Product Details
Product Name
IncomeSource
Annuity Type
SPIA
Issuing Insurance Company and Ratings
Integrity Life Insurance Company
Ratings
A.M. Best
A+
2nd of 15
Standard & Poor's
AA-
4th of 22
Fitch
AA
3rd of 19
Product Information
IncomeSource, our single premium immediate annuity, is a good way for customers to meet their future income needs or to ensure that they won’t outlive their retirement income. It’s the perfect vehicle for those looking to convert saved assets into guaranteed income. Customers make a single investment, which provides an immediate and steady stream of income for as long as they choose: a set number of years, an entire lifetime or beyond–guaranteed. If the initial investment is from a tax-deferred source (401(k), pensions or IRAs, for example), the tax liability can be spread over the length of the income stream chosen. Each separate payment will contain some of the taxable gain owed and some return of principal. Customers will only be taxed on funds as they are received, and IncomeSource allows them to spread that taxable gain throughout the years–even a lifetime.
Key Features
Premium Types: Single
Minimum Premium: 10,000
Maximum Premium: 2,000,000
Free Look Period: 10 Days
Rate Lock Period: 0 Days
Tax-Qualified: IRA, NonQual, SEP IRA, IRA-Roth, IRA Transfer, IRA Rollover
Rates
Initial Guarantee Period: N/A
Next Change: N/A
Premium Amount: $100,000 - See Notes (High-Band)
3 Year Guarantee Period Annual Yield:
Interest rate start of year 1 through end of year 3:
Current
4.05%
4.05%
Next Change: N/A
Initial Guarantee Period: N/A
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
Premium Amount: $100,000 - See Notes (Low-Band)
0-75: $1M Single Life only & Temporary Life 76-85: $500,000 for Single, Temporary, and Joint life. Higher amounts require prior company approval.
Interest rate start of year 1 through end of year 3:
Current
4.05%
4.05%
Accumulation Value (assuming no withdrawals)
Deposit Amount: $
State Approvals
Not available in GU NY PR VI
Withdrawal Provisions
First Year Withdrawals: No
Withdrawal Years 2+: No
Wait Period Interest Only : –
Withdraw from the accumulation Value After : End of Term
Minimum Policy Value : –
Withdrawl Calculated On: Accumulation
Date For Calculation: Contribution
Systematic Withdrawl: No
Min Withdrawl Amount: $100
Cumulative Free Withdrawl: No
Eligibility & Restrictions
Age Limits(Owner and Annuitant): 0-85; Ages 86 and higher require a set period of years.
Premium Limits: 0-75: $1M Single Life only & Temporary Life 76-85: $500,000 for Single, Temporary, and Joint life. Higher amounts require prior company approval.
State Restrictions: Not available in GU NY PR VI