Please expect a call from one of our experts, who will help find the retirement solutions that work best for your family.
It’s never too early to start planning for your retirement years. WoodmenLife can help.
For retirement planning, look to WoodmenLife annuities. Annuities are insurance contracts that are set up so you can grow your retirement savings and provide a guaranteed income. You make regular premium payments, or a single payment and receive regular income checks (payments) over time. Depending on your financial needs and objectives, annuities can be qualified or non-qualified. If a qualified annuity is right for you, you can consider a traditional IRA or a Roth IRA.
WoodmenLife offers both qualified and non-qualified annuities, and your Representative can help you understand which will work best for you. Let’s look at the difference between qualified and non-qualified.
You can fund a qualified annuity with pre-tax dollars, meaning the contribution itself could qualify for a tax deduction, lowering taxable income. When you take a distribution from a qualified annuity, you will need to pay taxes on the whole amount (the amount you put in and interest earned).
If you choose a non-qualified annuity, you will pay taxes on the money before it goes into the account. When you take money out, you will only need to pay taxes on the earnings.
Individual Retirement Accounts, commonly called IRAs, allow you to plan for retirement. There are different types of qualified IRA’s:
A traditional IRA uses pre-tax contributions and the investments in the account grow tax-deferred. Upon retirement, you pay income tax on withdrawals.
Roth IRAs allow you to make after-tax contributions and earnings can grow tax-free. After age 59½, withdrawals are tax and penalty-free.
These employer-sponsored retirement plan options are a good fit for small business owners.
We make it easy to roll 401(k) funds from previous employers into an annuity.
401(k) not offered as a product. Products offered are IRA variable annuities, IRA fixed annuities and IRA mutual funds.See How It Works
See the most current WoodmenLife annuity interest rates.View Rates
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A local WoodmenLife Representative can help you choose the best retirement products for where you are in life.