Combo Split Annuity Rates April 2023 | Income & Growth Guaranteed & Tax Excluded Income Payments!

10-Year Guarantee Combo Split Annuity Illustrations for April 2023, with guaranteed income and growth, along with a tax exclusion ratio. Take a look at the sample illustrations below:Show more

For a total premium of $500,000, the Immediate Annuity Side offers $205,893.00, while the Multi-Year Guarantee Annuity Side offers $294,107.00.

With a Growth and Income plan, you can expect to receive a monthly income of $2,085.75 for 120 months through the Immediate Annuity, while the Multi-Year Guarantee Annuity Side offers a guaranteed interest rate of 5.45% for 10 years.

Note that states which charge premium tax, including CA, CO, ME, NV, SD, TX, and WY, will result in a lower monthly income.

Regarding the Immediate Annuity Exclusion Ratio, assuming a 100% cost basis (previously taxed funds), your payment may only be 17.3% taxable. For example, a $2,085.75 payment with an 82.26% exclusion ratio would result in $1,715.74 excluded and $370.01 taxable. At a 25% tax bracket, each payment would have $92.50 in tax, leaving you with an approximate after-tax income of $1,993.24.

As for the Multi-Year Guarantee Annuity, the $294,107.00 cost basis and $205,893.00 interest gain are tax-deferred until withdrawn. After 10 years, if the annuity is surrendered or cashed out, the $205,893.00 will be fully taxable as income. However, if 1035 exchanged to a new split annuity, the tax deferral continues. If you use a partial 1035 exchange and place funds into a new split annuity, a prorated cost basis will be used, resulting in lower exclusion ratios for the income.

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Here are five reasons why a fixed annuity could be a wise choice for those who want to minimize their investment risk.

Guaranteed Income: A fixed annuity provides a guaranteed stream of income that is not subject to market fluctuations. The amount of income you receive is based on the terms of the contract you sign with the annuity provider, and this income is paid out regularly for a set period or for life. Knowing that you have a stable source of income that you can rely on can help to alleviate financial worries and provide peace of mind.

Principal Protection: Unlike other investment options, such as stocks or mutual funds, a fixed annuity offers principal protection. This means that your initial investment is guaranteed to be safe, regardless of market conditions. With a fixed annuity, you can rest assured that you won't lose any of your principal, no matter how the market performs.

Tax-Deferred Growth: Fixed annuities offer tax-deferred growth, which means that you don't have to pay taxes on your earnings until you start withdrawing your money. This can be a significant advantage, as it allows your money to compound more quickly, potentially leading to greater returns over time.

Flexibility: Fixed annuities offer a great deal of flexibility, allowing you to choose the terms that best suit your needs. For example, you can choose the length of the annuity term, which can range from a few years to several decades. You can also choose between a fixed interest rate or a variable rate that is tied to an index, such as the S&P 500. With so many options available, you can customize your annuity to match your specific goals and preferences.

Low Risk: Finally, fixed annuities are a low-risk investment option, making them an excellent choice for those who are risk-averse. While there is always some level of risk involved with any investment, fixed annuities offer a low-risk way to earn returns on your money. You won't have to worry about the ups and downs of the stock market, making fixed annuities an ideal choice for those who want a safe and reliable investment option.

In conclusion, a fixed annuity is an excellent choice for those who want to minimize their investment risk while still earning steady returns. With guaranteed income, principal protection, tax-deferred growth, flexibility, and low risk, fixed annuities offer a safe and reliable way to invest your money. If you're a risk-averse investor looking for a secure investment option, consider adding a fixed annuity to your portfolio.