Consumers are on a seemingly endless quest for a safe haven for their retirement dollars. Selecting the best financial services depends on your financial goals and market conditions. Fixed annuities from State Farm Life Insurance Company or State Farm Life and Accident Assurance Company (Licensed in New York and Wisconsin) can help you reach those goals.
Sounds simple, right? Yet there's a lot of confusion and misinformation out there when it comes to annuities. At State Farm™ we're committed to providing you with the answers you need to make confident, well-informed choices when it comes to your future.
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Immediate Annuities – Guarantee yourself an income for life.
With an Immediate Annuity, your money provides guaranteed payments to you that begin soon after you make your initial payment. Depending on the tax-qualified or non-tax-qualified status of your annuity, a portion, or the entire payment can be included in your taxable income. The owner can elect to receive guaranteed payments for life, or elect payments to be made over a specified length of time.
Deferred Annuities – Increase your retirement savings.
The tax-deferral and compounding of interest provided by a fixed interest annuity can help it to grow larger than an equal contribution in a taxable account. Gains are taxed as ordinary income once the money is withdrawn. Annuities can also be used to fund traditional IRAs, Roth IRAs and Simplified Employee Pension Plans. (Income tax-deferral is provided by the retirement plan.)
*Unisex rating applies to certain tax-qualified plans and policies issued in Montana.
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Living independently is a priority for many aging adults. Easy to use technology can help families keep aging loved ones safe.
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This is a general description of coverage. A complete statement of coverage is found only in the policy.
For more details on coverage, costs, restrictions, and renewability; or to apply for coverage, contact your local State Farm agent.
Insurance policies and/or associated riders and features may not be available in all states, and policy terms and conditions may vary by state.
Contact your State Farm agent for details on coverage, costs, and restrictions.
Neither State Farm nor its agents provide tax or legal advice.
Withdrawals made prior to age 59½ are generally subject to a 10% federal income tax penalty unless an exception applies.
Guarantees are based on the claims-paying ability of the issuing State Farm Life Insurance company.
Not FDIC Insured
- No Bank Guarantee
- May Lose Value
State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Each insurer is financially responsible for its own products.