Future Wealth Builder™

* This product is currently not available.

A Flexible Premium Deferred Life Annuity

Even if you're contributing the maximum amount allowed by law to your 401(k) and IRA accounts, you could still be saving even more for retirement by adding the Future Wealth Builder Annuity.

  • “Flexible premium” means you can pay premiums at any time.
  • “Deferred” means you start receiving income more than 12 months after State Farm® receives your first payment.

Why buy a Flexible Premium Deferred Life Annuity:

  • Premiums grow at a fixed interest rate
  • Your money will earn an interest rate guaranteed for at least one year
  • Other than the initial minimum payment, you choose when and how much to pay
  • You can choose when you begin receiving monthly payments
  • There are no up-front sales charges or state premium tax charges. Interest earned is generally tax-deferred

Premiums

Once the minimum initial premium requirement is met, you can choose the premium amount you pay ($100 or more) and can make payments at any time. Payment reminders are available. An annual policy fee may apply for balances under $10,000. Contact your State Farm agent for information regarding the availability of this product and for policy details on minimum premium requirements, coverage, costs, and restrictions.

Income Payment Options

This Flexible Premium Deferred Life Annuity allows you to accumulate money with interest until some future date. Then, when you retire, you can take the accumulation value in one sum or choose from a number of income payments options, including:

  • Life Income: Income is guaranteed for your lifetime
  • Life Income with 10 Years Certain: Income is guaranteed for the greater of the certain period of your lifetime. Certain periods from 5 through 20 years are available
  • Joint & Last Survivor Life Income: Income is guaranteed for the greater of your lifetime or your joint annuitant’s lifetime

Contact your State Farm agent for details on additional income options that may be available to you.

You can also allow your accumulation value to keep growing after retirement, if you wish, and choose when you begin receiving monthly payments. For example:

  • You can wait until you are 95 (90 in NY)
  • For tax-qualified plans (other than Roth IRAs), Required Minimum Distributions must begin by April 1 of the year after you reach age 70 1/2

Interest Rates

Your money will earn an interest rate guaranteed for one year. The larger your account, the higher the interest rate may be. Please contact a State Farm agent for current interest rates and the minimum guaranteed interest rate.

Tax Advantages

  • Interest earned on the Future Wealth Builder accumulation value is usually tax-deferred. Generally, you will not be liable for taxes on the earnings until they are paid out. This allows the annuity accumulation value to grow larger than would be possible if interest were taxed as it is earned. See your tax advisor for individual tax advice

Some annuities are used to fund a tax-qualified plan. These tax-qualified plans can include:

  • Business Retirement Plans
  • Traditional IRAs
  • Roth IRAs

  • Withdrawals & Charges

    You may access your accumulation value at any time. The minimum withdrawal amount is $500. Up to 4 withdrawals per policy year are allowed. State Farm offers a systematic withdrawal program that allows the annuity owner to receive monthly, quarterly, semiannual, or annual payments from their Deferred Annuity. A policy owner may participate in the systematic withdrawal program at any time before the final Annuity Date. The minimum required to establish a systematic withdrawal program is $100. Surrender charges may apply (see below). Please see your tax advisor for more information.

    There are no up-front sales charges or state premium tax charges. All of your premiums earn interest from the date funds are received by State Farm. An annual policy fee may apply for balances under $10,000. The Future Wealth Builder Annuity does include surrender charges, which are explained below.

  • Surrender Charge

    Policy Year Percent (%)
    1st 9%
    2nd 8%
    3rd 7%
    4th 6%
    5th 5%
    6th 4%
    7th 3%
    8th 2%
    9th 1%
    10th+ 0%

  • Waiver of Surrender Charges

    Waiver of Surrender Charges

    State Farm waives surrender charges in the following situations:

    • If withdrawals, on a policy year basis, are 10 percent or less of your initial premium in the first year, or 10 percent or less of the accumulation value at the end of the prior policy year in later years
    • Death of the annuitant if a death benefit is payable
    • Qualifying terminal illness (refer to policy for definition)
    • Qualifying nursing home or hospital confinement (refer to policy for definition)
    • A life income option is chosen after one year

Policy Series Wording Information

This is a general description of coverage. A complete statement of coverage is found only in the policy.

Issued by:

State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Bloomington, IL


  • View additional disclosures

    Contact your State Farm agent for details on coverage, costs, and restrictions.

    State Farm agents do not provide tax, legal, or investment advice. Please consult your tax, legal, or investment advisor regarding your specific circumstances.

    Guarantees are based on the claims-paying ability of the issuing State Farm Life Insurance company.

    Withdrawals made prior to age 59 1/2 are subject to a 10 percent federal income tax penalty.

    In a tax-qualified retirement plan, federal-income-tax deferral is provided by the tax-qualified retirement plan. No additional tax deferral is provided by an annuity. You should contact your attorney or tax advisor for more complete information.

    Insurance policies and/or associated riders and features may not be available in all states, and policy terms and conditions may vary by state.

    Deferred Life Annuity policy series 10040, 10090, A10040, and A10090.

Not FDIC Insured
  • No Bank Guarantee
  • May Lose Value

IL-156.1

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