Principal Income Annuity Review & Free Quotes
The number of years spent in retirement is getting longer with each generation. There’s a possibility of living 20 to 30 years past retirement age.
Will you have enough money to last the 20 to 30 years you could spend in retirement?
For a 65-year-old man or woman retiring today, there’s a 50% chance he or she will live to age 85 or beyond.**
With the chance of spending that many years in retirement, it’s important to know that your income is secure.
**Annuity 2000 Mortality Table.
Get a Paycheck for Life
You’ve worked hard. You’ve planned. And you’ve saved. Now, make sure your savings last through your retirement. If you live longer than expected, or if the markets perform poorly, you could run out of money.
Convert part of your savings into a reliable, steady income stream with Principal Income Annuity.
Retirement Income that can Last a Lifetime
With Principal Income Annuity, you can get income for life or however long you choose. In exchange for at one-time premium payment, you get peace of mind knowing you won't outlive your savings. Think of it as a paycheck for life. With its guaranteed stream of income, you can enjoy your hard-earned retirement knowing your normal, monthly expenses can be managed - no matter how long you live or how the financial markets perform. An you have access to your money if you need it.
With Principal Income Annuity, you:
1. Can receive income monthly, quarterly, semiannually or annually.
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2. Have access to optional riders that allow you to increase your income payments to help keep up with inflation in exchange for a lower starting payment amount.
3. Have access to your money. You can take a onetime withdrawal of up to 100% of the discounted value of the remaining guaranteed payments anytime between the first contract anniversary and the end of your guarantee period.*
4. Don’t have to worry about any market fluctuations or making investment decisions, though the potential returns you receive may be less than the return you can get from equity investments.
5. Spread your tax liability over the life of the contract.
6. Don’t pay any annual administrative charges.
7. Can choose from a full range of benefit options. You may not change your benefit option once the payouts begin.
* Not available with all benefit options. Not available in all states.
Best of all, you can feel more secure knowing your annuity is backed by the claims-paying ability of Principal Life Insurance Company, one of the leaders in the insurance and financial services industry.
Please keep in mind Principal Income Annuity is not a liquid investment. Only a one-time withdrawal of up to 100% of the discounted value of the remaining guaranteed payments may be allowed.