Index Select Annuity 7
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Highlights
The Index Select Annuity 7 (ISA) is a single-premium deferred indexed annuity with a 7-withdrawal charge period. You purchase the annuity with one premium payment, but premiums are accepted during the first 90 contract days to accommodate multiple roll-overs, transfers, and exchanges. The ISA is a fixed deferred annuity which means interest is earned during the accumulation phase and annuity payments are deferred until the annuity date or upon annuitization. The ISA is an indexed annuity that offers separate annuity account allocation options: (1) the Fixed Interest Account; and (2) the Index Interest Account. You may allocate a premium between the two accounts. The ISA’s principal and earnings are not subject to income taxes until funds are withdrawn or distributed. A 10% IRS early-withdrawal penalty may apply to withdrawals or distributions prior to age 59½.
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
|
9.4%8.5%7.5%6.5%5.5%4.5%3.5% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$15,000 |
|
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, Inherited IRA, and TSP |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.75%
Fixed
|
| 1-Year S&P 500 PTP Paticipation Rate |
Point to Point
Annual
|
48%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.25%
Cap
|
| 1-Year Fixed Account |
Fixed
|
4.75%
Fixed
|
| 1-Year S&P 500 PTP Paticipation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% |