Heritage Income Advantage Rate & Reviews

Heritage Income Advantage

Heritage Income Advantage is a single premium deferred fixed-indexed annuity (FIA) that provides growth potential with protection from market downturns. An FIA is purchased as part of your retirement strategy, but also offers the flexibility to access your funds. It includes an optional rider that provides a guaranteed income stream.

Owner/Annuitant Information and Restrictions

Single Annuitant only.
Single Owner: The owner and Annuitant must be the same person.
Joint Owner: Joint Owners must be lawfully wedded spouses. The beneficiary will be, “Surviving Joint Owner.”
Trust: Only one owner at a time. Trust cannot be a Joint Owner. Trust must be an agent for a natural person. Natural Person must be named as Annuitant.
Grantor Trust: Trust Grantor must be the named Annuitant.
Custodial (UGMA, UTMA): Minimum age for GLWB is 55.
Inherited IRAs: Secure Act eligible beneficiaries only Secure Act Eligible Beneficiaries: Death of IRA owner on or after 1/1/2020: accepted beneficiaries: spouse, disabled, chronically ill, minors, not 10 years younger than the IRA owner, and trust created for the benefit of any of those listed above. Death of IRA owner before 01/01/2020: spouse and non-spouse beneficiaries. Not eligible for GLWB.

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

Allocation Accounts

Name	Type	Rates
1-Year Fixed Account	Fixed	1.25% Fixed
1-Year Morgan Stanley Dynamic US Equities PTP Participation Rate	Point to Point Annual	37% Participation
2-Year Morgan Stanley Dynamic US Equities PTP Participation Rate	Point to Point Biennial	64% Participation
1-Year S&P 500 PTP Monthly Sum Cap	Point to Point Annual Monthly sum	1.25% Cap
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	18% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	2.5% Cap
2-Year S&P MARC 5% PTP Participation Rate	Point to Point Biennial	80% Participation
1-Year S&P MARC 5% PTP Participation Rate	Point to Point Annual	55% Participation
2-Year SG Entelligent 6% VT PTP Participation Rate	Point to Point Biennial	80% Participation
1-Year SG Entelligent 6% VT PTP Participation Rate	Point to Point Annual	55% Participation

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
Heritage Income Advantage GLWB rider	No	1.25% annually