SPDA with Free Withdrawal Waiver
Looking for a long-term investment that puts you in control? The SPDA with Free Withdrawal Waiver is just that! Select the rate period that best fits your life and enjoy peace of mind knowing you're making a secure choice. On top of that, you won't have to face any annoying annual fees or sales charges.
The added bonus is the flexibility this annuity gives to your loved ones. With death benefits equaling the account value, your spouse could even continue the policy. The Free Withdrawal Waiver rider caps off this excellent product by enabling withdrawal of the single premium payment amount. Secure your future with SPDA!
SPDA with Free Withdrawal Waiver
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.2% |
| 5 years | 5% |
| 7 years | 5% |
| 10 years | 5% |
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.
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
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
- A.M. Best B++
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