New York, NY, July 01, 2010 --(PR.com
)-- First Investors Life is proud to introduce First Choice, a new flexible premium variable deferred annuity.
The First Choice annuity is designed for those who want the freedom to choose. First Choice offers 11 different professionally managed subaccounts, each with its own investment objective and degree of risk.[i] Accountholders can allocate funds to all of the subaccounts as long as each subaccount has a minimum of 1% of each purchase payment.
While accumulating retirement savings, a First Choice annuity contract owner benefits from tax deferred growth; the contract owner pays no income tax on the earnings in the annuity contract until they are withdrawn. In addition, there is no requirement for beginning annual distributions from an annuity at age 70 1/2 as there is with IRAs, 401(k)s and other qualified plans. Earnings on contributions to an annuity can accumulate tax deferred until the account holder reaches age 90. And unlike IRAs or 401(k) plans, a First Choice annuity does not have an annual contribution limit.[ii] The flexible premium means additional money may be contributed to the annuity at any time.
First Choice offers many options for accessing the accumulation value. One option, annuitization, provides guaranteed[iii] income for life, or an income for life guaranteed for a specific number of years. There is also the choice of making systematic withdrawals, which the annuitant can start or stop as needs change. Finally, there is the option of taking the full surrender value of the annuity’s value.
The addition of the First Choice Variable Deferred Annuity serves to enhance the product lineup of First Investors Life, which already includes permanent and term life insurance policies, as well as two fixed annuities: FIRST ADVANTAGE and FIRST ADVANTAGE for INCOME.
For more complete information, including charges and expenses, for the First Investors Life Insurance Company First Choice Variable Annuity, you may obtain a free prospectus by contacting a First Investors Financial Services Representative, calling (800) 832-7783, or writing to the administrative office at the following address: First Investors Life Insurance Company, Raritan Plaza 1, PO Box 7836, Edison, NJ 08818. You should consider the subaccounts' investment objectives, risks, charges and expenses carefully before you purchase an annuity or send money. The prospectus contains this and other information about the product, and should be read carefully before purchasing. Contract availability and provisions may vary by state.
The First Choice Variable Deferred Annuity is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
First Investors Life Annuities are issued by:
First Investors Life Insurance Company
First Investors Corporation
110 Wall Street
New York, NY 10005-3830
[i] First Investors Life makes no guarantees with respect to the investment return or principal value of the underlying subaccounts.
[ii] If you are working and can contribute on a pre-tax or tax-deductible basis to an IRA, 401(k), or other qualified retirement plan, we recommend that you do so before investing in the First Choice annuity. Your investment in the First Choice annuity is generally not tax deductible.
[iii] All guarantees are subject to the financial strength and claims-paying ability of First Investors Life Insurance Company.