Foundations Annuity 7
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Highlights
As a fixed index annuity, Foundations helps grow retirement savings without investing in the stock market. You can receive interest credits based on a portion of the increase of a financial market index, but are guaranteed to never lose money due to market loss.
Available in states:
AL, AK, AZ, AR, CA, 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, VT, VA, WA, WV, WI, and WY
|
Type
|
Fixed Index
|
|---|---|
|
Premium Bonus
|
1% |
|
Term
|
7 Years |
|
Surrender schedule
|
9%8%7%6%5%4%3% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$25,000 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.9%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
3.15%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
10%
Cap
|
| 1-Year S&P 500 LV DRC 5% TR PTP Spread |
Point to Point
Annual
|
1.5%
Spread
|
| 2-Year S&P 500 LV DRC 5% TR PTP Spread |
Point to Point
Biennial
|
0.5%
Spread
|
| 1-Year S&P 500 Factor Rotator Daily RC2 7% PTP Participation Rate with Spread |
Point to Point
Annual
|
140%
Participation
|
| 2-Year S&P 500 Factor Rotator Daily RC2 7% PTP Participation Rate with Spread |
Point to Point
Biennial
|
175%
Participation
|
| 2-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread |
Point to Point
Biennial
|
210%
Participation
|
| 1-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread |
Point to Point
Annual
|
165%
Participation
|
| 2-Year S&P MARC 5% ER PTP Participation Rate with Spread |
Point to Point
Biennial
|
250%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate with Spread |
Point to Point
Annual
|
210%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |