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United Commercial
Travelers has more than a century of experience in providing financial protection
to its members and their families. In this tradition of member service,
UCT offers flexible and single premium annuity products to UCT members.¹
Plans and provisions are outlined below. Flexible Premium Deferred Annuity This plan may be started with a minimum deposit of $200 and used as an IRA or a simple tax-deferred savings plan. Interest earned on the annuity is tax-deferred until you are ready to begin drawing on the funds you accumulate. Additional deposits may be made to your annuity at any time so that you can add to your savings as you are able. Tax deferral coupled with a competitive current interest rate makes UCT’s flexible premium deferred annuity an attractive plan. Issue ages are 0-85 years. Single Premium Deferred Annuity The Single Premium Deferred Annuity requires a minimum deposit of $2,000. This annuity may be used for rollovers from qualified plans such as IRAs and profit-sharing plans. It may also be used simply as a vehicle for tax deferral of funds that have been accumulated in certificates of deposit or other savings plans. Issue ages are 0-85 years. Benefits and Features of UCT's Annuities  Minimum initial deposit is $200 on the flexible premium plan and $2,000 on the single premium plan. Interest payments are available on a monthly, quarterly, semi-annual or annual basis while leaving the principal intact. Up to 10 percent of the Annuity Accumulation Value may be withdrawn each year after the first without a surrender charge. The current rate of interest is guaranteed for one year from the effective date of a new annuity. The minimum guaranteed rate of interest is 4 percent. Tax is deferred on interest accumulated until withdrawn. There are no sales charges or annual maintenance fees. One hundred percent of each dollar placed in a UCT annuity is credited with the current rate of interest.¹To become a UCT member, annuity applicants must fill out a membership application (Form M-81) and pay first-year dues. |  |
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