An income annuity, also known as an immediate annuity or payout annuity, is an ideal way to ensure you’ll have an income source for as long as you live. It’s purchased with a single premium payment and your income payments typically begin in a month; you can defer your first payment for up to a year. Payments will continue as long as you live or for a guaranteed period of time that you select.
- Transfer assets to purchase an income annuity - transfer funds from an IRA, Roth IRA, or 401(k), 403(b) or 457 account.
- Advantages Concerning IRS requirements - offers access to tax-deferred retirement assets prior to age 59 ½ without paying penalties to the IRS.
- Income Payments can be Fixed or Variable - payments you receive can be fixed, or you may choose to have payments increase by a set percentage each year.
- Medical Underwriting Reduces Premium Cost - Some people have medical conditions and can benefit from being medically underwritten to receive a rated age that will enhance your annuity benefit.
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- Cost-efficient means of wealth transfer.
- Wealth accumulation within a tax-favored vehicle.
- Platinum Income Annuity® (Contract 01060)
Contact an agent now regarding this and other American General Life Insurance Company products.
Annuity issued by: American General Life Insurance Company
A subsidiary of American International Group, Inc. (AIG)
2727-A Allen Parkway, Houston, TX 77019
The underwriting risks, financial and contractual obligations and support functions associated with products issued by American General Life Insurance Company (AGL) are its responsibility. AIG does not underwrite any insurance policy referenced herein. American General Life does not solicit business in the state of New York. Policies and riders not available in all states.
The fixed annuity product is not insured by the FDIC or any Federal Government Agency. It is not a deposit of or guaranteed by the Financial Institution or any affiliate. The payments from this fixed annuity are solely the issuing insurer's responsibility.
