Life has a funny way of feeling like there’s very little that can be controlled at times. After all, despite your best efforts, things can be tricky in a lot of different areas of life. This is especially true in a financial world that has very few guarantees. As an example, you may have bought stock in the highest recommended pick from all the financial advisors, and you still may have lost money. So, with retirement looming, the question becomes how to ensure you and your loved ones replace the lost regular income from your job.

Let’s be real for a second. You have put in a lot of effort, and you have worked for a long time. Retirement isn’t a time where you should have to work if you don’t want to, or skimp on all of the needs, wants, and desires that you have during your golden years. It is a period of time that should be a reward for a lifetime of hard work, and it should be as relaxing as the term “retirement” implies.

Do you feel uneasy about riding the stock market roller coaster as your main source of retirement income? That thought process is why so many people are turning to the powerful financial tool known as annuities. Although different annuities do different things, the beauty is that you are able to find something that fits your specific set of needs.

If your main priority is establishing sources of guaranteed income to replace your work paychecks, then the National Western Life Ultra Future Annuity may be an excellent option for you. This fixed index annuity has become an extremely popular option in the guaranteed income portion of the annuity industry because it brings some very powerful tools to the table.

To begin with, the National Western Life Ultra Future establishes strong premium bonuses from the onset. Every premium that you pay within the first policy year comes with a 9% bonus. Additionally, future premiums paid in years 2-5 come with a 4.75% bonus. So, your account’s value ends up equaling 109% of year-one payments, 104.75% of payments during years two-through-five, and 100% of everything after that. That is a great way to set yourself up with a lifetime of guaranteed income, before you ever even receive fixed or indexed interest on your account.

Speaking of interest, the National Western Life Ultra Future brings minimum guaranteed interest rates to the table. You are guaranteed to never be below 1%, and capped at 3% for the duration of your contract term. These values are adjusted and set for new policies at each calendar quarter. Additionally, if you choose an indexed option, you will have a chance to take advantage of the benchmark S&P 500 Index. The Income Outlook NH is an available rider with an impressive 5% guaranteed roll up rate, growing your income base with no market risk.

This annuity also has a number of other interesting benefits. Policy loan options enable you to borrow money from your annuity in certain circumstances. Optional Withdrawal Benefit Riders can be added to your plan at the issue date, and can provide guaranteed minimum income benefits to single or joint annuitants. Settlement options allow you to receive your contract’s value in a number of different types of payments, and this can be selected as early as the first policy anniversary in Florida. Additionally, death benefits, “free look” periods (allowing you to return the annuity within the first 20-days), and interest credit options all make this annuity stand out.

Overall, the National Western Life Ultra Future Annuity provides many fantastic options for those in search of guaranteed lifetime income. However, it is worth noting that the growth potential with this annuity is limited, so those who prioritize being able to use the power of indexing for safe growth will have better options available. Additionally, there are stronger options out there for those who want to focus on long-term care and legacy planning benefits.  However, if you're solely looking for guaranteed lifetime income from a fixed index annuity, the National Western Life Ultra Future with the Income Outlook NH 5% income rider is a tough one to beat.