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  • Qualified Single Premium Deferred Annuity

  • A Qualified Single Premium Deferred Annuity (QSPDA) is an annuity policy that is available to certain people who meet stringent Internal Revenue Service guidelines.

    With a QSPDA, you make a one-time deposit. Your money is placed into an annuity account, where it earns a competitive rate of interest. When you annuitize your account, you receive periodic income payments according to a schedule you select.

    It is one of the best instruments you can have to plan for your financial security during your retirement.

    Take a look at the summary of benefits the Qualified Single Premium Deferred Annuity provides:

    100% Invested
    Every dollar you contribute to your Single Premium Deferred Annuity works for you immediately. With a QSPDA from Farm Bureau Life, you won't have to pay any administrative or maintenance fees.

    Substantial Tax Advantages
    No federal or state income taxes on your earnings and principal until they are withdrawn.

    Reliable, Lifetime Income
    You're guaranteed a specific amount of income, unshaken by economic and market fluctuations, to help you meet your expenses for the rest of your life.

    Immediate Access to Your Money
    You can make withdrawals or take policy loans when you need to. (A nominal decreasing surrender charge may apply to withdrawals.)

    Contact your Farm Bureau Insurance agent for more information on insurance products from Farm Bureau Insurance of Michigan.

    The product information included in the Farm Bureau Insurance of Michigan web site is intended for Michigan residents only, and is neither an offer to sell nor an invitation to purchase any insurance product.

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