Most people use annuities as supplemental investments in combination with other investments such as IRAs, 401(k)s, or other pension plans. Earnings in annuities grow and compound, tax-deferred, which means that the payment of taxes is reserved for a future time. Insurance companies that offer annuities pay a specific amount over a predetermined period of time either as an immediate annuity (beginning immediately) or as a deferred annuity (after an accumulation phase). The owner controls incidents of ownership in the annuity, has the right to the cash surrender value, and can also assign the policy and make withdrawals. The investor, or annuity owner, is usually the policyholder and is often also the annuitant (the beneficiary (or beneficiaries) of the annuity whose life expectancy and age are used to determine the terms of the annuity). In many cases, this sum is paid annually over the duration of the investor's life. In the U.S., an annuity is a contract for a fixed sum of money usually paid by an insurance company to an investor in a stream of cash flows over a period of time, typically as a means of saving for retirement. Metropolitan Tower Life Insurance Company (MTL), 5601 South 59th St.Related Annuity Payout Calculator | Retirement Calculator Metropolitan Life Insurance Company (MLIC), 200 Park Ave. Contact your Metropolitan Tower Life Insurance Company representative for more information. Metropolitan Tower Life Insurance Company annuity products may not be available in all states. You should confer with your qualified legal, tax and accounting advisors as appropriate. Metropolitan Tower Life Insurance Company, its agents and representatives may not give legal, tax or accounting advice and this document should not be construed as such. Contact your MetLife representative for more information.Īny discussion of taxes is for general informational purposes only and does not purport to be complete or cover every situation. MetLife annuity products may not be available in all states. MetLife, its agents and representatives may not give legal, tax or accounting advice and this content should not be construed as such. Employee Respondents were screened to be planning to retire in the next five years or beginning to play retirement, be 56-75 years of age and have access to a 401K plan through their employer. Employee research was conducted between February 5-10, 2021. On behalf of MetLife, CITE Research (conducted an online survey among 600 employees nearing retirement. Employer respondents were screened to work in HR, be very involved in decisions about the company’s retirement benefits, and work at a company that offers a 401K plan. Employer research was conducted between February 5-25, 2021. On behalf of MetLife, CITE Research (conducted an online survey among 200 HR decision-makers.
Employee Benefit Trends Study, 2021ģ MetLife’s Evolving Retirement Study, March 2020 Ask a MetLife representative for costs and complete details.ġ All guarantees are based on the claims-paying ability and financial strength of the issuing MetLife company.Ģ 19th Annual MetLife U.S.
Like most group annuity contracts, MetLife group annuities contain certain limitations, exclusions and terms for keeping them in force. NY, NY 10166 or Metropolitan Tower Life Insurance Company (MTL), 5601 South 59th St., Lincoln, NE 68516, two wholly owned subsidiaries of MetLife, Inc. ** Group annuity contracts can be issued by Metropolitan Life Insurance Company (MLIC), 200 Park Ave.
* All guarantees are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company or Metropolitan Tower Life Insurance Company.
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