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What is a Planned-Spend Account?

A Relay Planned-Spend Account is an immediate annuity issued by Guggenheim Life and Annuity Company, a Delaware-domiciled insurance company, doing business as Guggenheim Life and Annuity Insurance Company in California. Your Planned-Spend Account provides a monthly cash flow stream over a predefined term. However, unlike most annuities, there are no penalties for withdrawing funds early. When you open a Planned-Spend Account and become a Relay customer, you will receive a written contract outlining exactly how your Planned-Spend Account works. This contract will include specifics regarding your monthly payouts and the free liquidity features of your Planned-Spend Account.

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