Farm Bureau Insurance offers annuities tailored to your needs
A traditional IRA allows you to set aside retirement savings on a tax– deductible and tax–deferred basis. This means you don’t pay taxes on your earnings until you withdraw them. This allows you to earn interest on earnings that would have been lost to taxes. (Withdrawals are subject to certain IRS restrictions.) There are maximum contribution limits defined by the IRS. We review interest rates quarterly while offering a guaranteed rate as well.
This type of IRA is similar to a Traditional IRA because it also offers tax-free growth on your retirement savings. However the Roth IRA is NOT tax-deductible. The big benefit to a Roth IRA is that the withdrawals are Tax-Free. So you know the money you have set aside for retirement is all your money, no guessing about how much you will have to pay in taxes. The Roth IRA is also a way to establish independence from employer based retirement systems as well as providing the ability to leave your assets directly to the beneficiary of your choice. (Withdrawals are subject to certain IRS restrictions.) There are maximum contribution limits defined by the IRS. We review interest rates quarterly while offering a guaranteed rate as well.
Single Premium Deferred Annuity
If you have retirement savings that you'd like to transfer into a secure plan, this is a great alternative. It pays a competitive interest rate with a guaranteed minimum interest rate as well.
Single Premium Immediate Annuity
You pay us a single premium and we pay it back to you on a periodic (monthly, quarterly, etc.) income that can continue for the rest of your life or a specific number of years.
Other Annuity Options
Tax Sheltered Annuities — A tax-deferred retirement 403(b) plan available to employees of organizations that qualify under Section 501(c)(3) of the IRC as nonprofit organizations.