If you’re looking for ways to save more for retirement or generate reliable income in retirement, consider an annuity. Low-cost annuities from Schwab provide the opportunity for tax-deferred growth and, when you retire, the option of guaranteed income to last as long as you wish—even for life.1
Get exceptional value with a low-cost variable annuity.
Save money with a variable annuity from Schwab:
- Variable annuities at Schwab are priced 30%–50% lower than the industry average.2
- Clients switching to a variable annuity at Schwab save an average of $488 per year.3
- There are no surrender fees, so you can enjoy flexibility if your situation changes.
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You can also call a Schwab Annuity Specialist at 888-311-4889.
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1. The guarantee depends on the claims-paying ability and financial strength of the issuing insurance companies. Schwab does not provide any insurance guarantees. Withdrawals of earnings are subject to ordinary income tax and, if taken prior to age 59½, may be subject to a 10% federal tax penalty in addition to applicable income taxes. Any excess withdrawals will significantly and permanently reduce all future withdrawal amounts.
2. Source: Morningstar survey of 1,880 variable annuities on June 30, 2012, found an industry expense average of 1.34%. The percentage savings does not include fees associated with the underlying variable portfolios.
3. Source: July 2006 to June 2012 Schwab survey of variable annuity exchanges from a non-Schwab variable annuity to a Schwab variable annuity. The annual savings amount of $488 reflects the average differential in asset-based annuity fees (typically the mortality and expense risk and administrative charges) between the clients’ existing variable annuities and any of Schwab’s variable annuities assuming a $100,000 purchase amount and no subsequent additions or withdrawals. The savings figure does not reflect any other charges imposed by the existing annuity carrier, including surrender charges which, if included, would reduce or eliminate any potential savings. The actual amount you may save annually will vary based upon the difference in annuity fees, underlying portfolio fees, subaccount performance, amount transferred, and any subsequent additions or withdrawals.
Carefully consider differences in features, costs, charges, expenses, services, company strength, potential tax consequences, and other important factors prior to initiating an exchange.
Variable annuities are sold by prospectus only. Before purchasing an annuity, you should carefully read the prospectus and consider its investment objectives and all the risks, charges, and expenses associated with the annuity and its investment options. For this and other information, call Charles Schwab & Co., Inc. at 888-311-4889 to request a prospectus, or you may view one online at Schwab.com.
Charles Schwab & Co., Inc., a licensed insurance agency, distributes certain insurance and variable annuity contracts that are issued by insurance companies not affiliated with Schwab. Not all annuity contracts are available in every state.
The account value of a variable annuity may be more or less than the premiums paid and it is possible to lose money.
Variable annuities are subject to a number of fees including mortality and risk expense charges, administrative fees, premium taxes, investment management fees, and charges for additional optional features. Although there are no surrender charges on the variable annuities offered by Schwab, such charges do apply in the early years of many contracts.