Delaware Life Variable Annuity: Your Source of Growth and Protection

Delaware Life's variable annuity offers a flexible and tax-advantaged way to grow your investments and secure your financial future. With a wide range of investment options, high interest rate, and a variety of payout options, our variable annuity can be tailored to meet your unique financial goals. In this comprehensive article, we will explore the key benefits, features, and considerations of a Delaware Life variable annuity to help you make an informed decision about your financial future.

Guaranteed Growth Potential: The Cornerstone of Financial Security

Delaware Life's variable annuity provides a guaranteed interest rate that ensures your investments will grow steadily over time. This guaranteed growth potential acts as a safety net, protecting you from market fluctuations and providing peace of mind as you navigate the ups and downs of the financial landscape. This guaranteed interest rate is particularly attractive in today's low-interest-rate environment, where traditional investment options offer meager returns.

Tax-Deferred Growth: Nurturing Your Savings

One of the key advantages of a Delaware Life variable annuity is its tax-deferred growth. This means that your earnings grow tax-free until you withdraw them, allowing your investments to accumulate value more quickly and efficiently. Taxes are only due upon withdrawal, giving you the flexibility to defer taxes until you are in a lower tax bracket or when tax rates are more favorable.

Investment Choice and Flexibility: Customizing Your Annuity

Delaware Life's variable annuity offers a wide range of investment options to meet your individual risk tolerance and investment objectives. You can choose from a selection of mutual funds and sub-accounts managed by renowned fund managers. This flexibility allows you to diversify your portfolio and balance risk and return according to your preferences. As your financial needs evolve, you can easily adjust your investment strategy within the annuity contract.

Multitude of Payout Options: Tailoring Income to Your Lifestyle

Delaware Life's variable annuity provides a variety of payout options to meet your income needs. You can choose to receive regular payments for life, a fixed period, or a combination of both. This allows you to tailor your income stream to your retirement lifestyle and financial obligations. Whether you seek a guaranteed income for life or the flexibility to access your funds as needed, Delaware Life's variable annuity offers a range of options to suit your unique circumstances.

Safeguarding Your Legacy: Preserving Your Wealth

A Delaware Life variable annuity can serve as a powerful legacy planning tool. By designating beneficiaries, you can ensure that your assets are distributed according to your wishes after your passing. This ensures that your loved ones receive the financial support they need, preserving your legacy and providing them with peace of mind.

Common Mistakes to Avoid: Ensuring a Successful Annuity Journey

To maximize the benefits of a Delaware Life variable annuity, it is essential to avoid common mistakes. Here are a few key considerations:

• Not Understanding Your Risk Tolerance: Carefully assess your risk tolerance before selecting investment options. Choose investments that align with your risk appetite and financial goals to avoid unnecessary losses.
• Overlooking Tax Implications: Be mindful of the tax implications of withdrawals from your variable annuity. Withdrawals before age 59½ may be subject to a 10% early withdrawal penalty.
• Failing to Review and Adjust: Regularly review your annuity and adjust your investment strategy as needed. Financial markets and your financial situation may change over time, necessitating adjustments to ensure your annuity remains aligned with your objectives.
• Surrendering Prematurely: Avoid surrendering your annuity prematurely unless absolutely necessary. Early surrender may result in hefty surrender charges and loss of potential growth.

How to Apply for a Delaware Life Variable Annuity: A Step-by-Step Guide

Applying for a Delaware Life variable annuity is a straightforward process. Here's a step-by-step guide to help you get started:

1. Contact a Financial Advisor: Engage with a licensed financial advisor who can provide expert guidance and assist you with the application process.
2. Provide Personal Information: Complete the application form and provide necessary personal and financial information.
3. Choose Investment Options: Select the investment options that align with your risk tolerance and financial goals.
4. Review and Submit: Carefully review the annuity contract and disclosures to ensure you fully understand the terms and conditions. Once satisfied, sign and submit the application.
5. Contribution Decision: Determine the amount you wish to contribute to your variable annuity. This amount can be adjusted over time as needed.

Frequently Asked Questions: Addressing Your Concerns

To address common queries regarding Delaware Life's variable annuity, here are some frequently asked questions:

Q: What is the minimum investment required to open a Delaware Life variable annuity?
A: The minimum investment amount varies depending on the investment options selected. Your financial advisor can provide you with specific details.

Q: Are there any fees associated with a Delaware Life variable annuity?
A: Yes, there may be fees associated with the annuity, such as administrative fees, mortality and expense risk charges, and investment management fees. Your financial advisor can provide you with a detailed breakdown of all applicable fees.

Q: How often can I withdraw funds from my variable annuity?
A: You can access your funds through withdrawals or loans in accordance with the terms of your annuity contract. Your financial advisor can provide you with specific information regarding withdrawal options and any applicable limitations.

Q: What is the surrender charge period for a Delaware Life variable annuity?
A: The surrender charge period varies depending on the contract you select. During this period, if you surrender your annuity, you may be subject to surrender charges. Your financial advisor can provide you with details about the surrender charge period and any applicable charges.

Conclusion: Empowering Your Financial Future with Delaware Life

Delaware Life's variable annuity offers a comprehensive solution for individuals seeking growth, tax efficiency, and income security. With its guaranteed growth potential, tax-deferred growth, investment flexibility, payout options, and legacy planning capabilities, this annuity can serve as a cornerstone of your financial strategy. By avoiding common mistakes, understanding your options, and adopting a proactive approach, you can maximize the benefits of a Delaware Life variable annuity and achieve your financial goals.