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Accounts & Products

Schwab OneSource Choice Variable Annuity™

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Take charge of your retirement with more investment choices, guaranteed income, and protection for your beneficiaries. Schwab puts it all together in this flexible, low-cost annuity.

A variable annuity from Charles Schwab, issued by Great-West Life & Annuity Insurance Company or in New York, by Great-West Life & Annuity Insurance Company of New York (collectively "Great-West Financial®").  

Key benefits

  • Create a personalized tax-deferred growth strategy.
  • Make adjustments as your needs change.
  • Guarantee retirement income for life through annuitization or with an optional Guaranteed lifetime Withdrawal Benefit (GLWB).1
  • Protect money for loved ones, regardless of how the market performs with an optional death benefit.
  • Keep more of your money working, with costs 35-50% lower than average.2 

NOTE: The GLWB is not a contract value and is not available for withdrawal like a cash value. The actual contract value and the death benefit of the Income Segment will decrease with each withdrawal.

Talk to us about annuities.

Visit a Schwab branch or call 888-311-4889 (option 2).

Find a Schwab Financial Consultant near you.

All annuity guarantees are subject to the financial strength and claims-paying ability of the insurer. Schwab does not provide any insurance guarantees.


Get the flexibility to meet changing needs.

The Schwab OneSource Choice Variable Annuity features a dual-segment design (Investment and Income), giving you the flexibility to shift your focus from investment growth to income protection as you approach retirement.³

  • Allocate between segments as your needs change.³

The Investment Segment offers tax-deferred market growth potential with a choice of over 85 investment options from more than 30 fund companies in the Schwab OneSource® program.

You might put more of your money here if:

  • You are well into your working years but still have 10 or more years until retirement.
  • You are looking for a tax-deferred growth opportunity and you are more comfortable with risk.

The Income Segment continues to offer the potential for moderate investment growth through a balanced fund. Additionally, a Guaranteed Lifetime Withdrawal Benefit (GLWB) locks in any market gains and provides for a guaranteed base level of retirement income.

You might put more of your money here if:

  • You are nearing or in retirement.
  • You are looking for protection of your income from market volatility.

It’s important to note that the GLWB does not guarantee investment performance, is not a contract value, and is not available for withdrawal like a cash value. The actual contract value and the death benefit of the Income Segment will decrease with each withdrawal.


Get more information


Brokerage and insurance products: Are not deposits • Are not FDIC-insured • Are not insured by any federal government agency • Are not guaranteed by the bank or any affiliate of the bank • May lose value

Variable annuities are sold by prospectus only. You can request a prospectus by calling 888-311-4889 (option 2) or by visiting schwab.com/annuity. Before purchasing a variable annuity, you should carefully read the prospectus and consider the annuity’s investment objectives and all risks, charges, and expenses associated with the annuity and its investment options.