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Advantage 50 Annuity

BetterLife’s Advantage 50 Annuity may be a good place for you to store funds from a large inheritance, proceeds from selling your home, or a large sum of cash that you want to hold onto until retirement.

The Advantage 50 Annuity is a single payment deferred annuity. It is purchased with a single lump-sum premium payment and payouts do not begin until a designated time in the future. Because you are deferring annuity payouts to a later date, you are also deferring tax payments on any interest your annuity earns. Interest will not be taxed until the time it is withdrawn.

Our Advantage 50 Annuity offers:

  • One, easy deposit: A one-time, lump-sum deposit grows over time and can be turned into a stream of income in the future that can last for a set period of time or for the rest of your life.
  • Guaranteed interest rate: Your interest rate is locked in during the first five years. After five years, your interest rate can fluctuate but it will never go below the guaranteed minimum interest rate of 1%.
  • Penalty-free withdrawals*: Policy withdrawals on interest earned can be made without penalty; additional withdrawals during the first five policy years will be assessed the appropriate surrender charge.
  • Death proceeds: The full annuity fund value is paid at the time of death.

*Withdrawals are subject to income tax, and most withdrawals made prior to age 59 1/2 are subject to a 10 percent IRS penalty. Guarantees are backed by the financial strength and claims-paying ability of BetterLife.

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