Retirement planning
A single premium deferred annuity for the conservative saver near retirement
The one product Pro Health Plans places that is not health coverage: a fixed, single-premium annuity, written for someone financially conservative who is at or approaching retirement age.
Chapter 01
Who this is actually for
A single premium deferred annuity is not for everyone Pro Health Plans works with. It is written for a financially conservative senior, or someone approaching retirement age, who wants a fixed place to put a lump sum rather than a product built for growth through market risk.
If that is not you, this is not the product to start with. Mike will tell you as much directly rather than fit you into something that does not match how you actually want your money to sit.
A brass desk clock and a closed leather folder on a writing desk in a quiet sitting room, late afternoon light.
A high guaranteed rate and a short surrender period
The annuity is built around a high guaranteed interest rate and a short period of surrender penalty, compared with the longer lock-in terms that are common elsewhere with this kind of product. Mike can walk you through the actual rate and the actual surrender schedule currently on offer when you talk with him directly, since figures like that move and nothing here substitutes for that conversation.
What stays constant is the structure: a single premium goes in, it is deferred rather than paid out immediately, and it earns at a guaranteed rate for a shorter surrender window than you would typically expect from this kind of product.
Chapter 03
How this sits beside a health plan, not instead of one
This annuity does not replace a Health Saver Plus III policy or any other health coverage Pro Health Plans places. It sits beside one, as a separate, fixed savings product for people who already have their health coverage settled and are now thinking about where a lump sum goes next.
If you are weighing this against a health plan decision, talk to Mike about both at once. He places both kinds of coverage and can tell you honestly whether the annuity fits your situation now or whether it is better to revisit once your health coverage is settled.
Pro Health Plans. Pro Health Plans is owned and operated by a group of licensed, independent insurance agents who have met the financial and ethical standards set by New Era - Philadelphia American Life Insurance Company. Pro Health Plans has also completed the licensing standards set by each state in which we engage the insurance business. Call (610) 529-1106.
Everything else in this binder is health coverage. This annuity is not: it is a savings product, and Mike places it alongside a health plan rather than in place of one, for clients who are ready to think about both at once.