NAC Guarantee Plus

The NAC GuaranteePlus is a single premium, multi-year guarantee annuity. An annuity is a long-term Contract issued by an insurance company. In exchange for a premium payment, the insurance company agrees to make payments to you in the future. This annuity provides an accumulation value that earns interest through a fixed account with a guaranteed interest rate that is set for a 3-, 5- or 7-year period. This annuity also provides several options for accessing funds.

Issue ages
Available to issue ages 0-90 (qualified and non-qualified)
For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established.
 
Penalty-free withdrawals
Beginning 2nd contract year, equal to the interest earned in the prior contract year. By current company practice, you may take a penalty-free withdrawal in the first contract year equal to interest earned in the first year.
You may elect to receive interest withdrawal payments on a monthly, quarterly, semi-annual or annual basis, called a systematic withdrawal, these scheduled payments are penalty-free but must be at least $50 each.

Market value adjustment
Your contract also includes an MVA feature, which may decrease or increase your surrender value depending on the change in the market value adjustment external index rate since the start of the term. Due to the mechanics of an MVA, surrender values decrease as the MVA external index rate rises. When the MVA external index rate decreases, the surrender value increases. However, the MVA is limited to the surrender charge or the interest credited to the accumulation value.

Note: if eligible you may roll over TSP to us to be administered as a qualified tax status that we offer.