CUNA Mutual Group is a leading insurance, financial services, and technology that is focused on helping people to achieve financial security throughout all stages of their lives. The company offers both consumer and commercial insurance coverage, along with investment solution. In addition, business solutions such as data and analytics, lending capabilities, and marketing services are also available.
The company was initially founded in the year 1935 when a group of credit union leaders needed a way to protect their members. In its infancy, CUNA Mutual was known as the CUNA Mutual Society.
Today, CUNA pays out more than $1 billion in benefits each year to its policyholders and customers. As of year-end 2018, CUNA Mutual held more than $20.5 billion in assets under management. For the calendar year 2018, the company generated approximately $3.7 billion in revenue – which is an increase over the past several years. CUNA Mutual also took in roughly $215 million in net income for 2018.
Due in large part to its strong financial foundation and its benefits payment capabilities, CUNA Mutual is considered to be a financially stable entity, and as such, it has been given high ratings from the insurer rating agencies, which include an A from A.M. Best Company (as of March 2019), an A2 from Moody’s Investors Service (also as of March 2019), and an A from S&P Global Ratings (as of September 2018).
CUNA offers a long list of insurance, investment, and other financial related products that can help their clients with growing and protecting wealth. In the area of annuities, CUNA Mutual offers:
- Fixed annuities
- Immediate income annuities
- Future income annuities
- Risk control annuities
- Variable annuities
The company’s fixed, immediate income, and future income annuities are geared towards investors who are seeking growth potential during their annuity’s “accumulation” phase, along with guaranteed income in the future.
CUNA Mutual Fixed and Immediate Annuities
The growth in a fixed annuity compounds on a tax-deferred basis, which means that you won’t have to pay taxes on the gains until the time of withdrawal. For more in-depth information about the fixed annuities that are offered by CUNA Mutual, go HERE.
You can also access additional information regarding how to take income from a fixed annuity, and when the time might be right to do so, by clicking HERE.
With an immediate income annuity, you can contribute a lump sum of cash, such as that from an employer-sponsored retirement savings plan, and/or money that you’ve been accumulation in an IRA or other type of personal savings or investment account.
These types of annuities can provide you with income right away (or the income can be started within 6 to 12 months of purchasing the annuity). Because so many companies have done away with their defined benefit pension plans, an immediate annuity can give you back the certainty of knowing that income will still flow in on a regular basis for the remainder of your lifetime, regardless of how long that may be.
The payments that you receive from a single premium immediate annuity, or SPIA, are fixed and guaranteed for your lifetime, and they are based on your life expectancy, as well as the amount of money you have inside the annuity. You could also opt to add another income recipient to your annuity, such as a spouse or partner. In this case, income will last for the remainder of both of your lifetimes.
You can take a look at the CUNA Mutual MEMBERS Single Premium Immediate Annuity customer brochure HERE for more details on how this annuity works, and whether or not it could work for you.
There are also more in-depth CUNA Mutual annuity reviews that can be accessed via our Annuity Gator website by clicking HERE.
Variable Annuities from CUNA Mutual
If you’re looking for an opportunity to attain market-related growth in your annuity, while also deferring taxes on the growth in your account, then a variable annuity from CUNA Mutual could be right for you.
These annuities also offer an income stream when you are ready to convert your contract value over into a cash flow. The variable annuities that are provided through CUNA Mutual include the MEMBERS Horizon – and the MEMBERS Horizon ll.
CUNA Mutual Risk Control Annuities
CUNA Mutual also offers a line of products known as risk control annuities. You may have heard about annuities that have “buffers.” These, however, are different because they offer true floors that guarantee limits on losses. So, when combined with market-linked growth potential, risk control annuities can give you a whole new strategy for personalizing your risk protection.
There are two risk control annuity options provided through CUNA Mutual. These include the:
- MEMBERS Zone Annuity – This annuity provides an innovative approach to market-linked risk control. It lets you decide where to stop future losses in exchange for a “cap” on your gains. You can read more about the MEMBERS Zone Annuity in the product brochure HERE. You can also find additional in-depth details via the MEMBERS Zone Annuity Prospectus.
- MEMBERS Horizon Annuity – The CUNA Mutual MEMBERS Horizon annuity lets you choose from a wide range of investments options that are aligned with your risk tolerance and your financial goals. Then you can decide how much of your money to protect from market risk, as well as the exact level of that protection. The MEMBERS Horizon brochure can be accessed HERE and the prospectuses HERE.
How to Know If an Annuity from CUNA Mutual is Right for You
Although there is a nice lineup of annuity products that are offered through CUNA Mutual Group, it can still be somewhat challenging to know if one of these products is the right one for you…or even if any annuity will fit well into your portfolio.
That’s why it is best to first research all of your options via an independent and unbiased expert source – and that is where we come in!
At Annuity Gator, we know that wading through all of the “fine print” that is associated with annuities can be frustrating at best, and just downright overwhelming – which in turn can make consumers even more confused about an already-confusing financial vehicle!
We have researched and analyzed thousands of annuities, and many of these product reviews are found in our online annuity review database. So, before you run full speed ahead and get locked into a long-term financial commitment, give us a call directly at (888) 440-2468, or visit us online through our secure contact form to set up a time to chat with one of our highly trained annuity specialists.
The Annuity Gator
P.S If you would like to read more of our CUNA Mutual annuity reviews here are some links to check out:
- Independent Review of the CUNA Mutual MEMBERS Single Premium Immediate Annuity
- Independent Review of the CUNA Mutual MEMBERS Index Annuity
- Independent Review of the CUNA Mutual MEMBERS Future Income Annuity
- Independent Review of the CUNA Mutual MEMBERS Select Fixed Annuity ll
- Independent Review of the CUNA Mutual MEMBERS Focus Fixed Annuity