The Single Premium Deferred Annuity, SPDA 2000, from Ameritas Life Insurance Corp. is designed to help grow your assets and then provide a steady stream of income when you retire. Guarantees depend on the claims-paying ability of the issuing company. SPDA 2000 provides:
When you apply for your SPDA 2000, you choose to lock in your initial interest rate for one, three or six years. After the initial rate period, your SPDA renews at competitive interest rates based on current economic conditions.
Earnings in annuities grow tax-deferred, which means you won’t pay taxes on earnings in your SPDA 2000 until you withdraw your money, usually at retirement. You benefit from this tax-deferred compounding because the earnings that would be lost to taxes each year remain in the annuity to generate additional earnings.
Your principal is protected with SPDA 2000, based on the claims-paying ability of the issuing company. If you decide to terminate your contract, we guarantee that you will receive every dollar of your initial investment or your cash surrender value, whichever is greater, adjusted for previous withdrawals.
When you are ready to start receiving periodic payments from your SPDA 2000, we can automatically deposit current interest earnings to your checking account or, you may decide to annuitize. You choose from a payment schedule, which could be income for life. By receiving annuitized payments, you also spread any income tax liability over a longer period of time.
You have flexible access to the money inside your SPDA 2000. You may withdraw up to 10% of the total account balance each contract year with no company surrender charge. Six years after the issue date of your annuity, you may withdraw any amount without surrender charge. Diminishing surrender charge schedule: Contract year 1: 7%, year 2: 6%, year 3: 5%, year 4: 4%, year 5: 3%, year 6: 2%, year 7+: 0%. In the event of the owner’s death, the surrender charge is waived. Keep in mind that withdrawals from tax-deferred annuities are taxed as ordinary income to the extent of earnings. For individuals under the age of 59½, IRS penalties may apply.
Your insurance or financial representative can provide more information and assist you in obtaining SPDA 2000 to help meet your needs. For more information see our product brochure.
SPDA 2000 (Form 2701) is issued by Ameritas Life Insurance Corp.