Guaranteed income for life
MEMBERS® Single Premium Immediate Annuity and MEMBERS® Future Income Annuity issued by CMFG Life Insurance Company
Let’s get started
First, remember that income annuities are retirement income insurance products. That means, regardless of the payment option you choose, your payment will be composed of three parts: principal (a portion of original purchase payment), interest (earnings on that payment) and a longevity credit (the “insurance component”).
The size of the insurance component will be based on the length and strength of the guarantee you choose. In insurance terms, the less risk you want — the longer and stronger you want your guarantee — the less you’ll receive each month in payment. And vice versa.
What lifetime income looks like
Annuities
For most of us, the retirement landscape looks a lot different than the one our grandparents expected. We’re faced with new risks and new realities.
Growth with risk control and access to income are key components to achieving
a comfortable, confident retirement.
The retirement landscape
Now or later, it's income for life
Guaranteed income can help your plans
Guaranteed income can help your plans
For most Americans, the road to retirement is founded on three pillars.
Single Premium Immediate Annuity
Both the Single Premium Immediate Annuity (SPIA) and the Future Income Annuity (FIA) provide you with a guaranteed income stream based on annuity payout options and benefits you choose. The major difference is the Single Premium Immediate Annuity provides income today whereas the Future Income Annuity provides income at a set time in the future.
Now that you’re nearing retirement or have already retired, you have some thinking to do. You can map out all the great adventures you’re going to have — or that second career you’re going to embark on.
You also have some very important decisions to make regarding your retirement savings. How do you ensure the hard work you’ve done turns into the plans you are making?
Don’t worry. Despite what you might think, there are guarantees in life. Enjoy a retirement income with options you can never outlive with the MEMBERS Single Premium Immediate Annuity or Future Income Annuity (Deferred Income Annuity). Both allow you to convert a portion of your savings into a guaranteed income stream that you design to fit your specific needs, whether you continue to work or have a more traditional retirement.
For a life well lived and the future you have in mind — guaranteed retirement income. With no surprises.
It’s time to return confidence to retirement
Now or later, it's income for life
Guaranteed income can help your plans
This is a hypothetical representation and does not indicate or represent actual guaranteed future values.
As of December 31, 2022, financial records of CMFG Life Insurance Company's parent, CUNA Mutual Holding Company, indicated:
Highly rated,
highly respected
$39.3B
$41.3B
$2.0B
in liabilities
in assets
in policyholder surplus
A
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A.M. Best Company
Third-highest rating of 16,
affirmed December 2022
A.M. Best Company, Moody’s Investors Service,
and S&P Global are credit rating organizations serving the insurance and other financial service industries. Ratings reflect the opinion of the relative financial strength and operating performance of
the company. These ratings are subject to change. Investors should monitor ratings and financial strength of TruStage while they hold a contract.
We’re proud of our financial strength ratings. They’re a sign of our long-term ability to deliver on our commitments
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Take control of your retirement journey.
Take this information with you
All guarantees are backed by the claims-paying ability of CMFG Life Insurance Company.
Withdrawals may be subject to surrender charges. Withdrawals of taxable amounts are subject to ordinary income tax, and if taken before age 59½ may be subject to a 10% federal tax penalty. If you are considering purchasing an annuity as an IRA or other tax-qualified plan, you should consider benefits other than tax deferral since those plans already provide tax-deferred status. The company does not provide tax or legal advice. Contact a licensed professional.
MEMBERS® income annuities are issued by CMFG Life Insurance Company, 2000 Heritage Way, Waverly, IA, 50677. MEMBERS® is a registered trademark of CMFG Life Insurance Company. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All contracts and forms may vary by state and may not be available in all states or through all broker/dealers. Base Policy Form: SPIA: 2008-SPIA-I, 2008-SPIA-DB, 2008-SPIA-LO,2008-SPIA-DB(OR),
2008-SPIA-I (OR), 2008-SPIA-LO(OR), FIA: ICC13-DIA, ICC13-DIA(B), 2013-DIA.
MFA, SPIA-2475705.5-1222-0724 © TruStage
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The retirement landscape
It's time to return confidence to retirement
What lifetime income looks like
Lifetime income guaranteed for you and the ones you love
Highly rated, highly respected
Ratings apply to CMFG LIfe Insurance Company and its subsidiaries, MEMBERS Life Insurance Company and CUMIS Insurance Society, Inc.
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Financial markets
Personal factors
Market volatility
Low rates
Longevity
Rising costs
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Rising costs
•
Inflation steadily reduces the purchasing power of a retirement nest egg.
Bureau of Labor Statistics, Average Price Data (in U.S. Dollars), https://www.bls.gov/charts/consumer-price-index/consumer-price-index-average-price-data.htm, 2023 January.
Jan-03
Jan-23
Gasoline, price per gallon, unleaded
$1.47
$3.45
Milk, per gallon
$2.69
$4.20
Ground beef, per pound
$2.13
$4.64
Eggs, per dozen
$1.18
$4.82
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Longevity
•
Most of us are living longer, more active lives, but often without the pension plans of the past.
•
Longevity requires more health care savings
7/10 adults turning 65 today in the U.S. will require long-term care during their lives.
3
21%
of retirees cite health problems as the reason for retiring earlier than planned.
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•
Longevity is one of the biggest risks faced by those planning retirement. How much money do you need, and for how long?
3 LongTermCare.gov, longtermcare.acl.gov, “The Basics, How Much Care Will You Need,” 2023, February 7.
4 2022 Spending in Retirement Survey: Understanding the Pandemic’s Impact, https://www.ebri.org/docs/def…dinginret-6oct22.pdf, 2022, October 6.
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Low rates
•
Interest rates can impact so-called “safe” investments like bonds and CDs, and that may make it difficult to earn a reasonable return.
National Rates and Rate Caps. FDIC.gov.
fdic.gov/resources/bankers/national-rates/2023-02-21.html (2023, February 21).
There are distinct differences between annuities and certificates of deposit or other guaranteed fixed income instruments sold through a credit union or bank. Most certificates are considered short-term investments, while annuities are considered long-term investments. The investment in a certificate is insured by the federal government, either through the FDIC or NCUA. Any guarantees provided by an annuity are backed by an insurance company.
National six month CD rates 2023
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Market volatility
•
We’re part of a growing global investment marketplace that seems wildly unpredictable.
•
Over time, the markets go in cycles — sometimes up, sometimes down. There are both day-to-day fluctuations and long-term trends.
S&P 500 Price Index
See graph in more detail
S&P 500 Price Index
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Compustat, FactSet, Federal Reserve, Refinitiv Datastream, Standard & Poor’s, J.P. Morgan Asset Management. Dividend yield is calculated as consensus estimates of dividends for the next 12 months, divided by most recent price, as provided by Compustat. Forward price-to-earnings ratio is a bottom-up calculation based on IBES estimates and FactSet estimates since January 2022. Past performance is not indicative of future returns. Guide to the Markets — U.S. data are as of 2023, January 31.
Insurance | Investments | Technology
MEMBERS Income Annuities are issued by CMFG Life Insurance Company, a stock life insurance company
Next: Return confidence to retirement
Income starting now
Risk
protection
Income
for life
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Next: Lifetime income options
(Excellent)
Moody’s Investors Service
A2
Sixth-highest rating of 21,
affirmed March 2021
S&P Global Ratings
A+
Fifth-highest rating of 21,
affirmed September 2022
Price data 2003-2023
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White bread
$1.04
$1.89
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You’ve paid in for your entire working career, but Social Security is designed as a safety net, not as an all-in-one retirement plan. For most Americans, Social Security is a valuable supplement to other sources of retirement funds.
Many Americans don't have a pension plan from an employer and Social Security may not replace pre-retirement income. An income annuity allows you to take control and establish your own retirement income plan. It can provide you with a guaranteed income source to round out your retirement plans by providing a predictable, steady paycheck.
Not a deposit • Not guaranteed by any bank or credit union • May lose value • Not FDIC/NCUA insured • Not insured by any federal government agency
Whatever your situation and needs, your income annuity can be structured to fit them. It’s your money. How would you like to receive it?
Lifetime income guaranteed for you and the ones you love
Income starting later
With SPIA, your money goes to work right away in the form of guaranteed lifetime income options.
With FIA, your money is deferred, allowing for a higher guaranteed lifetime income when you’re ready to use it.
Future Income Annuity
Now or later, it’s income for life
A personal story
Social Security:
401(k)s and pensions make up a majority of Americans’ retirement accounts. While all can provide a source of income, they don’t always provide a source of income you can’t outlive.
Employer plan:
This might be in the form of a savings account, CDs or other investments you've made.
Personal savings:
Social Security
Employer plan
Personal savings
Retirement
Male age 65, a hypothetical $7,000 purchase payment. Assumes single life fixed income payment for life only.
Interest
Principal
Longevity credits
Next: What lifetime income looks like
All guarantees are based on the claims-paying ability of the issuing company.
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Joint Life Fixed Income
with 100% to survivor
Payment type
Length of guarantee
Strength of benefits
Single Life Fixed Income
Payments are fixed and guaranteed for your lifetime.
Guaranteed single premium immediate income annuity payment options
Components of lifetime income payout
Joint Life Fixed Income
with 50% to survivor
Fixed Installment Income
Provides the highest initial income of all the lifetime options.
Payments are fixed and guaranteed for the lifetime of both you and a survivor.
Provides income for both you and a survivor so you can enjoy retirement to the fullest.
Payments are fixed and guaranteed for two lifetimes.
Offers income for two lifetimes, with income to the survivor matched to anticipated lower expenses.
Payments are fixed and guaranteed for a defined period of time.
Offers you guaranteed income for a selected number of years. Payments can be monthly, quarterly, semi-annually or annually.
This is a hypothetical representation and does not indicate or represent actual guaranteed future values.
Guaranteed future income annuity payment options
Life with Cost of Living Adjustment (COLA)
Joint Life
with 100% to survivor
Payment type
Length of guarantee
Strength of benefits
Life Only
Joint Life with COLA
with 100% to survivor
Payments are fixed and guaranteed for your lifetime.
Provides the highest initial income of all the lifetime options.
Payments are guaranteed for your lifetime.
Gives you assurance that your retirement income will help keep pace with rising costs.
Payments are fixed and guaranteed for the lifetime of both you and a loved one.
Provides income for both you and a survivor so you can enjoy retirement to the fullest.
Payments are guaranteed for two lifetimes and designed to keep pace with inflation.
Provides assurance to you and a surviving loved one that your income will increase as the cost of living goes up.
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Next: Highly rated, highly respected