MultiVantage is a single premium deferred annuity with market value adjustment and interest rate enhancement issued by Integrity Life Insurance Company, Cincinnati, Ohio, or National Integrity Life Insurance Company, Greenwich, New York.
Issue Ages 18-89 owner and annuitant.
Retirement Plan Availability Traditional, Roth and SEP IRAs are available. This product may be a suitable option for rollovers from KEOGH, 401(k) or other tax-qualified plans. No added tax deferral advantages exist. Different rates apply for tax-qualified plans. Consult your plan administrator or tax advisor for details.
$1,000,000 for age 18-75;
$750,000 for age 76-89 without approval.
Access for Financial Flexibility
Beginning immediately, up to 10% of the account value (noncumulative) may be withdrawn each contract year without a withdrawal charge or a market value adjustment (MVA).
After withdrawals, there must be at least a minimum account value of $2,000 remaining in the contract. The $250 minimum withdrawal amount is reduced to $100 if taken through a systematic withdrawal program, free of charge.
Death Benefit Protection
At the death of the owner during the deferral period, Integrity Life or National Integrity Life guarantees that the designated beneficiary who survives the owner’s death will receive the account value as of the date the death claim is processed.
Death benefit proceeds will be paid directly to the beneficiary without the delay and expense of probate. No withdrawal charge or MVA applies.
Income Options for Future Security Choose scheduled payments guaranteed to continue for a lifetime, with a 10-year period certain (single or joint). Other options may be available. Income payment guarantees are backed by the claims-paying ability of Integrity Life or National Integrity life.
Market Value Adjustment (MVA) During a guarantee period of more than one year, which is called a Guaranteed Rate Option (GRO), an MVA applies to annuity options and withdrawals in excess of the free withdrawal amount. The MVA reflects the effect of the change in the interest rates we offer between the time the GRO was selected and the time the MVA is applied. Generally, if interest rates increase, the MVA reduces your contract’s value. On the other hand, if interest rates decrease, the MVA increases your contract’s value. The MVA will not result in a value of less than the contribution applied at the beginning of the current GRO, minus withdrawals taken during the current GRO (including any withdrawal charge, but not considering any MVA), plus interest credited at the guaranteed minimum interest rate. Withdrawal charges may reduce this amount. An MVA does not apply during the last 30 days of the GRO or to the death benefit.
10-year GRO not available at renewal with National Integrity contracts.