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Types of Retirement Plans

Saving for Retirement

Enjoying your future begins with saving today. That’s why Farm Bureau Insurance offers a variety of annuities that protect your contributions and grow for your future. Your agent will help you decide which plan is the best option for you and your family. 

Annuities

Find an Agent Who Can Help

Protect Your Future - Farm Bureau Insurance of Michigan offer annuity policies to keep you and your family protected for years to come.

Coverages

For retirement, annuities often have greater tax advantages than other options like saving accounts. Farm Bureau Insurance offers retirement saving plans for both individuals and for small businesses.

Individual Annuities

You want to protect your retirement. Farm Bureau Insurance of Michigan has a variety of options to help you do just that.   

  • Single Premium: You can use a single sum of money to pay for the annuity.  

  • Flexible Premium: Make contributions to your annuity when you have the funds to do so.  

  • IRAs or Roth IRAs: Eligible individuals or their spouses may make contributions to an IRA or Roth IRA. We also accept transfer and rollovers from eligible sources. 

  • Non-qualified Accounts: Have bank cd’s? Funds from the sale of a house? Or not eligible for life insurance? We can start a Non-qualified annuity for you. Taxes are typically not due until funds are removed from the account.  

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Employer Sponsored Annuities

Your employees are important to you. Help protect their future with one of Farm Bureau’s employer sponsored annuities.  

  • SEP IRAs: Create a way for you to share your company’s profits with your employees while encouraging your employee to create a traditional IRA.  

  • Simple IRAs: Create a matching contribution plan with your employees. Elections can be changed annually. Employers with 100 or fewer employees are eligible for this annuity.  

  • Tax Deferred Annuities (TDAs): These retirement plans are available for churches, schools, and governments. These plans utilize a plan sharing agreement.  

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Frequently Asked Questions

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