Also, money purchase benefits convert the total value of employee and employer contributions in your retirement account plus interest to a life annuity based upon your age at retirement. There is no additional age reduction. If this calculation provides a higher monthly benefit than the formula calculation, you will be paid a money purchase benefit.

An annuity may be right for you if:

1/ You are planning for retirement?

2/ You would like a product provide payments for as long as you live?

3/ Social security benefits will be sufficient to fund your retirement?

4/ You are paying too much in taxes?

5/ You want to beat bank interest rates.

6/ You want a lifetime income stream.

7/ You want to preserve principal.