The Navy Mutual Flexible Premium Retirement Annuity (FPRA)

The Navy Mutual Flexible Premium Retirement Annuity (FPRA) maximizes your accumulation of tax-deferred investment dollars with minimum exposure to risk. The flexible premium aspect of the FPRA refers to your ability to make future contributions of any amount ($25 and above) at any time, to a total of $1,000,000. The FRPA also allows withdrawals of up to 10% of the accumulated value after the first year. Up to four withdrawals may be made each year without incurring a withdrawal fee.

Interest rates will vary throughout the year; however, you cannot lose money with a Navy Mutual annuity. In addition to the return of premiums paid (less withdraws), the minimum guaranteed interest credited to the contract will be 1%. Earnings generated within a Navy Mutual FPRA do not create an income tax liability until payments are actually distributed from the annuity.

Navy Mutual's Flexible Premium Retirement Annuity (FPRA) may be purchased on the life of, and owned by, an Eligible member, as well as his or her spouse, child or grandchild. A plan may be purchased on a member or spouse at any age, whereas children and grandchildren must be between the ages of six months and age 24. A minimum initial contribution of $100 is needed to establish an FPRA.

Features FPRA
Minimum Initial Contribution $100
Maximum Monthly Contribution None, Subject to Maximum Cumulative Contribution
Maximum Cumulative Contribution $1,000,000
Surrender Charges None
Market Value Adjustment Yes, for 7 Years
Interest Guaranteed on Contributions Yes, for 1 Year
Minimum Interest Guaranteed 1% Annual Effective Rate

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To learn more about Navy Mutual Flexible Premium Retirement Annuities, please call us at 800-628-6011.