Annuity Cost Savings Calculator
Lower expenses. More savings
lower costs + your savings = more retirement income potential for you.
Calculate your cost savings
You could save$14,314
|Date||TIAA Life Intelligent Variable Annuity||Comparable annuity|
Try different hypothetical scenarios to explore various retirement outcomes:
rate of return
You could save $14,314
1For its stability, claims-paying ability and overall financial strength, TIAA-CREF Life Insurance Company (TIAA Life) is a member of one of only three insurance groups in the United States to hold the highest rating available to U.S. insurers from three of the four leading independent insurance company rating agencies. TIAA Life is a wholly owned subsidiary of TIAA. TIAA Life holds the following ratings as a result of its relationship with TIAA: A.M. Best (A++ as of 6/16), Fitch (AAA as of 5/16), and Standard & Poor's (AA+ as of 7/15), and the second highest possible rating from Moody's Investors Service (Aa1 as of 8/15). There is no guarantee that current ratings will be maintained. The financial strength ratings represent a company's ability to meet policyholders' obligations and claims and do not apply to variable annuities or any other product or service not fully backed by TIAA Life's claims-paying ability. The ratings also do not apply to the safety or the performance of the variable accounts, which will fluctuate in value.
2According to Morningstar, the average annuity expense charge is 1.33% for all non-group variable annuity subaccounts in Morningstar Direct as of 5/23/2016. ©2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither is Morningstar or its content providers are responsible for any damages or losses arising for any use of this information. Past performance is no guarantee of future results.
3TIAA Life's Intelligent Variable Annuity's maximum annuity expense charge ranges from 0.45% to .70%. If the Guaranteed Minimum Death Benefit option is selected, the maximum expense charge ranges from 0.55% to 0.80%. All expense information presented here is as of the prospectus dated March 31, 2016. Please see the prospectus for more information.
TIAA Life's Intelligent Variable Annuity Explanation of Annual Annuity Charge Rates:
Years 1-10 accumulation from $0 to <$100,000: 0.50%
Accumulation from $100,000 to <$500,000: 0.35%
Years 11+ any accumulation: 0.10%
4When comparing annuities and before considering replacing an annuity, clients should carefully consider differences in features, costs, charges, services, company strength and other important aspects. there may also be tax consequences associated with the transfer of assets. Indirect transfers may be subject to taxation and penalties. Before initiating any replacement of an annuity, be sure to follow company policies, applicable state laws and industry regulations.
The information derived from this tool is for illustrative purposes only and must not be regarded as a promise, project or estimate of actual investment performance. Results are based on your inputs and certain hypothetical assumptions may be have been made based on information you provided. The purpose of the tool is not to predict future returns, but to be used as an educational tool. You should not rely on this tool as the sole source of making any financial decisions. Contact your tax advisor regarding the tax impact of any decision regarding potential savings strategies. You may also contact TIAA Life at 877-554-8282 for additional information about our annuities.
This calculator allows for assumed rates of rerun up to a maximum of 8%. Please note the assuming higher rates of returns implies higher risk levels, and may not match actual future returns. Past performance is not a guarantee of future performance. This chart assumes a hypothetical interest rate of 6% with no withdrawals during the period indicated. Any withdrawn amounts are subject to federal and state ordinary income taxes and, if made before age 59 1/2, the IRS 10% penalty. This calculation does not reflect the deduction of any fees or expenses and taxes and is not intended to predict or predict an investment rate. If these amounts were include, the performance would be lower. Actual returns will vary. Our current administrative fees are 0.10% and we reserve the right to raise this rate to 0.30% upon notice.
Please keep in mind that annuities are designed for retirement and other long-term goals. If you choose to invest in variable investment products, your money will be subject to the risks associated with investing in securities, including loss of principal.
Annuity contracts contain exclusions, limitations, reduction of benefits and may contain terms for keeping them in force. We can provide you with costs and complete details. Please note: lower expenses do not necessarily result in higher returns.
The Intelligent Variable Annuity, contract form series TCL-VA2, is issued by TIAA-CREF Life Insurance Company (TIAA Life) , 730 Third Avenue, New York, NY 10017. TIAA Life is solely responsible for its own financial condition and contractual obligations.
When comparing annuities and before considering replacing your annuity, carefully consider differences in features, costs, charges, services, company strength and other important aspects. There may also be tax consequences associated with the transfer of assets. Indirect transfers may be subject to taxation and penalties. Consult with your own advisors regarding your particular situation.
THIS CALCULATOR IS NOT APPROVED FOR USE IN OREGON.
Annuities are long-term investment vehicles designed for retirement purposes or other long-term goals.