Lifetime Guaranteed Income Account
While you probably understand the importance of saving for retirement, you may not be sure how much income your savings actually will provide. When you invest in the Lifetime Guaranteed Income Account, your savings are displayed as known guaranteed income. Use this calculator to project how much annual retirement income your current balance and future contributions to the Lifetime Guaranteed Income Account will provide.
Information about your results
The calculator is an interactive educational tool intended to help you estimate how much annual income you may receive at retirement. Based on the questions you answered, the summary of results displays options for a 20 year certain and life fixed income annuity.
The assumptions that we made on your behalf are:
Each contribution you make into a LGIA buys a specific amount of guaranteed annual income, which you will begin receiving at age 65. Each contribution buys additional guaranteed retirement income and any withdrawals proportionally reduce the guaranteed retirement income. This illustration is based on the purchase rate available today for the day of birth input in the calculator. Please see the contract for current purchase rate.
The calculator displays results as an annual payment that will continue for the period outlined above.
The Total Annual Benefit at Retirement is dependent on the purchase rate and amount of contributions and your actual results could vary. Rates are subject to change. The estimates do not reflect the impact of taxes. This is not a binding agreement but should be used for informational and illustrative purposes only. Should you have questions in regard to the LGIA option, please contact your Mutual of Omaha Representative.
All guarantees are based on the claims paying ability and financial strength of United of Omaha Life Insurance Company. Certain restrictions apply to transfers in and out of the Lifetime Guaranteed Income Account (LGIA). If funds are moved to another investment option, employees will lose the guaranteed retirement income feature. Direct transfers between the Guaranteed Account and the Lifetime Guaranteed Income Account are not permitted. Transfers from LIGA will reduce the retirement income benefit.