Deferred Gift Annuity
How It Works
- You transfer cash or securities to Menno Haven, Inc. Our suggested minimum gift requirement is $5,000.
- Beginning on a specified date in the future, Menno Haven begins to pay you, or up to two annuitants you name, fixed annuity payments for life.
- Beneficiaries are recommended to be at least 55 to begin receiving payments and must be at least 40 to fund the gift.
- The remaining balance passes to Menno Haven when the contract ends.
- Deferral of payments permits a higher annuity rate and generates a larger charitable deduction.
- You can target your annuity payments to begin when you need them, such as retirement.
- The longer you elect to defer payments, the higher your payment will be.