Omega Bonus Plus 10 (Variation States)
About Product
- At or nearing retirement
- Looking for a growth opportunity for the assets they cannot afford to lose
- Seeking stability and confidence for their retirement strategy
- Wanting an increased premium bonus to help jump-start their accumulation
- Seeking additional liquidity through an Enhanced Free Withdrawal benefit
- Concerned about market losses and sudden swings
- Increased Premium Bonus to jump-start growth
- Asset growth and security
- Enhanced Free Withdrawal for additional liquidity
- Annual cost of 0.95% for the Premium Bonus Rider
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account Group B |
Fixed
Annual
|
2.65%
Fixed
|
| 1-Year Nasdaq Night Owl PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
31%
Participation
|
| 1-Year S&P MARC 5 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
81%
Participation
|
| 1-Year Dynamic Balanced Asset 10 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
44%
Participation
|
| 1-Year Strategic Dynamic Balanced Asset 8 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
55%
Participation
|
| 1-Year Multi-Asset Dynamic Managed 5 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
87%
Participation
|
| 1-Year S&P 500 PTP Cap Group B |
Point to Point
Annual
|
4.75%
Cap
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Guaranteed Cap Group B |
Point to Point
Annual
|
6%
Cap
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
29%
Participation
|
| 1-Year Fixed Account Group B |
Fixed
Annual
|
3.05%
Fixed
|
| 1-Year Nasdaq Night Owl PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
37%
Participation
|
| 1-Year S&P MARC 5 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
98%
Participation
|
| 1-Year Dynamic Balanced Asset 10 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
53%
Participation
|
| 1-Year Strategic Dynamic Balanced Asset 8 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
66%
Participation
|
| 1-Year Multi-Asset Dynamic Managed 5 PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
105%
Participation
|
| 1-Year S&P 500 PTP Cap Group B |
Point to Point
Annual
|
5.75%
Cap
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Guaranteed Cap Group B |
Point to Point
Annual
|
7%
Cap
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Guaranteed Participation Rate Group A |
Point to Point
Annual
|
35%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Annual Rider fee | Yes | 0.95% annually |
Waivers
Death
Surrender charges do not apply as a result of the death of the Annuitant.
Nursing Home
Unavailable in states: CA
Provides access to Contract Value without surrender charge or Market Value Adjustment (MVA) if the owner requires hospital or nursing home confinement for at least 30 consecutive days. The nursing home waiver may be available in year 1 as long as the annuitant has been confined to a qualified Hospital or Nursing Facility for at least 30 consecutive days, the confinement began after the contract date, the annuitant was not older than 80 on the contract date, and proof of confinement is received while the annuitant is confined or within 90 days following discharge from the facility.
Annuitization
Surrender charges do not apply under certain annuitization scenarios.
RMD
Omega Bonus Plus 10 is designed to be RMD-friendly. Beginning in the second calendar year after your contract is issued, and once you reach your required beginning age, the amount the IRS requires you to withdraw from this contract each year is available without a surrender charge — even if it exceeds your free-withdrawal amount.
Premium Notes
Minimum initial premium: $25,000. Maximum premium: $1,500,000 (higher amounts subject to carrier approval).
Annual Contract Fee
None.
Withdrawal Provisions
Free Withdrawal AmountBeginning in the second contract year, 10% of the beginning Index Year Contract Value may be withdrawn without incurring any surrender charges or MVA.Market Value Adjustment (MVA)An adjustment applied to your contract's value or withdrawal amount if you withdraw more than the contract allows in a single year. A Market Value Adjustment is subject to current market conditions, and could affect your contract's value or withdrawal amount positively or negatively, but cannot reduce your contract's value to less than the Guaranteed Minimum Surrender Value (GMSV).
- A.M. Best A
- Fitch A
- Moody's Baa1
- Comdex 74
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