An annuity is a contract between you and Catholic United Financial. You commit to paying premium payments to your annuity. We commit to provide you a guaranteed minimum interest rate for the life of the contract and a guaranteed source of future income with certain tax advantages (generally at retirement). Growth is guaranteed and your principle is protected from loss. Different types of annuities are available to best fit your situation. Your local Member Advisor can help you select the right annuities for you.
Purchasing an annuity involves an application that asks about the funding sources you will use to make your premium payments. Once accepted, we issue a contract that explains your rights as the owner, how the annuity will provide income once it has matured, and what a beneficiary can expect if you should pass away before the balance is paid out.
Catholic United also offers:
23SPA-1. Catholic United’s IRAs are Individual Retirement Annuities.
*Single Premium Annuity: APY is Annual Payment Yield, subject to change on an annual basis after first year, see contract for guaranteed minimum rate. Minimum deposit of $5,000 required. Maximum issue age is 85. Federal and state penalties may apply on early withdrawals. Withdrawals prior to age 59 1/2 will be subject to government penalties. On a Single Premium annuity, there is a 5-year surrender period.
Flexible Premium Annuity: Annual Percentage Yield subject to change after first year. Federal and state penalties may apply on early withdrawals. On a flexible premium annuity, there is a 5-year surrender period (8%, 7%, 6%, 5%, 4%). $100 Minimum contribution with $1,200 minimum first-year deposit.