Annuities are designed to receive and grow funds from an individual. They are primarily used to provide cash flow during your retirement years. There are a variety of cash flow options for you to choose from.Farm Bureau Insurance proudly offers the following annuity options:

Traditional IRA

A traditional IRA allows you to set aside retirement savings on a tax-deductible and tax-deferred basis. 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.

With our IRAs, we review interest rates quarterly while offering a guaranteed rate as well.

Roth IRA

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 you only pay taxes on interest earned when you take money out of the account. So you know the money you have set aside for retirement is all your money; there’s 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 the money in your account directly to the beneficiary of your choice.

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 basis (monthly, quarterly, etc.). The payments can continue for the rest of your life or for a specific number of years.

Tax-Sheltered Annuities

These tax-deferred retirement plans are available to employees of organizations that qualify under the tax code as nonprofit organizations.

Simplified Employee Pension (SEP)

A SEP is a tax-deferred retirement plan for self-employed persons or owners of small companies. The SEP allows a larger amount of your income to be set aside for retirement than traditional and Roth IRAs.