FIRST ADVANTAGE FOR INCOME — A Single Premium Immediate Annuity
Turn Retirement Assets Into Retirement Income
FIRST ADVANTAGE FOR INCOME is a tax advantaged immediate annuity that provides you with a secure way to turn your retirement assets into guaranteed1 retirement income. When you're preparing for the future, the income from a FIRST ADVANTAGE FOR INCOME immediate annuity can be an important part of your financial plan.
Purchasing an immediate annuity only requires a one-time premium payment. In return for this single premium, you are guaranteed1 lifetime income. Payments can be scheduled to supplement income from social security, a pension or a 401(k) plan.
FIRST ADVANTAGE FOR INCOME gives you many advantages:
- Security — A FIRST ADVANTAGE FOR INCOME annuity provides security by guaranteeing an income you cannot outlive.
- Safety — Your payments are backed by the assets and financial strength of First Investors Life Insurance Company.
- Stability — With FIRST ADVANTAGE FOR INCOME, your annuity payments are not subject to market fluctuations.
- Tax Advantages — If your annuity is funded with pre-tax dollars, your tax liability will be spread out over the years you receive payments. If your annuity is funded with after-tax dollars, only a part of each benefit payment is considered interest and is taxable. The remaining part of the benefit payment is considered a return of your principal and is not taxable. Once you have received your entire premium, future payments made thereafter will be fully taxable. Please consult your tax advisor for additional information.
How Can FIRST ADVANTAGE FOR INCOME Benefit You?
Your generation will likely live longer than any previous generation. When you purchase FIRST ADVANTAGE FOR INCOME, you are assured of an income for the rest of your life, and have a tax-advantaged supplement to other retirement income, such as social security or pension benefits.
Choose the Payout Option that Meets Your Needs
Annuity benefits are determined by the amount of the single premium payment, your age, gender and the annuity payment option you choose. There are several different annuity payout options available to you.
- Guaranteed Period Option: This option provides benefits that are guaranteed for a certain period of time (e.g., 10 or 20 years), or for the rest of the annuitant's life—whichever is greater. If the annuitant dies before the guaranteed period has ended, the remainder of the payments for any guaranteed period will be made to his or her beneficiary.
- Single Lifetime Income Option: This option pays the highest annuity benefit payment since there is no guaranteed number of payments. Payments continue for the life of the annuitant and end upon his or her death.
- Joint and Survivor Option: This option provides guaranteed payments over two lives—the annuitant and joint annuitant—which makes it a popular option for spouses. Payments cease after the death of both joint annuitants. The Joint and Survivor Option may be combined with a Guaranteed Period Option, which means if both annuitants die within the guaranteed period, a beneficiary would receive the remainder of the payments.
Once your annuity is issued, monthly payments can begin within as little as 30 days. Payments can be received monthly, quarterly, semi-annually or annually.
Immediate annuities have no cash or surrender value. There is no refund of the purchase payment once the “Free Look” period has expired after annuity payments have begun. The only payments made after the annuitant dies are any remaining guaranteed payments based on the annuity payment option chosen. An immediate annuity is not a savings account or an investment such as a stock, bond or mutual fund.
Neither First Investors Life Insurance Company nor its affiliates provide legal, tax or estate planning services. Should you require such services, you should consult a legal, tax or estate planning professional.
The FIRST ADVANTAGE FOR INCOME annuity is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
FIRST ADVANTAGE FOR INCOME is approved in these states with the form number listed below:
| SPIA-1 (01-09)(AL) | SPIA-1 (01-09)(AZ) | SPIA-1 (01-09)(AR) |
| SPIA-1 (01-09)(CA) | SPIA-1 (01-09)(CT) | SPIA-1 (01-09)(DE) |
| SPIA-1 (01-09)(DC) | SPIA-1 (01-09)(FL) | SPIA-1 (01-09)(IL) |
| SPIA-1 (01-09)(MS) | SPIA-1 (01-09)(MO) | SPIA-1 (01-09)(NV) |
| SPIA-1 (01-09)(NJ) | SPIA-1 (01-09)(NM) | SPIA-1 (01-09)(ND) |
| SPIA-1 (01-09)(OR) |
In addition, the following states are approved as form number ICC09-SPIA-1 (01/09):
| CO | GA | ID | IN | IA |
| KS | KY | LA | ME | MA |
| MD | MI | MN | NE | NC |
| NH | OH | OK | PA | RI |
| SC | TN | TX | UT | VT |
| VA | WA | WV | WI | WY |
1 All guarantees available under FIRST ADVANTAGE FOR INCOME are subject to the financial strength and claims-paying ability of First Investors Life Insurance Company.
