from Big John Insurance Agency

Michigan Retirement Options

Thinking about retiring? Unsure if you’ll have enough income or assets to be able to retire? Let Big John Insurance Agency help you plan the perfect retirement. We have multiple options available to help you build value now and in the future.

Indexed Universal Life Insurance in Michigan

When it comes to your retirement, you want to ensure that you have the money you need to live comfortably. Just as your daily life is unexpected, your future needs are too. Take some of that uncertainty out by obtaining life insurance that adapts with life’s changes and allows you to focus on what’s most important to you. Indexed universal life insurance builds assets during your lifetime, while also protecting your loved ones from the unexpected by providing a death benefit. Strategic Choice IUL® from Gleaner Life Insurance Society is a flexible solution that allows cash value growth through both fixed and indexed accounts.

Indexed Segments of Indexed Universal Life Insurance

The indexed aspect, or account, of your indexed universal life insurance policy earns interest annually based on the movement of the S&P 500® Index. This occurs while also offering you downside protection during declining bear markets.

Fixed Segments of Indexed Universal Life Insurance

The fixed aspect of your indexed universal life insurance policy earns an interest rate that is competitive with the market. With a guaranteed minimum of 2% return, you will enjoy a steady and stable growth of this account.

Flexible Premiums

With flexible premiums, you can choose how much and when to pay your premiums. This allows you to pay less in hard times, more in good times, or based on whatever reason you may have.


    • Issue Ages:
      • 0-85 years old
    • Minimum Amount of Insurance:
      • $25,000 when issued for ages 0-49
      • $10,000 when issued for ages 50-85
    • Maximum Amount of Insurance: 
      • None, based on Home Office approval
    • Indexed Option:
      • S&P 500® Index
      • Current cap rate of 11%
      • Guaranteed minimum cap rate of 3.00%
      • Guaranteed minimum floor rate of 0.50%
    • Current Accumulation Rate:
      • 3.75%
    • Guaranteed Minimum Interest Rate on Fixed Accounts:
      • 2.00%

Gleaner’s Strategic Choice Indexed Universal Life®

    • Premium:
      • Flexible
    • Coverage:
      • Permanent
    • Benefits: 
      • Adapts to your changing needs
    • Cash Value:
      • Yes

Annuities in Michigan

What is an annuity?

In the most basic sense, an annuity is a contract between you and an insurance company where they provide you with guaranteed income for the rest of your life. As long as you make payments (or one lump sum) to them, the insurance company promises to grow the value of that money and then send you income payments during your retirement. Again, this is the simple answer. Annuities can be very complex, and that’s where an annuity expert from Big John Insurance Agency can help.

What are the main aspects of an annuity?

Used primarily by retirees, annuities offer a guaranteed income stream from an insurance company. They can be invested in either as a lump sum or as periodic payments, during what is known as the accumulation phase. The annuity starts paying out once the annuitization phase has been reached, for either a fixed period of time (term) or over the remaining lifetime of the purchaser.

What are the main types of annuities?

The two main types of annuities are fixed and variable, yet other types exist such as immediate and deferred income, in order to give the purchaser flexibility. Fixed annuities are similar to a savings account, growing at a fixed interest rate over the life of the annuity. Variable annuities fluctuate based on the rate of return from the mutual funds or annuity funds it is invested in. Though more volatile, the variable annuity allows you to enjoy much strong returns from improving economies.

Annuity vs. Life Insurance

Many people ask what the difference is between an annuity and life insurance. On a simple level, an annuity ensures that you have money throughout your retirement while you are alive. On the other hand, life insurance pays out to your loved ones upon your death. Both cover the future: annuities cover your future, while life insurance covers your family’s future if something happens to you.

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