Annuities

The Credit Union offers both single premium deferred and immediate annuities through its subsidiary SECU Life Insurance Company.1 Annuities can be used to meet retirement or other long range goals. The deferred fixed annuity offers a conservative approach to retirement savings with the added benefit of tax-deferred growth. An immediate fixed annuity guarantees a stream of income for the contract holder’s life or a set number of years that can be used to meet retirement income needs.

SECU Life Single Premium Deferred Fixed Annuity

  • Minimum deposit of $5,000
  • Maximum issue age of 80, contract matures at age 90
  • Non-qualified contracts available
  • Five (5) year interest rate guarantee
  • Five (5) year surrender period with the following surrender charges
    • Year 1: 5%
    • Year 2: 4%
    • Year 3: 3%
    • Year 4: 2%
    • Year 5: 1%
  • Annual 10% penalty-free withdrawal provision2
  • 30 day Free Look Provision
  • Available to North Carolina residents only

SECU Life Single Premium Immediate Fixed Annuity

  • Minimum deposit of $5,000
  • Maximum issue age of 90
  • Qualified and Non-qualified contracts available
  • Multiple payout options available, determined at contract origination
  • 30 day Free Look Provision
  • Available to North Carolina residents only
For detailed information about the annuity product offerings, please contact an insurance representative.

Annuities are provided through SECU Life Insurance Company. Annuities are not federally insured or guaranteed by your Credit Union.
1 Immediate annuities, deferred annuities, term and whole life insurance, auto, homeowners, and other personal lines of insurance are available through your local branch. These products along with health insurance are available through SECU Member Insurance Services. SECU insurance representatives are licensed to sell insurance in North Carolina only. You can contact an SECU insurance representative toll free at 1-888-732-8562 or locally in Raleigh at 919-857-2150 Monday - Friday from 8:00 am to 5:30 pm.
2 10% IRS penalty may apply on the earnings if funds are withdrawn prior to age 59½