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This document contains the filing information for a new individual flexible purchase payment deferred fixed annuity by Fidelity Security Life Insurance Company, including endorsements and riders for

How to fill out individual flexible purchase payment

How to fill out Individual Flexible Purchase Payment Deferred Fixed Annuity

1. Read the application form carefully.
2. Provide personal information including name, address, and Social Security number.
3. Indicate the amount you wish to contribute and how often you plan to make contributions.
4. Choose the investment options that align with your financial goals.
5. Provide beneficiary information to designate who will receive the funds in case of your passing.
6. Review and sign the application form to confirm your choices.
7. Submit the application along with your initial payment.

Who needs Individual Flexible Purchase Payment Deferred Fixed Annuity?

1. Individuals seeking a tax-deferred savings option for retirement.
2. People looking for a way to manage their investment risk while securing future income.
3. Individuals wanting flexibility in contributions and withdrawals.
4. Those who want to ensure a death benefit for their beneficiaries.
5. Retirees wanting to supplement other sources of retirement income.

People Also Ask about

What is the difference between a fixed annuity and a deferred annuity?

A fixed annuity provides fixed-dollar income payments backed by guarantees in the contract. During the accumulation period of a fixed deferred annuity, your money (less any applicable charges) earns interest rates set by the insurance company spelled out in the annuity contract.

How much does a $100,000 deferred annuity pay per month?

The bottom line A $100,000 annuity can provide you with a monthly income of between roughly $525 and just over $1,000, depending on your age, the payout structure and the features you select.

What are the disadvantages of a deferred annuity?

High fees and charges: These fees can include administrative fees, surrender charges, mortality expenses, and commissions which may limit your investment returns, so it's important to assess the costs of a deferred annuity in relation to its benefits before investing.

What is the downside of a spia annuity?

Some of the advantages of SPIAs include simplicity, lower fees, and guaranteed income, but the tradeoff is loss of control over the money. Your age and other factors can influence the taxation of your annuity payments.

What is the downside of a fixed annuity?

Here are the three main downsides of fixed annuities: The illiquidity, meaning you can't usually make withdrawals whenever you like. You can't leverage potential market growth. No inflation protection unless you add riders, in turn reducing your yearly earnings.

Is a deferred annuity the same as a fixed annuity?

There are three basic types of deferred annuities: fixed, indexed, and variable. 2 As their name implies, fixed annuities promise a specific, guaranteed rate of return on the money in the account. Indexed annuities provide a return that is based on the performance of a particular market index, such as the S&P 500.

What is a flexible payment deferred annuity?

A Flexible Premium Deferred Annuity is an annuity that allows for periodic premium payments and offers potential growth over time. Updated August 13, 2024.

What are the disadvantages of a deferred annuity?

High fees and charges: These fees can include administrative fees, surrender charges, mortality expenses, and commissions which may limit your investment returns, so it's important to assess the costs of a deferred annuity in relation to its benefits before investing.

For pdfFiller’s FAQs

What is Individual Flexible Purchase Payment Deferred Fixed Annuity?

An Individual Flexible Purchase Payment Deferred Fixed Annuity is a financial product designed to provide individuals with a stable income stream during retirement. It allows policyholders to make flexible contributions over time, with the accumulation of interest that is typically guaranteed by the issuing insurance company until the contract matures or the person reaches retirement age, at which point it can convert to regular annuity payments.

Who is required to file Individual Flexible Purchase Payment Deferred Fixed Annuity?

Typically, individuals who purchase this type of annuity contract may be required to file it as part of their tax documents, particularly if they are deferring income or if the contract generates taxable income. Additionally, financial advisors or insurance companies that administer the annuity may be required to file certain regulatory documents related to the sale.

How to fill out Individual Flexible Purchase Payment Deferred Fixed Annuity?

To fill out an Individual Flexible Purchase Payment Deferred Fixed Annuity, you generally need to provide personal information such as your name, address, Social Security number, financial details for contributions, and beneficiary information. It's important to read the application instructions carefully and to provide accurate information to ensure the annuity is properly set up.

What is the purpose of Individual Flexible Purchase Payment Deferred Fixed Annuity?

The purpose of an Individual Flexible Purchase Payment Deferred Fixed Annuity is to help individuals prepare for retirement by allowing them to make variable contributions that grow over time under a fixed interest rate. This type of annuity provides financial security and helps ensure a steady stream of income during retirement years.

What information must be reported on Individual Flexible Purchase Payment Deferred Fixed Annuity?

Information that must typically be reported includes the amount of contributions made, the interest earned, any withdrawals taken, and the total balance at the time of conversion or maturity. Additionally, tax-related information must be tracked for reporting purposes to the IRS and state tax authorities.