Withdrawals: Easy Access to Your Money
in Time of Need

An annuity is designed for the long-term growth of your nest egg; however in an emergency, you can have convenient access to your money.

You can choose to withdraw your tax-deferred annuity proceeds at any time for any amount you wish (penalties may apply). However, by waiting until you are 59½ years old or older to withdraw money, you realize the greatest benefits from compounding interest and deferring taxes. Some of our annuities have withdrawal options that avoid Beneficial fees or charges.

Free partial withdrawals. Some of our Advantage deferred annuity plans permit you to withdraw up to 20 percent of your balance (interest first) once a year after the first year without being charged an internal penalty (IRS penalties may still apply).

Systematic withdrawals. You can select a systematic program to receive your tax-deferred annuity payments, rather than choosing an annuity payment option. Systematic withdrawals allow you to receive payments automatically on a regular basis. You will pay income taxes only as the funds are paid to you.

Lump-sum withdrawals. You can cancel or “surrender” your tax-deferred annuity at any time and receive a lump-sum payment. A “surrender” fee and IRS penalties may be assessed upon cancellation. The withdrawal charge amount depends on the type of tax-deferred annuity and length of time of issue.

Beneficial Financial Group will help you keep track of all contributions, withdrawals, and distributions in a quarterly statement that will be mailed to you. We will also send you an IRS 1099 Form at the end of January each year for reporting withdrawals and distributions on your personal income tax statement.

A note about fees. All of your premium goes to your annuity's growth. Beneficial Financial Group does not assess sales charges nor do we deduct premium taxes at issuance. We do assess an annual administrative fee of $24. This fee is waived for account values of $5,000 or more or if total premiums paid during the policy year are $600 or more.

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 tax professional or attorney on specific points of interest to you.

Advantage Annuities: form 9-601-03.