Yes. To purchase an SECU Life Deferred Fixed Annuity, you must be age 80 or younger. To open an SECU Life Immediate Fixed Annuity, you must be age 90 or younger.
Enhance your retirement
Annuities are designed to help you meet long-term goals like saving for retirement or supplementing retirement income. We offer both Deferred Fixed Annuities and Immediate Fixed Annuities through SECU Life.
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Tax-deferred growth
Earnings are not taxed until withdrawal,1 helping maximize your savings potential.
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Dependable, fixed rate
Protect your retirement savings from market fluctuations with a guaranteed interest rate for five years.2
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Multiple purchase options
Purchase with after-tax sources such as share term certificate, checking, savings, or money market accounts.
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Guaranteed income stream
Receive consistent payments that can last a lifetime.
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Prepare for expected expenses
Help cover your fixed costs in retirement with predictable payouts.
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Flexible purchase options
Purchase with after-tax or pre-tax sources such as checking accounts, money market accounts, 401(k)s, or IRAs.
Frequently asked questions about Annuities
You can open an SECU Life Deferred Fixed Annuity or an SECU Life Immediate Fixed Annuity with a minimum of $5,000.
Yes, you can purchase an SECU Life Immediate Fixed Annuity with after-tax or pre-tax sources such as checking accounts, money market accounts, 401(k)s, or IRAs.
An SECU Life Deferred Fixed Annuity would need to be purchased with after-tax sources such as share term certificate, checking, savings, or money market accounts.
Although you cannot make additional payments to an existing annuity after it has been purchased, you can open a new annuity.
The interest rate for an SECU Life Deferred Fixed Annuity is guaranteed for five years2.
Yes. You can withdraw up to 10% of the current balance of your SECU Life Deferred Fixed Annuity each contract year without paying a fee1. However, withdrawals made before age 59½ may be subject to a 10% federal tax penalty.
Yes. If withdrawals from a Deferred Fixed Annuity total over 10% of the annuity balance in a contract year, a surrender charge is applied to the amount in excess of 10%. The surrender charge is based on the contract year:
Contract year 1: 5%
Contract year 2: 4%
Contract year 3: 3%
Contract year 4: 2%
Contract year 5: 1%
After contract year 5, there is no surrender charge.
You can choose to receive income payments either for your lifetime (and if elected, the lifetime of a spouse) or for a fixed period.
The income payments you receive are based on your age, gender, the amount you pay SECU Life, and the income payment option you select. Call us at (833) 599-7328 to speak with an insurance specialist to explore your options.
