Adding information about the 1-year plan. The annuity page will go as:

Annuities are contracts whereby you agree to pay a lump-sum payment or periodic payments in return for the promise of a regular income for life or for a defined period. Annuities offer tax-deferred shelter for hard-earned dollars, accumulating interest at competitive rates. As such, they are an excellent choice for individuals or couples who wish to secure funds for retirement.

Luso offers various Annuity plans with 1, 5, and 7-year duration contracts.

Single Premium Deferred Annuity
By putting off, or deferring payments from the annuity, you allow your funds to grow over time This is a good choice for people who have a large sum of money available before retirement. Money used to purchase a Single Premium Deferred Annuity often comes from an inheritance or a lump-sum distribution from a pension plan.

Flexible Premium Deferred Annuity
With this annuity you can make a series of payments over time. As you reach your golden years, you may elect to receive a monthly income for the rest of your life. This type of annuity is called flexible because it lets you decide how often you want to add funds to your annuity and how much to add. The more you put in and the sooner you start, the more your annuity will grow.

Single Premium Deferred 1-Year Annuity
Single Premium Deferred 1 Year Annuity will have only a 1-year surrender charge, allowing members to choose an annuity that more closely suits their needs.

• Issue Age: 0 to 90
• Minimum Issue: $5,000
• Maximum: $50,000.00
• Credited Rate: 1.5%
• Surrender Charges: 1-year surrender charge period: 7%, 0% thereafter
• Partial withdrawal Rates: There will be no 10% free option due to the short surrender charge period

** Luso-American Financial or its agents do not offer tax advice, please consult your tax advisor for information specific to your situation. **