Use Your Annuity to Leave a Legacy

Use Your Annuity to Leave a Legacy

Mar 01, 2019


Most people who own annuities understand they are great savings tools. What they might not realize is the income or pay-out options annuities also offer. The power of these options is the potential to guarantee income for the rest of your life and even for the rest of your grandchild’s life. How about guaranteeing both?

What if you could gift your grandchild a certain dollar amount every year on their birthday, even after you have passed? Through the joint annuity payout option on your deferred annuity, or on an immediate annuity, you can do just that!

For example: Grandpa Joe would like his grandson Eric (age 8), to receive $500* on his birthday for the rest of Eric’s life. To fund this, Grandpa Joe (age 75), would choose an annual joint annuity payout from his Western Fraternal Life annuity for $500 naming himself and Eric as the joint annuitants. This would take approximately $17,385.74.*

Joe would receive an annual payout of $500 as long as he lives. He can use it as additional income or provide a gift to Eric each year.

When Joe passes, the $500 annual payment would continue to be paid to Eric* for the rest of Eric’s life.

If Grandpa Joe lived to age 90 he would receive income for 15 years equaling $7,500. If Eric also lives to 90, he would receive income for 67 years equaling $33,500. The total payout on the initial $17,385.74 would be $41,000!

Call your Western agent and they can help you decide if this is the right approach for you and your family. Or call Western’s Sales and Conservation Consultant Martin Menke directly at (877) 935-2467.

Annuity deposits and income payouts will vary based on age and gender of the annuitants, a minimum of $10,000 is required.
*Annuity deposit and payout based on Western Fraternal Life’s immediate annuity on 75 year-old and 8 year-old male annuitants.
Maximum issue age 85.


Martin Menke


Product Sales and Conservation Consultant

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Call 877-935-2467 to speak with a Western Fraternal Life Representative.