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Tax Deferred Annuity
Select ChoiceTM Annuity -- 3, 5, 7 Year Surrender Charge Periods to Choose From
Choose a Tax Deferred Annuity for More Choices... More Flexibility... More Value
A Tax-Deferred Annuity Puts Your Money to Work... Without Locking it Away for a Long Time.
The Select ChoiceTM Annuity is an interest-earning contract between you and . guarantees your original principal and under current tax law, interest accumulates tax-deferred until it's withdrawn; which helps your money grow faster. The Select ChoiceTM Annuity provides competitive interest rates, safety of principal and a variety of guaranteed monthly income options, including guaranteed income for life.
Three Choices
Depending on your financial goals you can choose a tax-deferred annuity with a 3, 5, or 7 year surrender charge period.
Tax-Deferred Savings
The Select ChoiceTM Annuity is a tax-deferred annuity. Tax-Deferred means that taxes on your earnings are postponed until you begin to withdraw your money. This allows your money to grow without having to pay income taxes each year on the interest credited.
Access to Your Money
With our tax-deferred annuity options, you have access to all or part of your accumulated annuity value any time. You can withdraw up to 10% of your annuity's accumulated value as of the previous anniversary without surrender charges.*
Money-back guarantee
The Select ChoiceTM money back guarantee gives you the freedom to change your mind. You may surrender your annuity contract at any time for a refund of your initial premium, minus any premium taxes and any prior partial withdrawals. **
Who Can Apply For a Tax-Deferred Annuity?
The Select ChoiceTM tax-deferred annuity is available to individuals up to age 85. This single premium annuity has a minimum premium of $5,000 and a maximum premium of $200,000 without prior company approval.
Safety of Principal
Guarantees are subject to the claims-paying ability of Mutual Life Insurance Company, Inc.
Flexible Income Options
Upon maturity of your Select ChoiceTM Annuity, you can choose to receive income payments:
Throughout your lifetime or
For a designated period of time and continuing throughout your lifetime
Select ChoiceTM Features:
Tax-deferred growth of earnings.
Competitive interest rates.
Safety and security of principal.
Withdrawal flexibility
Money-back guarantee.
Guaranteed income options
To find out more details and learn about how an Select ChoiceTM tax-deferred annuity can help make your money work harder, contact your sales advisor at 1-800-691-5073.
*Withdrawals may be taxable transactions and prior to age 591/2 may be subject to a 10% penalty. If you need more than 10%, or make more than one withdrawal per policy year, the following surrender charges will be deducted.
7 year annuity: years 1 to 3 - 7%, year 4 - 6%, year 5 - 5%, year 6 - 4%, year 7 - 3%.
5 year annuity: years 1 to 3 - 7%, year 4 - 6% and year 5 - 5%.
3 year annuity: years 1 to 3 - 7%.
**If the contract is surrendered without prior withdrawals, the surrender charges will not exceed the interest earned, less any partial withdrawals and premium taxes.
Not licensed in all states. Not all products or product features available in all states.
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