Tax Deferred Annuities
The Legacy Annuity can be set up so that the named beneficiaries
receive either a lump sum benefit or an income stream to avoid
situations where the beneficiary may be tempted to spend their
inheritance in a manner that would be detrimental to them or against
your wishes.
Legacy Annuities have an eight year surrender period (a "penalty
for early withdrawal" that decreases each year) but we allow for
penalty free withdrawals of up to 10% per year during the surrender
period. In addition, Legacy Annuities allow for the penalty free
withdrawal of up to an additional $25,000 of your funds due to
confinement in an eligible nursing home.2
1. LCBA Annuities have a rate guarantee that is calculated
using 5-year constant maturity treasury rates and will not be less
than 1.0% nor greater than 3.0%.
2. This benefit is provided under the Nursing Home Rider #NHR-99
