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Learn About Annuities

The Hofmans found CAA annuities were their solution.  

Ray and Pamela Hofman of Vermillion, South Dakota, wanted more retirement savings than just their pensions.

 

CAA annuities were their solution...Read more

     

Catholic Aid annuities and individual retirement annuities (IRAs) are designed to offer security, simplicity and reliable growth for your hard-earned money. CAA annuities insulate your future retirement income from stock market volatility or other investments that can lose value.

What is an annuity?

An annuity is a series of payments made at regular intervals. In return for premiums that you pay, Catholic Aid will pay you an annuity.

The main reason to buy an annuity contract is to obtain an income, usually for retirement purposes.

An annuity contract is not a life insurance policy or a health insurance policy. It is not a savings account or savings certificate, nor should it be bought for short-term purposes.

Catholic Aid offers annuities as a way for members to save for their future. Annuity products offer:

  • Competitive interest rates,
  • Guaranteed minimum interest rate,
  • 100% of your deposit earns interest for you,
  • No account fees, service fees or contract fees,
  • Surrender charges apply during the early years of the contract.

Annuities can be used when saving for retirement, to reduce your current income tax liability or simply to enjoy seeing your money grow tax-free or tax-deferred. Regardless of your situation, Catholic Aid can provide you with stable, secure and competitive savings products.

Types of Catholic Aid Annuities

Flexible Premium

Requires a low minimum to start the account, yet allows ongoing deposits.

Single Premium

One-time contribution of at least $5,000

Types of Catholic Aid IRAs

(Individual Retirement Annuities)

Roth IRAs

   

A retirement savings account funded with after-tax dollars; after five years, qualified withdrawals of both principal and interest are tax-free once you reach age 59½.

Traditional IRAs

   

A retirement savings account that defers taxes until you withdraw the funds. Contributions may be tax deductible.

Rollovers

   

You can move money from a pension, IRA, 40I(k) or other qualified retirement account and transfer it into a Catholic Aid individual retirement annuity (IRA). This provides security, consolidates your accounts, and saves you money because Catholic Aid does not charge fees for the rollover process.

Click here to learn more about Catholic Aid's retirement products.

Contact Your Field Representative

If you have any questions about Catholic Aid annuities, please contact an insurance professional. Find your Field Rep by clicking here or call 1-800-568-6670.

Annuity Contract Features
Flexible Premium Annuity
Glossary of Annuity Terms
How to buy an annuity
IRAs - The Hofmans' Story
Single Premium Annuity
Types of Annuity Contracts

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Catholic Aid Association is not licensed in all states. Nothing contained herein should be construed as a solicitation for insurance, financial products or annuity products in any state in which Catholic Aid Association is not licensed. Catholic Aid Association is licensed to sell insurance in Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota. © 2010 Catholic Aid Association.