ANNUITIES
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In Business since 1913
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Regulated by the
State of Delaware Insurance Department in accordance with all of the
rules and regulations of the National Association of Insurance
Commissioners (NAIC).
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All annuities, IRAs and
life insurance certificates are reserved in accordance with insurance
department laws.
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The Association's Solvency Ratio
(surplus of Assets over Liabilities) exceeds the average in the insurance industry.
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The
Association holds investments in the following:
Government Securities
High Grade Municipal Bonds
High Grade Corporate Bonds
An MBA tax-deferred annuity
is simply a contract between you and MBA in which you invest a sum of
money for a period of time, i.e. when you reach age 59½ or retirement.
Your principal is guaranteed by MBA, and during the period you hold your
annuity you earn interest monthly, based on MBA's then-current rate,
which is adjusted quarterly.
MBA's guarantee means that
your principal and interest are backed by the legal reserve of a
top-rated fraternal insurance carrier. MBA pays competitive rates and
offers investors a number of options for withdrawing principal and
interest. Your earnings are tax-deferred until you start receiving them.
With MBA you can use your annuity as an IRA (Traditional or Roth)
or as a tax-deferred savings plan.
Tax-Deferred
Savings Plan
This offers the investor an additional savings vehicle whereby the
individual earns a high current rate and still saves on taxes. On this
annuity plan all interest earned is tax-deferred until such time as
withdrawals are made. Payments are flexible and deposits may be made to
the account at any time.
Traditional
IRA
This enables eligible individuals with earned income to invest up to
$6,000 ($7,000 age 50 or older) per year in an IRA Annuity. If an eligible individual has a
non-working spouse, contributions between these two IRAs are allowed up
to $12,000 per year ($14,000 age 50 or older). If eligible, the contribution is 100% tax-deductible
as an "Adjustment to Income." MBA also accepts Rollovers
or Transfers from qualified accounts with other institutions.
Roth
IRA
This enables eligible individuals with earned income to invest up to
$6,000 ($7,000 age 50 or older) per year in a Roth IRA. Roth IRA contributions are nondeductible.
Qualified distributions are tax-free when held for at least five years.
No distributions are required during the account holder's lifetime and
contributions may be made after age 72. Contributions may be
made to both a Roth IRA and a Traditional IRA, as long as the total
contributions do not exceed $6,000 ($7,000 age 50 or older) for the tax year.
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