SPDA with Free Withdrawal Waiver
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Highlights
Premium Type
|
Single Premium
|
---|---|
Max age Qualified
|
90
|
Minimum Contribution
|
$2,000
|
Maximum Contribution
|
$500,000
|
Market value adjustment
|
|
Return of premium
|
|
Free withdrawal
|
-100% |
Launch date
|
09/01/2017 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and Inherited IRA |
Brochure
|
Open brochure |
This is a Single Premium Deferred Annuity contract, which is a long-term contract. Additional premiums may not be added in the future. You choose the guaranteed rate period that is best for you. This period begins on the date of issue and ends on the last day of the chosen period.
Death Benefits
Death Benefits are equal to the account value upon death of the owner.
If the owner's spouse is the sole beneficiary, the spouse may continue the policy in his or her own name.
No Sales Charges or Fees
There are no annual maintenance fees and no front-end sales loads.
Market Value Adjustment
When you make a withdrawal, we also may increase or decrease the amount you receive based on a market value adjustment (MVA). If interest rates went up after you bought your annuity, the MVA likely will decrease the amount you receive. If interest rates went down, the MVA will likely increase the amount you receive.
Exceptions to Surrender Charges & MVA
Death Benefits
Death Benefits are equal to the account value upon death of the owner.
If the owner's spouse is the sole beneficiary, the spouse may continue the policy in his or her own name.
No Sales Charges or Fees
There are no annual maintenance fees and no front-end sales loads.
Market Value Adjustment
When you make a withdrawal, we also may increase or decrease the amount you receive based on a market value adjustment (MVA). If interest rates went up after you bought your annuity, the MVA likely will decrease the amount you receive. If interest rates went down, the MVA will likely increase the amount you receive.
Exceptions to Surrender Charges & MVA
- You may withdraw 100% of your accumulated interest and RMD free of all charges at any time.
Free Withdrawal Waiver Rider
By selecting this rider, the 10% annual free withdrawal included in the policy will be waived and any withdrawal of the Single Premium Payment amount will incur withdrawal charges as detailed below
By selecting this rider, the 10% annual free withdrawal included in the policy will be waived and any withdrawal of the Single Premium Payment amount will incur withdrawal charges as detailed below
Find out if the SPDA with Free Withdrawal Waiver is the right product for you.
MYGA Interest Rates
Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
---|---|
3 years | 4.4% |
5 years | 5.2% |
7 years | 5.2% |
10 years | 5.2% |
Riders
Name | Inbuilt | Fee |
---|---|---|
SPDA Free Withdrawal Waiver Rider | No |
Waivers
Death
In the event of owner death, withdrawal charges and MVA are waived and benefits equal the account balance
Annuitization
You may elect to annuitize at any time after the first year from a number of options. Surrender charges and MVA are waived with a payout period of 5 years or longer
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