Annuities may seem confusing at first, but simply put, they are a financial tool designed to help provide steady income during your retirement years. You pay a certain amount in your annuity, it grows over time, then you begin to receive income for life or a set number of years when you retire.
Grow your retirement nest egg with these annuity options. Annuities are financial products that allow you to accumulate your retirement income on a tax-deferred basis.
Royal Neighbors offers several types of fixed annuities.
Form Series 1221, 1022, 1021, 200231a
A fixed annuity is a long-term, tax deferred product designed for retirement savings and has limitations, including surrender charges. Administration fee applies if minimum annual accumulation values are not satisfied.
Life insurance and annuity contacts are products of the insurance industry. They are not a deposit, not FDIC or NCUA insured, not insured by any federal government agency, and not guaranteed by any bank or credit union. Guarantees are based on the financial strength and claims paying ability of Royal Neighbors of America. May lose value.
Because strong women build strong communities, you’ll find Royal Neighbors members throughout America’s cities and hometowns changing the world. This is not a new concept for us. Volunteering and the importance of neighbor-helping-neighbor have been Royal Neighbors’ vision since 1895. It’s part of our DNA.
Whether it’s time, money or both, many parents and grandparents want to help their families. One practical choice is to give the gift of life insurance. It’s a sensible way to share in the most valuable thing of all – the future.
Parent signature is required if Proposed Insured is a minor. If face amount is greater than $25,000, other grandchildren must have similar amounts of coverage. NOTE: For issue ages 0 - 15, Petitioner rules apply. Petitioner rules state that through age 16, the Petitioner exclusively controls the certificate. When minors reach ages 16-20, the certificate becomes jointly controlled between Petitioner and insured minor. At age 21, the insured gains full control of certificate.
Royal Neighbors sums it up by providing opportunities for members to create a powerful difference in their communities. This is not a new concept for us. Volunteering, giving back, and the importance of neighbor-helping-neighbor have been our vision since 1895. Ready to be the change you want to see? Join us.
a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).
The calculations contained within this calculator are specific to Royal Neighbors of America. It is intended to estimate an amount of life insurance coverage if death occurred in the near future. It is not a recommendation for specific coverage amounts. Your financial needs may differ from the estimates. Royal Neighbors does not guarantee that the amount illustrated here will meet your financial needs. You are responsible for selecting the appropriate amount of coverage. To evaluate your specific needs, please contact Royal Neighbors directly at (866) 845-6665.
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Calculations include your answers to the previous questions, in addition to the following: 3% investment return; 2.6% anticipated inflation rate; $8,500 for funeral expenses which is based on the national median cost for an adult funeral in 2014 according to the National Funeral Directors Association1; 75% of your annual combined income for desired annual income needs; and 15 years for the number of years’ income needed or the calculation of the number of years it will take your youngest child to complete higher education, whichever is greater. Social Security benefits were factored based on the age of your youngest children (up to 4). Immediate needs include your mortgage, other debts, and $8,500 for funeral expenses.
College cost estimates are based on the following parameters (based on data provided by [College Board] . The inflation rate for college costs (5.48% annually) is based on the Bureau of Labor and Statistics Consumer Pricing Index average from January 1996-June 2016. This rate will factor into college cost assumptions for future years, adjusted annually.
1 “The national median cost of a funeral with viewing and burial for calendar year 2014 was $7,181. If a vault is included, something that is typically required by a cemetery, the median cost is $8,508. The cost does not take into account cemetery, monument or marker costs or miscellaneous cash-advance charges, such as for flowers or an obituary.” http://www.nfda.org/news/statistics