Royal Neighbors of America

Royal Neighbors of America

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Why Royal Neighbors of America (RNA) Annuities?

Back in 1895, women couldn't vote and in many states couldn't control their money or own property. Neither they nor children were considered insurable. But RNA's founders believed women have emotional and financial worth. They believed both men and women needed financial protection through insurance. They believed strong women create strong families and then strong communities. So, nine strong women banded together. They didn't just socialize...they mobilized. They formed Royal Neighbors as one of the first carriers to insure women and children.

RNA is a fraternal benefit society, or a membership group with an A- rating from AM Best.

State Availability

RNA offers products in the following states:AR, AZ, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY,MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD,TN, TX, UT, VA, VT, WA, WI, WV, and WY.

Single Premium Immediate Annuity

Issue Ages

  • Non-qualified: 16-98 Adult SPIA
  • 21-98 SEP IRA, above 70 1/2 must be rollover money
  • 16-98 IRA SPIA, above 70 1/2 must be rollover money
  • 16-98 Roth SPIA
  • Maximum annuitant age is 98

Premiums

  • $5,000 minimum premium
  • Premium in excess of $300,000 requires Home Office approval

Payout Options

  • Available monthly, quarterly, semi-annually, and annually; the minimum payment amount is $100 for modes other than annual; payment amount set at issue date – once issued no changes can be made
  • Individual annuitant Period Certain – 5 to 30 years (ages may be limited on qualified plans)
  • Individual annuitant Life Income – 10 or 20-year Period Certain
  • Joint life annuitants – 10 or 20-year Period Certain with 100% or 50% of original payment to joint annuitant

Free-Look Period

  • 20 days (or longer if required by state)
  • Any money refunded will be based on the money received and does not include any interest

Use LPES to provide a quote for your clients.

You may also access interest rates on SPIA products using Agent Access and Quick Quote.

Flexible Premium Deferred Annuity

Issue ages

Owner

  • 16–75 for the owner for non-qualified
  • 16–75 IRA; above 70 ½ premium must be Rollover/transfer money
  • 16–75 Roth IRA; above 70 ½ premium must be Rollover/transfer money
  • 21–75 SEP IRA

Annuitant

  • 0–75 non qualified

Premiums

  • Minimum Premium: $100/month (if PAC) or $1200 annually
  • Maximum Premium: $25,000 annually

Use LPES to provide a quote for your clients.

You may also access interest rates on FPDA products using Agent Access and Quick Quote.

Single Premium Deferred Annuity

Issue Ages:

-Choice 3, Choice 5 and Choice 6-

Owner:

  • 16-99 non-qualified
  • 21-85 SEP IRA*
  • 16-85 IRA, above 70 ½ must be rollover or transfer of funds
  • 16-85 Roth IRA*

Annuitant:

  • 0–85 non qualified

*Can accept premiums after age 70 ½ as a qualified contribution

Premiums

-Choice 3-

  • Minimum Premium: $50,000
  • Maximum Premium: $300,000 (without prior Home Office approval). To request an exception for premiums greater than $300,000, complete and submit Form 10019.

-Choice 5

  • Minimum Premium: $10,000
  • Maximum Premium: $300,000 (without prior Home Office approval). To request an exception for premiums greater than $300,000, complete and submit Form 10019.
  • If premiums are being transferred from multiple sources, it must be noted on the application. A certificate will not be issued until at least the minimum premium required is received at Home Office (including 1035 exchanges and transfer funds). All premiums must be received within 90 days.

-Choice 6-

  • Minimum Premium: $5,000
  • Maximum Premium: $300,000 (without prior Home Office approval). To request an exception for premiums greater than $300,000, complete and submit Form 10019.
  • If premiums are being transferred from multiple sources, it must be noted on the application. A certificate will not be issued until at least the minimum premium required is received at Home Office (including 1035 exchanges and transfer funds). All premiums must be received within 90 days.

Maturity Date

-Choice 3-

  • The certificate anniversary after the Annuitant’s 70th birthday or 10 years after issue, whichever is later.
  • The Owner can elect an optional maturity date later than the above maturity date. If no request is received 30 days prior to the maturity date above, a maturity date of the Annuitant’s age 115 will be automatically selected.

-Choice 5 and Choice 6-

  • This Certificate matures on the anniversary of the Issue Date after the Annuitant’s 70th birthday, or 10 years after the Issue Date, whichever is later
  • In Florida, an Optional Maturity Date may be elected by the Owner. At any time while this Certificate is in force, the Owner may select an Optional Maturity Date that is earlier or later than the Original Maturity Date shown on Page 3, but the Optional Maturity Date may not be later than the first Certificate anniversary after the Annuitant’s 115th birthday. If the Owner does not notify Royal Neighbors in writing, at least 31 days prior to the Original Maturity Date, that the Owner has either selected an Optional Maturity Date, or wishes to receive this annuity’s benefit on the Original Maturity Date, it will be assumed that the Owner selected an Optional Maturity Date of the first Certificate anniversary after the Annuitant’s 115th birthday, provided however, that the Owner may subsequently amend the Optional Maturity Date at any time, while this Certificate is in force.

Use LPES to provide a quote for your clients.

You may also access interest rates on SPDA products using Agent Access and Quick Quote.

New to Annuity Sales?

Annuity sales are a huge opportunity for independent agents in the senior market. If you want to learn how to sell annuities to seniors, you've come to the right place!

Check out our complete guide here: The Ultimate Guide to Selling Annuities In the Senior Market

Also, check out this video from annuity all-star, Michael Sams:

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This product may be available in other states not listed. Please contact us to inquire.