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Deferred Income Protector

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Product Highlights

A deferred income annuity that can provide you with the financial security of a guaranteed income that can begin 2 to 40 years in the future.

Customer Needs

Stability of guaranteed, reliable income payments that can last a lifetime
A product that acts as a personal pension plan
Ability to defer income payments until much later in life

Qualified Longevity Annuity Contract (QLAC)

A QLAC is a deferred income annuity that pays a guaranteed income designed to begin at an advanced age, such as 80 or 85.

Learn more about QLACs

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Issue Ages:

40-75 for non-qualified and qualified longevity annuity contract (QLAC) money
40 to 71 for qualified money

Income Start Date

Between 2 and 40 years from purchase date
Income start date can be changed once after purchase date
The date must be 2 years after the most recent purchase payment and can only be moved 5 years earlier or 5 years later than the date originally selected

Policy Minimum

Minimum initial purchase payment: $5,000
Minimum additional purchase payment: $2,000
Maximum for Qualified and Non-Qualified: $1 million
Maximum purchase payments for QLACs: $200,000

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Additional Features

Income Payment Advance - can be elected up to three times and only is payments are received on a monthly basis (available only on Non-Qualified contracts)
Annual Increase Option - increase in annuity payments by either 1,2 or 3 percent beginning with the second year of payments
Income Start Date Adjustment - can be changed one time
Subsequent Options - subsequent contributions can be added at any time, up to 2 years before the income start date

Other Information

No surrender options once the consumer begins receiving payouts
Refund of purchase payment available during a free-look period (as required by state laws)
Deferred Income Protector FAQs

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Payout Options

Single Lifetime Only
Single Lifetime Income with Cash Refund
Single Lifetime Income with Installment Refund (not available for QLAC)
Single Lifetime Income with Period Certain (not available for QLAC)
Joint Lifetime Income Only
Joint Lifetime Income with Cash Refund
Joint Lifetime Income with Installment Refund (not available for QLAC)
Joint Lifetime Income with Period Certain (not available for QLAC)

Death Benefit

Varies based on payout option selected

Licensing Requirements

State insurance license for life products
Appointed with United of Omaha
Anti-money laundering (AML) training

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