An annuity offers benefits like tax deferral and flexible payout options to eliminate the chances of outliving your savings.

Annuity Advantages

  • Guaranteed Income

A life insurance company can provide you with a guaranteed lifetime income no matter how long you live.

  • Unlimited Contributions

Unlike other tax-advantaged investments such as IRAs, you can contribute an unlimited amount of money to an annuity during the year, whether in periodic installments or a lump sum. Individual insurance carriers may place a ceiling on the total amount you can put into an annuity without approval.

  • No-Penalty Rollovers

Tax qualified money can be transferred from company pension, 401k's or other Ira's with out incurring any IRS penalties.

  • No probate in case of death, as long as you specify beneficiaries.

the proceeds are paid directly to the named beneficiary.

  • Shelter Investment Earnings

Retired people can use annuities to shelter investment earnings that would otherwise lead to taxation of Social Security benefits.

  • Withdrawal and Early Withdrawal

Similar to Ira's, withdrawal before age 59 and 1/2 the IRS will impose a 10% penalty. There are certain exceptions to this rule. Also, because life insurance companies invest long term, most will apply a surrender charge in the early years of a policy. Many companies will allow an annual 10% surrender free withdrawal or taking and annual IRS Required Minimum Distribution surrender free. 


Goodness Insurance offers Single Premium Immediate Annuity, Flexible Premium Deferred Annuity, and Single Premium Deferred Annuities.

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Goodness Insurance Agency    |   2312 N. Grandview Blvd.   |    Suite 206    |    Waukesha, WI  53188
Phone: 262.547.7965    |    Fax: 262.522.3003     |    Email: bud@goodnessinsurance.com
Professional Insurance Agents of Wisconsin