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.
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. 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. Transfer from LGIA will reduce the retirement income benefits.
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 date of birth input in the calculator. Please see the contract for current purchase rates.
The Total Annual Benefit at Retirement is dependent on the purchase rate and amount of contributions and your actual results could vary. 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.
Lifetime Guaranteed Income Account (LGIA) is only offered through contracts with United of Omaha Life Insurance and not available in the state of New York.