IncomeSource® Single Premium Immediate Annuity
IncomeSource single premium immediate annuity helps address the challenges of retirement well-being by securing a stream of guaranteed lifetime income immediately so you receive payouts you can count on.
Retirement Income Flexibility
IncomeSource provides immediate payouts in a variety of frequencies and options to meet different needs today. It can even provide income you cannot outlive.1
IncomeSource offers access to your money in case you need it in an emergency. Limitations apply.
1Payouts end at the annuitant’s death unless a certain period or installment refund option is selected. If a payout for life or for two lives is selected, whether the payouts received are less than or greater than the premium paid will depend on how long the annuitant(s) lives. If death occurs after any guaranteed income payouts have been made, no additional payments will be made to the beneficiary.
An income annuity is permanent. An owner has no access to the premium, which converts to income payouts. A contract has no cash value, no death benefit and can’t be surrendered. Terms such as the payout amounts, timing and rates cannot be changed, unless commutation elected. Payouts end at annuitant death unless certain period or installment refund option elected. Life contingent payout may be less or more than premium based on length of annuitant(s) life. Life and Temporary Life payouts provide no benefit on or after the death of the annuitant(s). The commutation rider is not available in all states. IPO payments are initially lower than a payout option without IPO. IPO payments increase annually and at some point, depending on payout elected and annuitant’s longevity, exceed those received under an option without IPO. If annuitant dies prior to life expectancy, a payee may receive less total income with an IPO than without one.
Single Premium Immediate Annuity contract series ICC16 ENT-01 1701, ENT-01 1701 NY, Deceased Commutation Rider series ICC09 ER.02 0901 and Living Commutation Rider series ICC09 ER.01 0901.
Payment of benefits under an annuity contract is the obligation of and is guaranteed by, the insurance company issuing the annuity. Guarantees are based on the claims-paying ability of the insurer. All are members of Western & Southern Financial Group. W&S Financial Group Distributors, Inc. (doing business as W&S Financial Insurance Services in CA) is an affiliated life insurance agency of the issuer. Issuer has sole financial responsibility for its products. This contract has limitations. Annuity benefits offered may vary due to misstatement of sex or age. Interest rates are declared by the insurance company at annual effective rates, taking into account daily compounding of interest.
Earnings and pre-tax premium payments are subject to income tax at withdrawal. Withdrawals prior to age 59½ are generally subject to a 10% IRS penalty tax.
Western & Southern member companies and their agents do not offer tax advice. For specific tax information, consult your attorney or tax advisor.
Product and feature availability, as well as benefit provisions, vary by state. See your financial professional for availability, details, and limitations.
No bank guarantee. Not a deposit. May lose value. Not FDIC/NCUA insured. Not insured by any federal government agency.
Securities offered through Touchstone Securities, Inc., Cincinnati, OH, a registered broker-dealer and member FINRA/SIPC.
Term Talks - What is a SPIA?
Single Premium Immediate Annuity or SPIA.
The name may seem long and complicated but the concept is simple.
In short, a SPIA has just two steps.
Step one, you make one-time upfront payment.
Step two, you get regular retirement payouts immediately.
Best of all, those payouts can last a lifetime.
If you live to 100, it pays to 100.
If you live you live longer, it pays longer.
So you never stop receiving income no matter what happens with rates or markets.
In some ways, a SPIA works like a pension plan.
Plus it's customizable with dozens of different payout possibilities.
And SPIAs typically have no added fees due to their simplicity.
Now, since a SPIA is designed for a long retirement
it's key to consider one from a company with a long history of high ratings.
Such as Standard and Poor's, Moody's, AM Best and Fitch.
And a strong COMDEX score which is an average of a company's ratings.
Note that the agencies that rate us are registered as nationally recognized statistical rating organizations with the SEC.
And we go to great lengths to maintain these standards.
For a final fact, SPIAs are actually the oldest form of income insurance.
They date to Roman times when soldiers received lifetime payouts for their service.
Of course, these days you don't have to march into battle for life.
You can get it from an annuity provider.
See if a SPIA suits your retirement needs.
Contact us to learn more.
Imagine driving your car.
But you only have so much gas.
Can't refill your tank.
And don't know how long your drive will be.
Or if your gas will last.
Well, retirement finances can be a little like that.
When you stop working, you only have so much money.
No more paychecks.
And you don't know how long your retirement journey will be.
Or if your assets will last.
A certain financial vehicle can help.
It's a Single Premium Immediate Annuity.
Or more simply, an Income Annuity.
And it can help fuel your retirement journey for a lifetime.
Think of income annuity kind of like a bottomless gas tank.
One that doesn't run dry.
Because it provides you ongoing payouts that can last as long as your retirement.
No matter how long it is. Guaranteed.
Fact is, almost half of Americans say running out of money is their top worry in retirement.
Especially with risks such as rising costs, market tumbles and longer lifespans that can eat up their assets.
But you can help your retirement money last down the road.
Fuel your future with an income annuity.
Learn more at WSFinancialPartners.com.
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