Viking Magazine - November 2015 - 11

Sons of Norway offers three kinds of annuities. The fi rst is a Single Premium
Deferred Annuity where you put in a lump sum of money one time and the money
grows at a competitive interest rate. The second is a Flexible Premium Deferred
Annuity that allows the client to add money into their annuity over time. With both
of these annuities, you can access a portion of your funds in the early years without
a charge.
The third is a Single Premium Immediate Annuity where the client gives Sons of
Norway a sum of money, and in turn, Sons of Norway will pay the client a series of
payments based on whatever payout option is chosen. Examples of these options
are getting an income for life, a specifi c period of time and a joint payout.
Tips on
Annuities
« Annuities are a " sleep-wellat-night
account. " It's very, very
stable and predictable. There are
no surprises. What they promise
you is what they deliver and that
resonates with lots of people.
« It can be a good choice for
someone that has rainy-day
money that can be tucked away
with a competitive return. You can
do signifi cantly better than the
interest rates banks pay and, unlike
a certifi cate of deposit that can't
be interrupted until it matures,
you can have some access to
annuities.
« If the stock market takes a
dip, younger people have time to
recoup their losses. Annuities are
appealing to seniors who can't
sustain that volatility and may be
concerned about outliving their
resources.
" Sons of Norway annuities also feature a nursing home rider where owners of
policies of $10,000 or more can access their money with no surrender charges if it
is needed to pay for nursing home care, " says Carlson.
Just how much to put into annuities depends on your fi nancial situation, age and
health situations, says Marti Brown, a Financial Benefi ts Counselor in Tacoma,
Wash. Annuities can be part of a diverse portfolio of savings and investments, likely
not taking up much more than half of an individual's resources, she advises.
With Sons of Norway, clients can purchase the products up to age 90, says
Brown. Clients can " ladder " their annuities and have one that is deferred and
allowed to grow, while another is tapped as an income stream (and access to the
principle ends).
For people who do not have a pension or have lost value in their 401(k),
annuities can be like a self-funded pension where you can turn on the stream to
create a predictable monthly income structure. " Annuities are good for people who
want and need stability and a conservative approach to their money, " says Brown.
« If a person with an annuity
dies, that account has a named
benefi ciary who can receive the
money without going through
probate. You can be very clear
what your intentions are with an
annuity and it is less likely to be
overturned.
-Marti Brown, FBC
Tacoma, Wash.
For a complimentary
consultation with your
Sons of Norway Financial
Benefi ts Counselor, visit
sonsofnorway.com.
sonsofnorway.com VIKING NOVEMBER 2015 11
Sons of Norway Annuities
What product is right for you?
Flexible Premium Deferred Annuity:
Lets you save for retirement on a taxdeferred
basis, with a fl exible premium and
the option to make additional payments at
any time.
Single Premium Deferred Annuity:
Lets you save money for retirement and
other fi nancial needs on a tax-deferred
basis while making a one-time, minimum
premium deposit.
Single Premium Immediate Annuity:
Provides a fi xed monthly payment in
the future, with the option of a regular
payment you can't outlive.
http://www.sonsofnorway.com http://www.sonsofnorway.com
Viking Magazine - November 2015

Table of Contents for the Digital Edition of Viking Magazine - November 2015
