We are proud to provide Auto-Owners Insurance Annuities
A nonqualified deferred annuity is one which is not used as part of any qualified retirement plan, Traditional IRA or Roth IRA. Contributions made into a nonqualified deferred annuity are not income tax deductible. However, the amount contributed is not limited to a certain dollar maximum each year, and the earnings of the deferred annuity accumulate on a tax deferred basis.
IRAs are government approved qualified programs to help people plan and save for their retirement years. Many individuals have the option of choosing to invest in a “Traditional” IRA and/or a “Roth” IRA. Auto-Owners uses deferred annuities to fund either of these tax advantaged plans.
Auto-Owners annuities offer a competitive current interest rate and carry a 1.5% minimum guaranteed interest rate. As a bonus, if you have an Auto Owners auto or home policy, along with a $2000 annuity, you can save up to 5% more off your premium.