A tax-deferred annuity is a contract between you and an insurance company for a guaranteed, interest-bearing account with guaranteed annuity income options.
Fixed Annuities offer you a safe way to grow your retirement funds on a tax-deferred basis. Unlike investments which are subject to market changes, fixed annuities protect your principal and guarantee a competitive interest rate each year.
6.125% APR*on
The Board of Directors of Professional Life & Casualty Company meets periodically to declare an interest rate for all funds on deposit with us for the calendar year. The current 2008 interest rate is 5% for all funds on deposit, and new deposits received by the company. (This rate is subject to change.) If there are no withdrawals from the policy during 2008, an additional 1.125% bonus interest is paid. There are never any surrender charges or fees deducted from your account. You can make additional deposits at any time during the year. The deposits earn interest at the current declared rate at the time of deposit. That interest rate is guaranteed until the end of the calendar year. All funds earn interest and work to help you meet your retirement goals.
Your annuity earns a highly competitive return. There are no administrative fees or withdrawal charges. Both contributions and withdrawal privileges are flexible. (Although you may make withdrawals from your account at any time with no surrender charges imposed by PLC, early withdrawal from an annuity may result in tax penalties. You should consult your tax advisor.
Avoid probate costs and delays in most cases. The entire annuity value passes on to the designated beneficiary.
