Statement from Bishop
As Bishop for the Catholic Diocese of Fairbanks, I want to thank you for your interest in learning how to establish an annuity with the Catholic Bishop of Northern Alaska (CBNA), the corporate legal name for the Diocese of Fairbanks. Without support from people like you, it would indeed be difficult to provide even basic ministries to the many Eskimo and Athabascan village Catholic parishes in the remote bush areas who are not able to sustain the costs and upkeep of their parishes and ministers. I am especially grateful if you have supported our missions in the past.
On our annuities, we follow the charitable gift annuity rates published by the American Council on Gift Annuities. The minimum age to start an annuity with CBNA is age 55 and the minimum amount to start your annuity is $5,000 US.
Payouts on your annuity can be made in monthly or quarterly payments. With an outright cash gift you can open an annuity with CBNA. For example, if you opened an annuity of $10,000.00, and you are 55 years old, you would look at the rate chart to see what percentage is the payout. If the rate is 5.5% for that group, the annual payment would be $550.00.
If you would like to discuss establishing an annuity further, please do not hesitate to contact Betty Assell with Catholic Extension Society at (312) 795-6089. Thank you again for your interest in establishing an annuity with our Diocese. I pray that God blesses you and your loved ones throughout the year.
Bishop Chad Zielinski
This type of annuity provides fixed income for the life of one person. Interest rates are based on the annuitant's age and payments are available on a monthly or quarterly basis. The annuity can be funded with cash. Upon the death of the annuitant, the remaining assets will be retained by the Catholic Bishop of Northern Alaska for support of our ministries or restricted to a diocesan program of your choice.
Deferred Gift Annuities
Similar to an immediate annuity except they begin at a future date determined by the donor at the time of the gift.
These qualified charitable gift annuitues are not insurance policies in the State of Alaska, are not subject to regulation by the Insurance Division and are not protected by the Life and Health Insurance Guaranty Association established under Alaska Statute AS 21.79.040 or any other association that guarantees payments under policies of insurance. The State of Alaska does not in any way approve or endorse these annuity agreements.