving their retirement savings, AAA Life’s AAA Guaranteed Income Annuity provides options for you and your spouse to receive income payments for a lifetime.
There is also an optional feature that will return the remainder of the initial premium to a beneficiary in the event of premature death.
PAYOUT OPTIONS
Single Lifetime Guarantee, with the option to add Return of Premium
It pays an income you can never outlive. The Return of Premium option ensures that any remaining initial premium is paid out to your beneficiary after you are no longer living.
Joint Lifetime Guarantee, with the option to add Return of Premium
It pays an income you and your spouse can never outlive. The Return of Premium option ensures that any remaining initial premium is paid out after you and your spouse are no longer living.
Time Period Guarantee
Makes guaranteed payments for a specific period of time — 10 or 20 years. Payments continue to your beneficiary for the remainder of the guaranteed time period if you are no longer living.
Dollar Guarantee
Makes guaranteed payments of a specific amount. Continues to make payments to your beneficiary should you die before all payments are made.
AAA Life Insurance is also an inexpensive way to leave a death benefit to beneficiaries.
ADDITIONAL FEATURES
- Income Access — Access to income in the event of an emergency that causes you to incur unplanned expenses
- Inflation Offset — Option to offset inflation by increasing your payout amount by a certain percentage for a set number of years
- Income Increase — Option to select a time in the future when you would like to increase the income you are receiving
- Payment Frequency — Choose the frequency for receiving your payments — annually, semi-annually, quarterly, monthly, or bi-weekly
AAA Guaranteed Income Annuity
Turn your savings into a steady stream of income that can last for the rest of your life.
What type of annuity is this?
This product is an immediate income annuity. An income annuity can be ideal for individuals who would like to take a portion of their savings and create a guaranteed income stream for the rest of their life or as long as they choose.
How does this annuity work?
A portion of your assets from retirement savings can be turned into regular income. Provide a single premium amount and receive guaranteed regular income payments.
Do I have a say in how much income I receive and when?
You may completely customize how often you are paid and how long the payments will last.
Will I outlive this annuity?
If you select the Lifetime Guarantee option, it can pay you an income that can last a lifetime.
Can my spouse receive income if I am no longer living?
Yes. If you select the Joint Lifetime Guarantee option, it can continue to make payments to your spouse if you are no longer living.
How does this annuity respond to inflation?
The Increasing Benefit Option option can increase payments by a stated percentage for a set number of years to help keep up with inflation.
Why is this type of annuity important?
How long will your retirement savings last? This annuity can last throughout a long and enjoyable retirement.
How does the payout work?
The payout rate is the income received each year as a percentage of your initial premium.
However, it is not an interest rate.
Depending on the payment option you choose, your spouse or your beneficiary can continue to receive payouts after you die.
What is the minimum age to open this annuity?
The minimum ownership age of this annuity is 18, as this income annuity utilizes your retirement savings.
What is the minimum premium required?
The minimum premium starts at $10,000 (or the amount needed to produce at least $100 per month of income*), regardless of payment mode.
Pension-Alternative
If you’re seeking a pension-like income in the future, but want more flexibility, check out an income rider. Annuities with an income rider provide guaranteed income for life with a death benefit for beneficiaries along with much more flexibility, access, growth potential, and control.
