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Retirement Options

Whether you are in the process of building a financial future, an employer interested in offering retirement solutions to your employees or living in your retirement years and concerned about outliving your income we have a full range of products and services to help meet your objective.

What is a variable annuity?*

A variable annuity is a retirement tool in which an insurer agrees to make periodic payments to you, beginning either immediately or at some future date, while offering a range of variable portfolio options from which to choose. In addition to the promise to make periodic payments, the variable annuity may also provide a death benefit.

What are the potential benefits of purchasing a variable annuity?

  • Periodic payments for the rest of your life (or the life of your spouse or another beneficiary you designate). This feature offers protection against the possibility that after you retire, you will outlive your assets.
  • A death benefit for your heirs. If you die before the insurer has started making payments to you, your beneficiary is guaranteed to receive a specified amount. Or if your beneficiary is your spouse, he or she may be able to continue the contract with any riders (spousal continuation depends on product and initial set up).
  • Investment portfolio options. The value of your annuity will vary depending on the performance of the portfolio options you select.
  • Tax-deferred growth. That means you pay no taxes on the income and investment gains in your annuity until you withdraw your money.
  • Tax-free transfers among portfolio options. Unlike other investment vehicles, variable annuities allow you to move assets from one portfolio to another without being taxed on any gains you've achieved. Transfers may be subject to limitations described in your contract.
  • Optional riders. There are a variety of optional riders that will allow you to access your money, protect your original investment or guarantee a minimum accumulation rate.

Types of variable annuities

  • Immediate annuity – An immediate annuity is purchased with a one-time payment and provides an immediate stream of income for a specified period of time.
  • Deferred annuity – With a deferred annuity, you can either start putting a little away at a time for a long term goal, such as retirement or invest with one purchase payment. Over the years, your contract value has the potential to accumulate tax-deferred before you begin periodic payments.

Who might need it?

A variable annuity might be right if you are looking for a way to protect your investment, but still desire market exposure and access to income when you need it, now or later. Contact one of our advisors today to discuss what option might be right for you.

You might like to know …

There are two phases to a variable annuity: accumulation (pay in) and annuitization (pay out).

  • Accumulation phase (pay in) - During the accumulation phase of your variable annuity, you want your contract value to increase as much as possible. You select from a variety of portfolio options and determine how each purchase payment you make is allocated. You may also continue making purchase payments, thereby increasing the value of your contract.

    During this phase, you can transfer your money from one portfolio option (subject to limitations described in your contract) to another without paying current tax on your gains. 

    Optional access to income - Even during the accumulation phase, you may need access to the money in your annuity in order to deal with unexpected life situations or to supplement your income. You can choose to take a single withdrawal, or set up a series of systematic withdrawals (subject to limitations stated in your contract).
  • Annuitization(pay out) - When you're ready to turn your annuity into a lifetime payment stream, you'll choose when and how, subject to the terms of the contract.

    The accumulated contract value (your purchase payments adjusted for any gains or losses from investment portfolio minus withdrawals andany charges taken over time) becomes a series of payments over a specific number of years,  your lifetime, or your lifetime plus that of another person, whichever you choose. The amount of each payment will depend, in part, on the length of time you select for receiving payments.

    Or, you can choose not to begin a lifetime payment stream, and leave the value of your variable annuity untouched, ensuring a legacy for your beneficiary. 

    Once you reach age 70½, you will be required to take required minimum distributions ("RMD") if your annuity is held in an Individual Retirement Account ("IRA").

Your questions answered …

Q: How can I make sure that I do not outlive my money?
A: An annuity can guarantee a lifelong stream of income for you or for you and your spouse.

Q: What is annuitization?
A:Annuitization is the point at which you elect to end your accumulation period and start receiving annuity payments. Depending on the annuity option selected with your variable annuity, the insurance company can guarantee that it will make annuity payments for at least your lifetime in accordance with the contract’s stipulations, no matter how long you live.

At the time of annuitization, you can determine whether you want a fixed-dollar amount and/or a variable-dollar amount, and how frequently you'll receive your payments.

Q: What is asset allocation?
A: Asset allocation is the process of determining the right combination of asset classes – stocks, bonds and/or cash – to balance your expectations for returns with your tolerance for risk. Proper asset allocation takes into consideration your risk tolerance level and personal time horizon to guide your investment selections. The goal of asset allocation is to minimize the volatility of your portfolio while aiming for a given rate of return over time. Asset allocation does not assure a gain and does not protect against a loss in declining markets. Past performance of any particular asset allocation is no guarantee of future results.

Q: What if I die in a year or so. What happens to my money?
A:
If you have not annuitized your contract, your beneficiary typically will receive  the greater of your total purchase payments (adjusted pro-rata for withdrawals and premium taxes) or the contract value on the date of death. We also look for companies that offer several death benefit riders that offer enhanced protection options. Please consult your registered representative to determine how your specific situation should be handled.

Q: When do I pay taxes on my variable annuity?
A:
Variable annuities are tax-deferred investment vehicles meaning all earnings accumulate tax-deferred. You pay taxes only when you start taking withdrawals.

Q: What protection is available in a down market?
A: You can personalize your variable annuity by purchasing optional riders to meet your specific needs and protect your investment. Optional features include:

  • Principal protection – Your original purchase payment is guaranteed.
  • Living benefit riders – Guarantee access to a minimum amount of withdrawals when you need it.
  • Death benefit riders – Guarantee you will be able to leave a legacy for your heirs

* The product features, benefits, and limitations associated with a particular annuity will vary from product to product and also from state to state. Guarantees are based upon the claims-paying ability of the issuing insurance company. Guarantees do not apply to the investment performance or account value of the underlying variable portfolios. Variable products are sold only by prospectuses, which can be obtained through your registered representative. Before investing, investors should read and consider carefully the product and any underlying fund prospectuses, which contain more complete information about investment strategies, fees, charges, risk factors and other factors that may apply. As with any investment, investing in variable portfolios involves risk, including possible loss of principal. Past performance is no guarantee of future results. Early withdrawals or surrenders may be subject to surrender charges. Withdrawals are also subject to ordinary income tax and, if taken prior to age 59 1/2, a 10% federal tax penalty may apply. For tax purposes only, withdrawals will come first from any gain in the contract. Federal and state laws in this area are complex and subject to change. Consult your personal tax advisor on all tax matters.Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount. Variable annuities are long-term investment vehicles designed to accumulate money on a tax-deferred basis for retirement purposes. Upon retirement, variable annuities may pay out an income stream of a series of payments or a lump sum. If you die during the accumulation or payout phase, your beneficiary may be eligible to receive any remaining contract value. There is no additional tax-deferral benefit for annuities purchased in an Individual Retirement Account (IRA) or other tax-qualified plan because these are already afforded tax-deferred status. An annuity should only be purchased in an IRA or qualified plan if you value some other features of the annuity and are willing to incur any additional costs associated with the annuity.

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What is a fixed annuity?

An annuity contract is a retirement tool in which the insurer agrees to make periodic payments to you, beginning either immediately or at some future date while offering a guaranteed minimum interest rate on your purchase payment(s) for a certain period of time.

* The product features, benefits, and risks associated with a particular fixed annuity, as well as the availability of riders, will vary from product to product and also from state to state. Annuity guarantees are based on the claims-paying ability of the issuing insurance company. Fixed annuities are not insured or guaranteed by the FDIC or any other government agency.

What are the benefits of purchasing a fixed annuity?

A fixed annuity can be an important financial tool for your retirement plans. Here's why:

  1. Competitive interest rate guarantees – Fixed annuities generally have competitive interest rates compared to other financial products for long-term savings.
  2. Tax-deferred growth – For individual purchasers, income taxes on the earnings in a fixed annuity are not payable until the money is withdrawn from the contract.
  3. Guaranteed lifetime income – Annuities offer lifetime income guarantees upon annuitization. These assurances are not found in other financial products.
  4. Favorable withdrawal provisions – Many annuities allow up to 10 percent of the value of the contract to be withdrawn without surrender charges. Tax penalties may apply depending upon the age of the contract holder. (Generally, a 10 percent tax federal penalty applies to withdrawals prior to age 59½.)
  5. No up-front sales charges – The contract value upon which interest is credited, is not reduced by sales charges. The contract value is reduced by surrender charges on early withdrawals.
  6. Avoidance of probate – In the event of the annuitant's death, proceeds can pass directly to a named beneficiary without incurring probate expenses or possible delays.
  7. Optional riders – Optional riders may be available to personalize your annuity.

Types of fixed annuities

  • Immediate annuity – An immediate annuity is purchased with a one-time payment and provides an immediate stream of income for a specified period of time.
  • Deferred annuity – With a deferred annuity, payments are made over time for a long term goal, such as retirement. Over the years, your money has the potential to accumulate tax deferred. Withdrawals providing an income stream begin in later years.

Who needs an annuity?

A fixed annuity might be right for you if you are looking for a way to protect your principal and receive a guaranteed rate of return. Contact one of our advisors today to discuss what option might be right for you.

You might like to know …

There are two phases to a fixed annuity: accumulation (pay in) and annuitization (pay out).

  • Accumulation - Pay in – During the accumulation phase of your annuity, you accumulate interest on the contract based on your purchase payment amount and the rate guarantee period you selected.
  • Annuitization - Pay out – Payments may be either level or increasing periodic payments, and may be set up for either a set amount of years or for the life of one or two people. When it's time to begin receiving income, you make the choices depending on what your needs are at the time.

Your questions answered …

Q:  What if the market or interest rates decline?
A.
We offer fixed annuities that have a one-year, three-year or six-year guarantee period on the interest rate, you'll receive the guaranteed rate even if the market goes down or interest rates decline. The contract also provides a guaranteed minimum interest rate, below which your rate will never be.

Q: What if I die in a year or so. What happens to my money? 
A: There are numerous scenarios that will make this answer unique to your situation. But, if you have not annuitized your contract, your beneficiary is guaranteed to receive at least the greater of your total purchase payments (adjusted pro-rata for withdrawals) or the contract value on date of death.

Q: What is annuitization?
A: Annuitization is when you elect to start receiving annuity payments. A fixed annuity guarantees that annuity payments are made for your lifetime in accordance with the contract's stipulations, no matter how long you live or for a set amount of years. 

At the time of annuitization, you can determine whether you want a fixed-dollar amount and/or a variable-dollar amount, and how frequently and for how long you'll receive your payments.

Q: When do I pay taxes on my fixed annuity?
A: Fixed annuities are a tax-deferred investment vehicle meaning all interest accumulates tax deferred. You pay taxes when you start taking withdrawals.

Q: How can I make sure that I do not outlive my money?
A:
A fixed annuity may help protect you from outliving your money. By annuitizing and choosing the lifetime option, you can establish income for life, no matter how long you live.

What is a qualified retirement plan?*
A qualified retirement plan is an employer-sponsored plan that meets the qualification requirements of Internal Revenue Code 401(a).

What are the benefits of offering an employer-sponsored retirement plan?

  • For an employer, a strong retirement plan can attract and retain high-caliber employees.
  • For an employee, participation in a retirement plan can help save for retirement on a tax-deferred basis.

Types of defined contribution retirement plans
Defined contribution plans are a type of retirement plan that defines the contribution that an employer offers employees toward their retirement. Defined contribution plans can come in the form of a 401(k), profit-sharing, 403(b) or 457(b).

  • 401(k) plans – Profit sharing plans with added "cash or deferred arrangement" permitting eligible employees to contribute a portion of their salary. The following 401(k) plans may offer two types of employee contributions: traditional (pre-tax) or Roth (after-tax).

    Traditional 401(k) – Employers may contribute either matching or non-elective amounts to the plan on behalf of eligible employees. Employer contributions may be tax-deductible, and employee contributions may be excluded from current income for federal income tax purposes.

    Safe Harbor 401(k) – A traditional 401(k) that may be exempt from certain non-discrimination tests and/or top heavy rules, provided requirements are met regarding contributions, vesting and information provided to employees.

    Owner-Only 401(k) – A 401(k) plan for independent professionals and their spouses.

    SIMPLE 401(k) – A simplified version of a traditional 401(k) with no discrimination or compliance testing.
  • Profit Sharing Plan – A defined contribution plan in which the contributions are made solely by the employer.The business owner has the flexibility to contribute and deduct a percentage of an eligible participant's compensation up to a maximum each year.
  • 403(b) – A tax-deferred annuity plan for public education employees, churches and 501(c)(3) organizations; usually funded by traditional (pre-tax) or Roth (after-tax) employee contributions.
  • 457(b) – An eligible deferred compensation plan for employees of state and local governments that meets IRS Code Section 457.

Who needs a retirement plan?

In today's competitive business environment, every employer should consider establishing and maintaining a retirement plan. Campbell Financial specializes in selecting the right company qualified to handle retirement plans for small- to mid-sized employers. Contact one of our advisors today to discuss what option might be right for you.

You might like to know …

Campbell Financial Group can also help you establish a 412(i), which is a defined benefit plan that provides a specified monthly benefit for eligible retirees. A fixed annuity or a combination of a fixed annuity contract and whole life insurance policy are used to create a 412(i) plan. In addition, a SEP or SIMPLE IRA may be set up using  individual fixed or variable annuity products.

Your questions answered…*

Q. Can you offer products that will meet our needs?
A.
Our retirement plan products include allocated and unallocated group variable annuity contracts, each designed for specific needs:

  • 401(k) plans
  • Safe Harbor options
  • Profit-sharing plans (including new comparability/cross-tested)
  • Defined benefit/cash balance (investment only)
  • Db(k) (investment only)

In addition, retirement plans available through Campbell Financial Group offer  flexible plan design, 80+ investment options and a choice of bundled full-service administration or unbundled investment-only agreements with Third Party Administrators (TPAs).

Q. How do you provide plan information to employers?
A.
State-of-the-art software is used  to maintain complete records on plans. These records, which include information at the plan level and at participant levels, are used to produce reports that keep clients updated on the status of their plans. In addition, plan trustees receive an annual valuation report that includes detailed information on contribution allocation, benefit payments, earnings and loan activity. (Only available on bundled full-service administration plans.)

Q. How do you report on distributions from the plan?
A.
For distributions paid from our retirement plan products directly to the participant or per the participant’s instructions, IRS Form 1099-R is prepared, mailed directly to the participant  and reported directly to the IRS.

Q. Do you prepare DOL Form 5500?
A.
The employer is furnished with E-file ready Department of Labor (DOL) Form 5500 and applicable schedules. (Only available on bundled full-service administration plans.)

Q. Can we count on you to conduct non-discrimination testing?
A.
When you take full advantage of the available administration services, the retirement plan services team notifies clients as rules and regulations change to ensure all required testing is complete under the current laws. (Only available on bundled full-service administration plans.)

The plan administrator selected also reviews annually your plan to assure compliance with IRS regulations. Non-discrimination tests include: Coverage, Top Heavy, Compensation as well as Actual Deferral Percentage (ADP) and Actual Contribution Percentage (ACP), if applicable. The employer is furnished with information and complete required IRS and Department of Labor reports. (Only available on bundled full-service administration plans.)

* Registered group variable annuities are sold only by prospectuses, which can be obtained through your registered representative. With respect to non-registered group variable annuities, your representative can provide you with a participant disclosure form for more complete information about the contract. Before investing, investors should read and consider carefully the product and any underlying fund prospectuses, which contain more complete information about investment strategies, fees, charges, risk factors and other factors that may apply. As with any investment, investing in variable portfolios involves risk, including possible loss of principal. Past performance is no guarantee of future results.

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Securities

You can expect progressive solutions from Campbell Financial Group in selecting companies to help you achieve your wealth accumulation and protection pursuits.

Campbell Financial Group, LLC offers you access to a variety of investment products to assist you in building your financial portfolio, including:

  • Mutual funds
  • Variable life insurance and annuities
  • Non-proprietary variable life insurance and annuities
  • 529 College Savings Plans
  • Direct participation programs
  • Full-service stock and bond trading
  • Cash management vehicles
  • Tax-advantaged investments
  • Group retirement products
  • Unit investment trusts
  • Structured products
  • Health savings accounts

Account Management Services

In addition to the full complement of products, we have access to a wide range of sophisticated management services available to them and their clients:

  • Consolidate investments (stocks, bonds, mutual funds, cash etc.) into one standard brokerage account and receive an easy-to-read consolidated statement detailing your transactions and holdings.
  • Invest in securities, purchase products and services, write checks, utilize debit/credit cards and pay bills from one convenient ProCashPlus Account.
  • Access your account via the Internet 24 hours a day, seven days a week.
  • Automatically reinvest stock and mutual fund dividends.
  • Set up automatic contribution/distribution for dollar cost averaging or minimum required distributions.
  • Leverage investment assets to obtain a line of credit at competitive interest rates by establishing margin privileges.
  • Consolidated tax reporting and cost basis tracking via Portfolio Evaluation Services.
  • Directly deposit money from paychecks into brokerage accounts and transfer funds via EFT or bank wire.
  • Financial planning services
  • Mutual fund wrap-fee programs
  • Separately managed account platforms
  • Unified managed account platforms

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Contact one of our advisors today to discuss which retirement option might be right for you.

* Mutual funds, variable products, and registered products are sold only by prospectuses, which can be obtained through your registered representative. Before investing, investors should read and consider carefully the fund or product prospectuses and, where applicable, any underlying fund prospectuses. The prospectuses contain more complete information about investment strategies, fees, charges, risk factors and other factors that may apply. As with any investment, investing in mutual funds and variable portfolios involves risk, including possible loss of principal. Past performance is no guarantee of future results.



Securities offered through The O.N. Equity Sales Company, Member FINRA /SIPC , One Financial Way, Cincinnati, Ohio 45242 513-794-6794. Investment advisory services offered through O.N. Investment Management Company. Keith Campbell is life and health insurance licensed in DE,NJ,and PA and securities licensed in DE, NJ, and PA. Campbell Financial Group, LLC is independent of The O.N. Equity Sales Company, O.N. Investment Management Company and The Ohio National Life Insurance Company.