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VAROOM®: Designed for Money in Motion

Going through a job change? Or going into retirement? Maybe your money should be going, too.

VAROOM was designed for money in motion - retirement plan rollovers, to be exact. It offers cost-effective investment options and retirement income guarantees. If it's "go time" for you - and your retirement money - VAROOM may be an option to consider. This flexible premium variable annuity is issued by Integrity Life Insurance Company or National Integrity Life Insurance Company as a traditional IRA, a Roth IRA or a SEP IRA. For investment options, VAROOM offers subaccounts that invest in exchange-traded funds – ETFs – from two big names in ETFs, iShares® and Vanguard. For more information on ETFs, click here.

Rolling qualified money into VAROOM maintains the tax-favored status of the investment – an important benefit for securing retirement savings progress - while offering a death benefit for your loved ones. Before making rollover decisions, carefully consider all available retirement plan options. Factors to include, but are not limited to, investment- or account-related fees and expenses, differing service levels and withdrawal penalties, as well as a limitation of one 60-day IRA rollover per year.

Retired woman getting away from everything

Benefits of VAROOM

Consolidating your money from IRAs and retirement plans in one convenient place makes tracking them simpler and easier. Consider the many benefits VAROOM offers:

  • You can choose your initial investments from $25,000 to $1 million.
  • You can add more premiums, starting as low as $1,000.
  • You can choose to invest your money over time with a systematic transfer option (STO), which automatically transfers your money into your selected subaccounts over a six- or 12-month period. Plus, your money earns a guaranteed fixed interest rate while in the STO.
  • You may change your investment allocations as often as every 60 days.
  • You’ll enjoy the same tax advantages you're accustomed to in your 401(k), 403(b) and other qualified plans, as well as in your IRAs.
  • You can choose from a variety of retirement income stream options, including some with lifetime payouts.
  • A death benefit can offer financial security for your loved ones.
  • An optional Guaranteed Lifetime Withdrawal Benefit can offer you added security for an additional annual charge.
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Could This Be the Right Solution for You?

VAROOM was created specifically for your retirement money in motion. You may want to consider this variable annuity if: 

  • You are at a career crossroads and changing jobs.
  • You have saved money within your employer's 401(k) plan but want to diversify your investments and have more control over your funds while maintaining the tax-favored status of your investment.
  • You are ready to retire and seek a new place for your retirement savings, one with some income options that offers regular payments for as long as you live.
mother daughter enjoying life with retirement money

Product Details

VAROOM offers you access flexibility — both before and after retirement — that can help add income confidence to your retirement journey. With VAROOM, you may withdraw up to 10 percent of your account value each contract year without a withdrawal charge (noncumulative and less any required minimum distributions). If you withdraw funds before age 59½, a 10 percent federal tax penalty on the withdrawal and additional income taxes may apply. The account value must be taken by the owner's 100th birthday. Fees and charges include, but are not limited to, mortality and expense risk charges, administrative fees, contract fees and additional charges for optional benefits. Withdrawals also may be subject to charges and will reduce annuity contract benefits and values. Refer to your product prospectus for complete information.

The Guaranteed Lifetime Withdrawal Benefit is an optional rider available at issue for an additional charge, provided you (and your covered spouse, if any) are age 45-80 on the contract date. It can provide guaranteed income for life while still allowing you to maintain a measure of control over your assets in VAROOM. Limit your withdrawals to the benefit's guaranteed amount, and that income is protected from market losses.

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Facts on Saving for Retirement

We can help you prepare for retirement.

45% of Americans have saved nothing for retirement. (The Motley Fool, 20 Retirement Stats That Will Blow You Away, Jan. 26, 2016.)

 56% of Americans have less than $10,000 saved for retirement. (GoBankingRates, March 2016, https://www.gobankingrates.com/press-releases/1-3-americans-0-saved-retirement/)

Overall, Americans are losing an estimated $24 billion every year in matching employer 401(k) contributions. (CheatSheet, 10 Retirement Statistics That Will Scare the Crap Out of You, Dec. 25, 2016.)

55% of retirees stopped working earlier than expected. Health was the number one reason, followed by job loss. (CheatSheet, 10 Retirement Statistics That Will Scare the Crap Out of You, Dec. 25, 2016.)

36% of American adults over 65 are completely dependent on Social Security. (The Motley Fool, 20 Retirement Stats That Will Blow You Away, Jan. 26, 2016.)

The average out of pocket medical costs for a 65-year-old couple will be $218,000 over the next 20 years. (The Motley Fool, 20 Retirement Stats That Will Blow You Away, Jan. 26, 2016.)

1 year in a skilled nursing facility can cost more than $200,000. (The Motley Fool, 20 Retirement Stats That Will Blow You Away, Jan. 26, 2016.)

Many adults don’t save for retirement because they say saving for retirement is like saving for a stranger. (MarketWatch, “This is why most people don’t save for retirement,” Oct. 22, 2016)

Other reasons include

  • I don’t make enough money
  • My employer doesn’t offer a  401(k)
  • My employer doesn’t offer a 401(k) match so it’s not worth it
  • I don’t know how
  • Retirement is decades away
  • I’m saving for a house, car, or vacation

(The (Mostly) Simple Life: Practical Ways to Simplify Your Home, Life & Finances, Nov. 4, 2016, http://www.themostlysimplelife.com/simple-money/saving-for-retirement/)

 

But being unprepared can drastically impact an individual’s retirement in many ways.

Even a small amount put aside each week can help build retirement savings.

We can help you prepare for retirement. Start Now.

Western & Southern Financial Group

Western & Southern Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation. The information provided is for educational purposes only.

©The Western and Southern Life Insurance Company, Cincinnati, Ohio, operates in DC and all states except AK, CT, ME, MA, NH, NY and VT. Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY and RI.

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There is no guarantee of the investment performance or safety of variable annuity investment options. Investment return and principal value of an investment in a variable annuity fluctuate, so units, when redeemed, may be worth more or less than their original cost.

Product issuer Integrity Life Insurance Company operates in DC and all states except ME, NH, NY & VT where issuer National Integrity Life Insurance Company operates. Touchstone Securities, Inc., an affiliate of Integrity, serves as the principal underwriter for our variable annuity contracts. All companies are members of Western & Southern Financial Group. Securities offered through W&S Brokerages Services, Inc., member FINRA / SIPC

Investors should carefully consider the investment objectives, risks, charges and expenses of the contract and the underlying investment options. This and other information is contained in the product and the underlying fund prospectuses and, if available, summary prospectus. Contact your Registered Representative to obtain a prospectus. Please read the prospectus carefully before investing.

Security products are not bank products, are not a deposit, are not insured by the FDIC, NCUA, or any other federal entity, have no bank guarantee and may lose value.

IMPORTANT DISCLOSURES

Integrity Life Insurance Company, Cincinnati, OH, operates in DC and all states except NY, where National Integrity Life Insurance Company, Greenwich, NY operates. Touchstone Securities, Inc., an affiliate of Integrity Life, serves as the principal underwriter for VAROOM variable annuity contracts. Securities offered through W&S Brokerage Services, Inc., member FINRA/SIPC. All companies are members of Western & Southern Financial Group.

Flexible Premium Deferred Fixed and Variable Annuity Contract series ICC10 INT-15 1011, ICC10 NIL-15 1011, NIL-15 1011 NY R, Guaranteed Lifetime Withdrawal Benefit Rider series ICC10 IR.32 1011, ICC10 IR.33 1011, ICC10 NR.32 1011, NR.32 1011 NY, ICC10 NR.33 1011, NR.33 1011 NY, Death Benefit Rider series ICC10 IR.34 1011, ICC10 NR.34 1011, NR.34 1011 NY.

The tax advantages available with this contract are solely through the contract's qualification as an IRA. VAROOM is subject to all laws governing IRAs including but not limited to age and contribution limits, early and late IRS withdrawal penalties, and required minimum distributions.

There is no guarantee of the investment performance or safety of variable annuity investment options. Investment return and principal value of an investment in a variable annuity fluctuate so units when redeemed may be worth more or less than their original cost.

Investors should carefully consider the investment objectives, risks, charges and expenses of the contract and underlying investment options. This and other information is contained in the prospectus and the underlying fund prospectuses and summary prospectuses, if available. For a free prospectus please call 800.325.8583 or visit wsfinancialpartners.com. Please read the prospectuses carefully before investing.

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