Annuity Questions and Answers

Many people are confused when purchasing annuities. Here are a few questions and answers that may help you understand the Slovak Catholic Sokol certificates:

	What is an annuity?
	What are single and flexible premiums?
	What is a deferred annuity?
	Who can I contact to help me?

Annuities could be considered an "upside down" insurance policy. Simply, annuity contracts purpose is to provide income during one's retirement.

• Annuities provide set payments over a period of time that is designated through options selected by the contract owner.

For more information, go to www.pueblo.gsa.gov/cic_text/money/annuity/annuities.htm .

The Slovak Catholic offers the two types of premium (payments)

You can purchase an annuity in two ways:

• Single Premium -1 payment to purchase an annuity. You cannot contribute more money to a single premium annuity after the initial payment. You would need to purchase another annuity.

• Flexible Premium - Gives you the flexibility to contribute continuously to the annuity prior to the annuity start date. You can contribute money at regular or even irregular intervals anytime you want.

For more information, go to www.pueblo.gsa.gov/cic_text/money/annuity/annuities.htm

A deferred annuity means your earnings grows tax deferred until take you withdraw or receive the annuity income . However, the IRS will penalize withdraws prior to age 59 1/2.

For more information, go to www.pueblo.gsa.gov/cic_text/money/annuity/annuities.htm

The Slovak Catholic Sokol Home Office can help you with your insurance questions and help you find the right plan or combination of plans to fit your needs. Contact us during regular business hours.

For more information on annuities, go to www.pueblo.gsa.gov/cic_text/money/annuity/annuities.htm

Slovak Catholic Sokol