Funding an Allianz Benefit Control Annuity with Home Equity – No Liquidation Required
What if you could purchase a lifetime annuity without having to liquidate assets, use cash on hand or go into debt?
Well, you can. Meet Judy.
She is 55, unmarried, and owns a $1 million home with a $200,000 mortgage. She has a small 401(k) and a well-funded 529 college plan for her three children. She worries about running out of income and hopes to ease her children’s financial pressures while having some long-term care protection if it becomes necessary.
By taking advantage of CHEIFS, Judy sells a minority interest in her home’s future value and converts a fraction of her home equity into $100,000—tax-free. She’s then able to purchase an Allianz Benefit Control Annuity that starts with a yearly income of $22,766 when she turns 71 with her active investment growing to $295,216 on that same start year.*
Judy secures lifelong income without having to:
- Liquidate assets
- Use cash on hand
- Go into debt
She stays liquid. She continues living in her home while continuing to enjoy the benefits of home ownership. She stays fully invested in her retirement assets, allowing them to grow, with the ability to buy out the CHEIFS obligation at any time, creating flexibility for her children to retain their childhood home.
That’s how CHEIFS can empower homeowners to achieve financial success.
* This insurance product is described for informational purposes only. Cornerstone does not sell, place, or endorse insurance products and is not affiliated with Allianz Life Insurance Company of North America or any agent or advisor. This is not an advertisement or endorsement of the insurance provider or its products. Actual product pricing, benefits, and terms may differ. Consumers should consult their insurance agent or advisor about specific insurance products.
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