The Future Income Plus Annuity can help you prepare financially for a long and lively retirement. Annuity products are offered by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company (Licensed in NY and WI).
Even if you're already contributing the maximum amounts allowed by law to your 401(k) and IRA accounts, you could still be saving even more for retirement by adding the Future Income Plus Annuity.
A Single Premium Deferred Annuity is often used for:
Did you know?
Many customers who are interested in Estate Liquidity or Legacy Planning, and have purchased a State Farm® Survivorship Universal Life Policy, or a Single Premium Whole Life Policy have also expressed interest in a single premium deferred annuity.
*Distributions that exceed the 10% amount may be subject to surrender charges and a market value adjustment. Most withdrawals are subject to income tax and a 10% tax penalty if taken before age 59½. The minimum withdrawal amount is $500. Up to four withdrawals per year are allowed. Please see your tax advisor for more information.
Interest rates vary based on premium amount and term length. 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.
Contact your State Farm agent for details on additional income options that may be available to you.
Your single premium will earn interest at the current interest rate that State Farm has established.
Please contact your State Farm agent for the current interest rates and the minimum guaranteed interest rate.
Interest earned on the Future Income Plus accumulation value is generally federal income tax-deferred. This means it is not subject to federal income tax until it is received. Because of this, the annuity accumulation value can grow larger than would be possible if interest were taxed as it is earned. See your tax advisor for individual tax advice.
You may access your accumulation value at anytime. However, surrender charges and a market value adjustment may apply. A surrender charge is a fee owed upon premature withdrawal from the annuity. A market value adjustment is an increase or decrease in the value of the annuity based on current interest rates when a premature withdrawal occurs. The minimum withdrawal amount is $500. Up to four withdrawals per policy year are allowed. Please see your tax advisor for more information.
Policy Series Info
Or call 844-242-1899 for a quote.
This is a general description of coverage. A complete statement of coverage is found only in the policy.
Contact your State Farm agent for details on coverage, costs, and restrictions.
Neither State Farm® nor its agents provide tax or legal 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 59½ are subject to a 10% 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.
Not FDIC Insured
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.