Annuity Payments

You have carefully paid your annuity premiums and have waited a long time for the values to build. You are planning to retire and receive a steady income from your annuity.

Now it is time to “annuitize” your annuity. This means you decide to begin receiving a periodic payment, also called a distribution, from your tax-deferred annuity. Your annuity payments are guaranteed.

Annuitization. You can choose to receive a annuity income monthly, quarterly, semiannually, or annually for the rest of your life. Alternatively, a fixed period may be designated, such as 10 or 20 years, to annuitize payments or distributions to you. A joint annuity payment can be selected for you and your spouse. You choose the distribution option that's best for you. Your Beneficial Financial Group financial professional can help explain the options and choices available to you.

You need to be aware of the following IRS rule before taking distributions from your annuity:

The IRS will assess a 10 percent tax penalty if you withdraw gains from your tax-deferred annuity before age 59½ (limited exceptions apply). Any income you receive from your tax-deferred annuity that represents gain will be taxed as ordinary income.

To find out more or get a price quote, click here to find a Beneficial agent near you.

All products not available in all states.

Beneficial Financial Group's Advantage series tax-deferred annuities and single-premium immediate annuities are not available in all states. We recommend that you thoroughly read the annuity contract for actual governing contractual provisions and certain exclusions, limitations, reductions of benefits, and terms for keeping the annuity in-force. Beneficial Financial Group recommends that you consult your financial professional or attorney on specific points of interest to you.

Advantage Annuities: form 9-601-03.

Beneficial Investment Services, Inc., (BIS) is a wholly owned subsidiary of Beneficial Financial Group. Securities and investment advisory services offered solely by Beneficial Investment Services, Inc., member FINRA/SIPC, 150 Social Hall Avenue, P.O. Box 45654, Salt Lake City, Utah 84145-0654 (800) 278-1103.

Fixed life insurance products are offered by Beneficial Life Insurance Company.