“Annuities are a bad deal because they have hidden fees and high costs.”
Personal annuities issued by TIAA-CREF Life Insurance Company (TIAA Life) have some of the lowest fees in the industry and most of our annuity products have no surrender fees. In most cases, you can withdraw your money before you start receiving payments.*
“I don’t have enough money for an annuity.”
Our Intelligent Variable Annuity, issued by TIAA Life, requires only $2,500 to start and future contributions can be as little as $250.**
“If I buy an annuity, I lose control of my money.”
With our annuities, you always have control. You control how your money is invested and how long you and/or your spouse receive payments.
“I already have a 403(b)/401(k) and/or an IRA…I don’t need an annuity too.”
Annuities can be a great way to supplement your other retirement accounts with a guaranteed income stream.
* TIAA-CREF Life’s Intelligent Variable Annuity’s maximum annuity expense charge ranges from 0.45% to 0.70%. If the Guaranteed Minimum Death Benefit option is selected, the fee is 0.10% and the maximum expense charge ranges from 0.55% to 0.80%. All expense information presented here is as of the prospectus dated May 1, 2015. Please see the prospectus for more information. According to Morningstar, the average annuity expense charge is 1.34% for all nongroup variable annuity subaccounts in Morningstar Direct as of 7/7/15. ©2015 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 Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
If you withdraw assets from the Intelligent Horizon Annuity before the end of the guarantee period, your distribution will be subject to taxes, a surrender charge and market value adjustment which can be positive or negative.
** $2,500 minimum investment for Intelligent Variable Annuity only; subsequent investments require $250 or more. Minimum for Investment Horizon Annuity is $5,000 and Single Premium Immediate Annuity is $25,000. We reserve the right to limit premiums to no more than $1,000,000 in a calendar year. See contract for details.