Ratings:

A.M. Best A
Fitch A
S&P A-
Moody's A2
Comdex 75

James Alden

Experienced Financial Advisor

25 years

experience

3,712

career consultations

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ForeIncome II 10 Guaranteed Income Builder Benefit

The Global Atlantic Financial Group is a dominant retirement and life insurance company that was established at the dawn of the 21st century, in 2004. Initially known as the Goldman Sachs Reinsurance Group, Global Atlantic seeks, above all, to deliver value to its distribution partners and clients. With a universal selection of financial protection products, including life insurance, preneed insurance, and various annuity types, the company is led by an executive team with thorough expertise in traditional insurance operations as well as investment and risk management. On top of being loyal providers for individual clients, Global Atlantic also helps insurance companies release capital, exit non-core businesses, and finance acquisitions.

15 customer reviews

ForeIncome II 10 Guaranteed Income Builder Benefit

Your Email

Ratings:

A.M. Best A
Fitch A
S&P A-
Moody's A2
Comdex 75

About Product

Type

Fixed Index

Purpose

Lifetime Income

Term

10 Years

Surrender schedule

9%9%8%7%6%5%4%3%2%1%

Fee withdrawal:

10%

Market Value Adjustment

Yes

Return Of Premium

Yes

Minimum Contribution

$25,000

Maximum Contribution

$1,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP

Launch Date

08/27/2018

ForeIncome is a single premium fixed index annuity designed with a guaranteed lifetime withdrawal benefit to help meet the need for predictable lifetime income in retirement.

Available in states: AL, AK, AZ, AR, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, WI, and WY

Allocation Accounts

Name	Type	Rates
1-Year Fixed Account	Fixed	2.75% Fixed
1-Year PIMCO Balanced PTP Participation Rate	Point to Point Annual	105% Participation
2-Year BlackRock Diversa Volatility Control PTP Participation Rate	Point to Point Biennial	105% Participation
1-Year BlackRock Diversa Volatility Control PTP Participation Rate	Point to Point Annual	75% Participation
2-Year PIMCO Balanced PTP Participation Rate	Point to Point Biennial	150% Participation
2-Year Franklin US PTP Participation Rate	Point to Point Biennial	105% Participation
1-Year Franklin US PTP Participation Rate	Point to Point Annual	75% Participation
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate	Point to Point Biennial	105% Participation
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate	Point to Point Annual	75% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	4.5% Cap
1-Year BlackRock Diversa Volatility Control PTP Cap	Point to Point Annual	9% Cap
1-Year MSCI EAFE PTP Cap	Point to Point Annual	4.5% Cap
2-Year Franklin US PTP Spread	Point to Point Biennial	0.5% Spread
1-Year S&P 500 Performance Trigger	Performance Triggered Annual	4% Performance triggered
1-Year Fixed Account	Fixed	2.75% Fixed
2-Year BlackRock Diversa Volatility Control PTP Participation Rate	Point to Point Biennial	105% Participation
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate	Point to Point Biennial	105% Participation
1-Year Franklin US PTP Participation Rate	Point to Point Annual	75% Participation
2-Year Franklin US PTP Participation Rate	Point to Point Biennial	105% Participation
2-Year PIMCO Balanced PTP Participation Rate	Point to Point Biennial	150% Participation
1-Year BlackRock Diversa Volatility Control PTP Participation Rate	Point to Point Annual	75% Participation
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate	Point to Point Annual	75% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	4.5% Cap
1-Year BlackRock Diversa Volatility Control PTP Cap	Point to Point Annual	9% Cap
1-Year MSCI EAFE PTP Cap	Point to Point Annual	4.5% Cap
1-Year PIMCO Balanced PTP Participation Rate	Point to Point Annual	105% Participation
2-Year Franklin US PTP Spread	Point to Point Biennial	0.5% Spread
1-Year S&P 500 Performance Trigger	Performance Triggered Annual	4% Performance triggered

Surrender schedule

Year	1	2	3	4	5	6	7	8	9	10
Penalty	9%	9%	8%	7%	6%	5%	4%	3%	2%	1%

Riders

Name	Inbuilt	Fee
Guaranteed Income Builder Benefit	Yes	1.20% annually

Waivers

Bail-Out

The Contract Value may be withdrawn with no Withdrawal Charges or MVA if after the Initial Strategy Term expires the renewal rates/caps are set at rates below (above for spread-based strategies) the Bailout Rate (Withdrawal Charge Waiver Rate).

Nursing Home

Unavailable in states: CA

At any time on or after the Issue Date of the policy, if your client should become confined to an approved nursing facility for at least 90 consecutive days, withdrawal charges and MVA on any portion of the contract value withdrawn will be waived.State variations apply. The nursing care waiver does not include home health care.

Terminal Illness

Unavailable in states: CA

If your client has been diagnosed with a terminal illness after the first contract anniversary, withdrawal charges and MVA will be waived on any portion of the contract value withdrawn.

Premium Notes

Premium amount

$25,000 minimum premium
$1,000,000 maximum premium for ages 45-80 (as measured by total contribution per person for all annuities with the company)
$500,000 maximum premium for ages 81-85 (as measured by total contribution per person for all annuities with the company)

Note: TSP funds have to be rolled into an IRA.

Withdrawal Provisions

Guaranteed Minimum Surrender Value (GMSV)
The GMSV is equal to the Premium Payment less withdrawal proceeds. If GLWB income activation has not occurred, the GMSV is used for determining the following after the withdrawal charge period when greater than the contract value:

Death Benefit
Surrender value
Contract value for annuitization purposes

Death Benefit
Remaining contract value passes to beneficiaries at no additional charge.

Withdrawal charges
Up to 10% of the beginning-of-year contract value may be withdrawn annually without incurring a withdrawal charge. Withdrawal charges apply to amounts withdrawn in excess of the free withdrawal amount during the withdrawal charge period.
Taxable distributions (including certain deemed distributions) are subject to ordinary income taxes, and if made prior to age 59½, may also be subject to a 10% federal income tax penalty. Payments from IRAs are taxable in accordance with the normal rules surrounding taxation of payments from an IRA. Early withdrawal charges may also apply. Withdrawals may reduce any optional guaranteed amounts in an amount more than the actual withdrawal.
Withdrawal Charge Schedule availability may vary by firm.