Strategic Growth 7 Annuity
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Highlights
The Strategic Growth 7 Annuity is a modified single premium, deferred fixed index annuity with a seven year Surrender Charge Period. During the Surrender Charge Period, a Surrender Charge, and, in most states, a Market Value Adjustment (MVA) apply if you surrender your Strategic Growth 7 Annuity, and may apply if you take withdrawals from your Strategic Growth 7 Annuity.
Rate Buy Up Feature
The Rate Buy Up Feature is available on each index crediting option. For a monthly charge, each Index Account using this feature in which the contract value is allocated, may provide the owner a higher interest credit rate through a higher cap, higher participation rate, and/ or lower spread as applicable. At the end of the surrender charge period, if the total Buy Up Costs are greater than the total index interest credits (including non Buy Up Options), then the excess of the total Buy Up Costs over the total index interest credits will be refunded to the contract’s Fixed Account. Please note: the refund of Buy Up Charges does not apply if an excess withdrawal is taken from the contract (an excess withdrawal is a withdrawal that exceeds the annual free withdrawal limit). Refer to the Rate Buy Up Feature Brochure for details.
Rate Buy Up Feature
The Rate Buy Up Feature is available on each index crediting option. For a monthly charge, each Index Account using this feature in which the contract value is allocated, may provide the owner a higher interest credit rate through a higher cap, higher participation rate, and/ or lower spread as applicable. At the end of the surrender charge period, if the total Buy Up Costs are greater than the total index interest credits (including non Buy Up Options), then the excess of the total Buy Up Costs over the total index interest credits will be refunded to the contract’s Fixed Account. Please note: the refund of Buy Up Charges does not apply if an excess withdrawal is taken from the contract (an excess withdrawal is a withdrawal that exceeds the annual free withdrawal limit). Refer to the Rate Buy Up Feature Brochure for details.
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
|
|---|---|
|
Term
|
7 Years |
|
Surrender schedule
|
9%8.1%7.2%6.3%5.4%4.5%3.6% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$25,000 |
|
Types of funds
|
Non-Qualified, IRA, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.75%
Fixed
|
| 2-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread |
Point to Point
Biennial
|
220%
Participation
|
| 1-Year Morgan Stanley Global Equity Allocator PTP Participation Rate with Spread |
Point to Point
Annual
|
150%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.75%
Cap
|
| 1-Year Morgan Stanley Global Equity Allocator PTP Participation Rate with Spread |
Point to Point
Annual
|
185%
Participation
|
| 1-Year UBS Market Pioneers PTP Participation Rate with Spread |
Point to Point
Annual
|
165%
Participation
|
| 2-Year Morgan Stanley Global Equity Allocator PTP Participation Rate with Spread |
Point to Point
Biennial
|
230%
Participation
|
| 2-Year Morgan Stanley Global Equity Allocator PTP Participation Rate with Spread |
Point to Point
Biennial
|
285%
Participation
|
| 1-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread |
Point to Point
Annual
|
155%
Participation
|
| 2-Year S&P MARC 5% PTP Participation Rate with Spread |
Point to Point
Biennial
|
285%
Participation
|
| 1-Year UBS Market Pioneers PTP Participation Rate with Spread |
Point to Point
Annual
|
205%
Participation
|
| 2-Year UBS Market Pioneers PTP Participation Rate with Spread |
Point to Point
Biennial
|
265%
Participation
|
| 1-Year UBS Multi Asset Inflation Aware PTP Participation Rate with Spread |
Point to Point
Annual
|
200%
Participation
|
| 1-Year UBS Multi Asset Inflation Aware PTP Participation Rate with Spread |
Point to Point
Annual
|
245%
Participation
|
| 2-Year UBS Multi Asset Inflation Aware PTP Participation Rate with Spread |
Point to Point
Biennial
|
270%
Participation
|
| 2-Year UBS Multi Asset Inflation Aware PTP Participation Rate with Spread |
Point to Point
Biennial
|
335%
Participation
|
| 2-Year S&P 500 LV DRC 5% TR PTP Participation Rate with Spread |
Point to Point
Biennial
|
110%
Participation
|
| 1-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread |
Point to Point
Annual
|
125%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year S&P MARC 5% PTP Participation Rate with Spread |
Point to Point
Annual
|
230%
Participation
|
| 2-Year S&P 500 LV DRC 5% TR PTP Participation Rate with Spread |
Point to Point
Biennial
|
90%
Participation
|
| 2-Year S&P 500 Factor Rotator DRC2 7% ER PTP Participation Rate with Spread |
Point to Point
Biennial
|
215%
Participation
|
| 1-Year S&P 500 PTP Participation Rate with Spread |
Point to Point
Annual
|
80%
Participation
3%
Spread
|
| 1-Year S&P 500 Factor Rotator DRC2 7% ER PTP Participation Rate with Spread |
Point to Point
Annual
|
150%
Participation
|
| 2-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread |
Point to Point
Biennial
|
175%
Participation
|
| 1-Year S&P 500 PTP Participation Rate with Spread |
Point to Point
Annual
|
90%
Participation
3%
Spread
|
| 2-Year UBS Market Pioneers PTP Participation Rate with Spread |
Point to Point
Biennial
|
210%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
13.25%
Cap
|
| 2-Year S&P MARC 5% PTP Participation Rate with Spread |
Point to Point
Biennial
|
225%
Participation
|
| 1-Year S&P MARC 5% PTP Participation Rate with Spread |
Point to Point
Annual
|
185%
Participation
|
| 2-Year S&P 500 Factor Rotator DRC2 7% ER PTP Participation Rate with Spread |
Point to Point
Biennial
|
175%
Participation
|
| 1-Year S&P 500 Factor Rotator DRC2 7% ER PTP Participation Rate with Spread |
Point to Point
Annual
|
125%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 5% | 4% |