Century Plus (ANICO)
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The Century Plus Annuity (CPA) is a single premium deferred annuity with a first-year interest enhancement.
A 5% interest rate enhancement will be offered in the first year. (The availability of the interest rate enhancement is not guaranteed. Have your agent confirm the current rate.)
Surrender Charge Free Withdrawals
Starting in the first contract year, you can withdraw up to 10% of your annuity value as of the beginning of your annuity’s contract year, without any surrender charges.
Systematic Withdrawals
You can request an amount to be withdrawn from Century Plus on a regular basis. The systematic withdrawal can be for either the earned interest only or for a specific fixed amount. Please keep in mind that when the sum of any systematic withdrawal payments and partial surrenders exceeds 10% of the contract’s beginning year annuity value, a surrender charge and market value adjustment or excess interest deduction, if applicable, will be charged.
Death Benefit
Century Plus provides a death benefit upon the death of the owner of the contract. The death benefit will be the greater of the annuity value (premium plus interest earned minus any withdrawals) or the surrender value. By naming a beneficiary to receive the death benefit, you can avoid the inconvenience of probate.
Note:
We will accept the following Inherited IRA:
A 5% interest rate enhancement will be offered in the first year. (The availability of the interest rate enhancement is not guaranteed. Have your agent confirm the current rate.)
Surrender Charge Free Withdrawals
Starting in the first contract year, you can withdraw up to 10% of your annuity value as of the beginning of your annuity’s contract year, without any surrender charges.
Systematic Withdrawals
You can request an amount to be withdrawn from Century Plus on a regular basis. The systematic withdrawal can be for either the earned interest only or for a specific fixed amount. Please keep in mind that when the sum of any systematic withdrawal payments and partial surrenders exceeds 10% of the contract’s beginning year annuity value, a surrender charge and market value adjustment or excess interest deduction, if applicable, will be charged.
Death Benefit
Century Plus provides a death benefit upon the death of the owner of the contract. The death benefit will be the greater of the annuity value (premium plus interest earned minus any withdrawals) or the surrender value. By naming a beneficiary to receive the death benefit, you can avoid the inconvenience of probate.
Note:
We will accept the following Inherited IRA:
- Non-Spouse ONLY if the original owner passed away prior to 01/01/2020.
- If the DOD is on or after 01/01/2020 we will only accept Spousal Inherited IRAs.
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 10 | 9% | 3.38% | 4.5% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Lifetime Income Rider with Fixed Rate | No | 1.10% annually |