Builder Modular Annuities
Your future, your choices.
Liberty Life's Freedom Series Builder Annuity1, a single premium deferred annuity, works much the same way. It offers you transparency and choice, allowing you to build the coverage that's right for you.
Unlike typical annuities that come prepackaged with options you may not need, the Builder Annuity lets you choose the features that are important to you. This means you only pay for the features that you want—nothing more.
How does it work?
Just like a house, you start with a foundation. The foundation of your Builder Annuity is your one-time premium payment, which will earn tax-deferred interest at an annual interest rate. Once the foundation is laid, you can add modular features to your annuity. Purchasing one or more of the modules will lower your interest rate while building the coverage that's right for you.
- Return of premium guarantee - Upon surrender you are guaranteed to receive no less than the premium paid less prior withdrawals.
- Penalty-free withdrawals - After the first year, you can withdraw 10% of your beginning-of-year account value per year. A withdrawal of 5% is allowable without selecting this module.
- You or your spouse becomes ill and requires a qualifying medical stay for 45 days out of any continuous 60-day period
- You or your spouse is diagnosed as terminally ill
- You or your spouse becomes unable to perform two of the six activities of daily living
Life insurance and annuities issued by:
Liberty Life Assurance Company of Boston
Home office: Boston, Mass. Service center: Dover, N.H.
2 May vary by state. After the first year, up to 5% (10% if module is selected) of the beginning of the year value may be withdrawn without withdrawal charges. Withdrawals are subject to tax on any gain in the contract and, if taken before age 59½, may be subject to a 10% federal tax penalty. In addition, withdrawals will reduce the death benefit and account value. Clients should consult a tax advisor.
3 Does not apply to pre-existing conditions. May not be available in all states.