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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:
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.
|Policy Year||Percent (%) of Accumulation||Value for NY (%)|
This adjustment will depend on how prevailing market interest rates have changed since the beginning of the guarantee period, as well as the amount of time remaining in the guaranteed period. In general:
State Farm waives surrender charges and the market value adjustment in the following situations:
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.
Securities are not FDIC insured, are not bank guaranteed and are subject to investment risk, including possible loss of principal.
State Farm Life Insurance Company (Not licensed in MA, NY, or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Home Office, Bloomington, Illinois
Each insurer is financially responsible for its own products.