Single Premium Deferred Annuity

Single premium deferred annuity designed to accumulate funds for retirement.

Premium
Minimum premium: $10,000
Maximum premium: $250,000 (Issue age 86 and over: $100,000)
No additional premium accepted after issue.

Interest Rates
The guaranteed minimum interest rate for the contract is set at issue. At issue, the current interest rate will be credited to the certificate for the first year. Thereafter, on each anniversary, the then-current interest rate will be credited to the certificate for the next certificate year.

First Year Bonus Rate (Bonus requires a minimum deposit of $10,000.  
A 0.75% interest rate  on premiums above $10,000 bonus will be paid during the first year. (This amount is subject to change for new contracts, but will not change on a contract after it is issued.)

Death Benefit
Upon death of the annuitant, the account value (before surrender charges) will be paid.

Free Withdrawals
After the first year, one withdrawal per year of up to 5% of the account value may be taken without a surrender charge. For qualified annuities, any Required Minimum Distribution is not subject to surrender charges and is in addition to the once a year free withdrawal.

Annuitization Payment Options