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Managing your retirement income to last.
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More than likely, one of your greatest concerns in retirement is a steady stream of income you can count on. Your financial goals don't disappear when you retire, so you'll need reliable income for costs that may include:
Ø Living expenses
Ø Vacations
Ø Life Insurance
Ø Long term Care Insurance
Consider John Hancock Managed, an immediate fixed annuity offering the payment options and stability that will help you meet your needs and achieve your goals in retirement.
A Single Premium Immediate Fixed Annuity
You've made your money, now make it last. Contact your financial professional today to create an income plan that's right for you.
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Product Parameters
Single Premium: $10,000 or more (qualified and nonqualified)
Income Frequency: Annuity income payments are available monthly, quarterly, semiannually, or annually.
Issue Ages: Life payment options, 5-85
Tax Deferral: An immediate annuity spreads your money over several years, so you can spread out your taxes instead of paying them up front with a lump-sum distribution. In some cases, a portion of your income payment is excluded from income tax altogether if your annuity is funded with nonqualified money. Each payment will consist of earned interest, which is reported as taxable income to the IRS, and a partial return of your original premium, which is money you've already paid taxes on.
Versatility: You can choose to receive checks regularly for the rest of your life or several other options. The amount you receive will be based on a number of factors including the initial premium amount, the annuitant's age and gender, the annuity option chosen and the current rates available.
Qualified plan availability: Available for qualified and nonqualified retirement plans.
State availability: JH Managed is available in all states.
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Annuitant
The Person whose life expectancy and gender that the annuity payments are based on if a lifetime payment option is selected. The annuitant receives the annuity payments, unless otherwise directed.
Owner
In most circumstances, this person has total control in directing who receives the annuity payments. The owner is responsible for any applicable taxes.
Contingent Payee
The person who receives the benefits of the annuity in the event of the annuitant(s) death, if an applicable income option were selected. The contingent payee may also be referred to as the beneficiary.
Creating Income With an Immediate Annuity
Your asset (i.e., cash or proceeds from an inheritance, real estate sales, or 401(k) plan) is converted into a series of payments based on the annuitant's age and gender, annuity option selected and current rates available.
An annuity is a long-term contract designed for retirement purposes, wealth accumulation, wealth distribution and wealth transference and is not suitable for meeting short-term objectives.
FAJHMWEB 12/06 Policy Form Series: 78-50, 70-50, 84-60