Single Premium Deferred Annuity
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Why A Deferred Annuity From North Coast Life?
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Determine if you and your spouse will need to supplement your Social Security and pension benefits with a steady stream of income,
if so, North Coast Life's Single Premium Deferred Annuity was designed for you.
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Choose an amount to calculate
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Retirees often purchase single premium deferred annuities with funds received from bank or brokerage firm CDs or IRAs,
an employer-sponsored retirement plan, the proceeds from a savings account, the cash value or death proceeds of a life insurance
policy, or the proceeds from the sale of a home. IRAs, 401(k)s and other qualified retirement plans require minimum distribution of the
funds starting at age 70 ½ in order to avoid immediate taxation. North Coast Life's Single Premium Deferred Annuity is an excellent choice for meeting
these distribution requirements and was created to be one of the most secure lifetime income plans on the market today, with a variety
of flexible guaranteed payout options.
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Request a Free
Single Premium Annuity Illustration
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Fully Guaranteed Safety
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In today's world, safety is more important than ever. You can be assured that with North Coast Life's Single Premium Deferred Annuity, your consideration
is invested wisely. 97% of policyholder reserves are invested in safe, investment grade bonds. North Coast Life has the
financial strength and stability consumers need when making an important decision like buying life insurance and annuities.
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Prepare for Your Retirement
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Under a deferred annuity, you can elect an option (an immediate annuity), that provides a
periodic stream of income payments that will prevent the payment of the tax penalties mentioned above.
Under such an option, tax deferral is continued on funds not yet withdrawn. Under an immediate annuity,
part of each payout will be treated as a return of earnings and taxed as ordinary income. The balance of
the payment is considered a return of contributions and will only be taxed if the contributions were
made on a tax deferred basis. You may purchase an immediate annuity with funds transferred in a tax
free exchange from another tax-qualified plan. Periodic Income payments for life meet the
minimum distribution requirements of tax-qualified plans.
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Tax Qualified and Non-Qualified Plans Available
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The Single Premium Deferred Annuity annuity can be written in IRA, SEP-IRA, 401(k), Pension and Profit Sharing Plans, as well as non-qualified plans.
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Premium (Contribution) Tax
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Upon annuitization (in applicable states), a premium (contribution) tax is deducted..
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