MEMBERS® Fixed Annuities
A MEMBERS Fixed Annuity through CMFG Life Insurance Company can serve as a safe, stable investment at the core of your retirement plan. Fixed deferred annuities offer you the advantages of guaranteed interest rates, tax-deferred growth, and a wide range of guaranteed income options.(1)
A fixed annuity is a contract with an insurance company that allows you to accumulate assets for the future. You agree to pay a single premium or series of payments, and the insurance company pays you interest on your money. You receive a guaranteed rate of return, regardless of economic volatility and market conditions.
With a fixed annuity you pay no taxes on your earnings while they accumulate, so your money may grow faster until it’s time to start income. If you've already taken maximum advantage of other tax-favored investments, like an employer 401(k) plan, you may want to consider a MEMBERS Fixed Annuity. Because they are tax-favored, though, annuities are subject to a 10% tax penalty for withdrawals before age 59½, and income taxes are due on your gains at the time you take out money.(2) Keep in mind that fixed annuities can also be purchased to fund a tax-qualified plan like an IRA.(3)
At retirement, you can receive a guaranteed income for life, income for a set period of time, or a lump sum. It's your choice.