AssetShield 7
AssetShield 7 annuity is a great tool for securing your future. Its flexibility with premium payments and a 7-year surrender period make it super beneficial for retirement planning.
One more feather in its cap is its commonsense approach to market downturns - you won't lose a dime! Now that's a reassurance we all need.
AssetShield 7
About Product
Premium Allocations
The initial premium payment can be allocated, in any combination, to either the fixed interest or any of the index strategies. Payments received after the initial premium automatically go into the fixed interest strategy. The Contract Values may be reallocated on the contract anniversary between strategies subject to this minimum:
- The minimum allocation for each value is $1,000.
- The minimum transfer to select a new value is 10% of the Contract Value.
More options for magnified growth potential. In exchange for a fee, this rider provides the opportunity to increase the cap, participation rate or replacement rate on elected index-linked crediting strategies. The rider fee is locked-in for the surrender charge schedule and deducted on the last day of each term.
Rider Charge - Account Fee
The rider charge is the amount deducted on the last day of each indexed strategy term from each indexed strategy to which the rider is applied. To calculate the rider charge, the rider fee (1.5% for monthly and annual point-to-point strategies and 3% for 2-year point to point strategies) is multiplied by the strategy value of the corresponding indexed strategy on the first day of each term. The rider fee will not change during the surrender charge period and will never be more than the maximum rider fee of 3%.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year S&P 500 PTP NeXt Monthly Sum Replacement Rate |
NeXt
Annual
Monthly sum
|
0.1%
Cap
|
| 1-Year S&P 500 PTP NeXt Monthly Sum Replacement Rate |
NeXt
Annual
Monthly sum
|
1.2%
Cap
|
| 1-Year Fixed Account |
Fixed
|
2.75%
Fixed
|
| 1-Year BlackRock Adaptive U.S. Equity 7% PTP Participation Rate |
Point to Point
Annual
|
110%
Participation
|
| 1-Year BlackRock Adaptive U.S. Equity 7% PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.8%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year SG Global Sentiment PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
| 1-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
| 1-Year UBS Tech Edge PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
| 1-Year BofA Destinations PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
| 1-Year SG Global Sentiment PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year UBS Tech Edge PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year BofA Destinations PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.9%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 4% | 2% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Rate Integrity Rider | Yes |
Waivers
Death
The Death Benefit is paid with no Surrender Charges.
Enhanced Benefit
Unavailable in states: CA
This rider provides both a qualified nursing care benefit and terminal illness benefit. After the first contract year, a one-time free withdrawal of up to 100% of the contract value is allowed if 1) the owner is confined to a qualified nursing care facility for a minimum of 90 days and confinement begins after the contract issue date; OR 2) the owner is diagnosed with a terminal illness after the contract is issued. Written proof is required. Included automatically for ages 75 and under for AssetSheild Series.
Premium Notes
- $5,000
- 18-69: $1,500,000
- 70-74: $1,000,000
- 75-80: $750,000
- 81-85: $500,000
Additional premium payments can be added either lump sum or systematic whenever.
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
Free WithdrawalsThis is an opportunity each year (after the first contract year) to take Free Withdrawals up to 10% of the Contract Value. For Cumulative withdrawals, American Equity allows 10% of the contract value after the 1st contract year. The free withdrawal percentage is never more than 10%. Systematic Withdrawal of interest only from the Fixed Value, available after 30 days.Death BenefitDeath Benefit proceeds are paid to the surviving joint owner. If there is no surviving joint owner, the Death Benefit is paid to the named beneficiary(ies) with no Surrender Charges. Generally paid in the lump-sum, other payment options are also available.
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