Power 10 Protector
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Highlights
The Power 10 Protector Index Annuity offers you a valuable combination of growth potential, tax deferral, and principal protection from market downturns. This blend of accumulation and protection features may be the solution to achieving the retirement you envision.
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 |
|---|---|
| Purpose | Accumulation |
|
Term
|
10 Years |
|
Surrender schedule
|
9%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
05/19/2014 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$2,000,000 |
|
Max Age Qualified
|
75 |
|
Types of funds
|
Non-Qualified, 401k, IRA, Spousal IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, Inherited IRA, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Find out if the Power 10 Protector is the right product for you.
Premium Notes
Issue Age
Power 10 Protector is available to individuals aged 18-75.
Premium
Power 10 Protector is available to individuals aged 18-75.
Premium
- Initial: $25,000 minimum (qualified and non-qualified)
- Subsequent: Only in the first 30 days after contract issue (as a Lump Sum or Periodic Payments). Minimum additional premium is $100.
- Requires prior company approval if total of all contracts issued to the same owner and/or annuitant exceeds $2 million
Note:
- TSP funds have to be rolled into an IRA.
- We allow inherited IRA/NQ assets so long as it is being stretched and provided no GLB is elected. We will not write any inherited fixed business and we will not write new business on inherited assets subject to either the 5-year or the 10-year rule.
Withdrawal Provisions
Free Withdrawals
After the first contract year, you can withdraw up to 10% of your contract value (based on your prior anniversary value) without incurring any company-imposed charges.
In some states Penalty-Free Withdrawals are available in the first contract year.
Withdrawal Charge
Withdrawals in excess of the Free Withdrawal amount are subject to withdrawal charges that decline over 10 years.
Market Value Adjustment (MVA)
Withdrawals in excess of the Free Withdrawal amount or amounts annuitized during the first 10 years are subject to an MVA. This adjustment may either increase or decrease the amount you receive and is determined by a formula in the contract that reflects changes in the Barclays US Credit Index yield since the contract was issued. The MVA may not apply in all states.
Minimum Withdrawal Value
Power 10 Protector guarantees that upon full surrender, payment of death benefit, or annuitization, you will never receive less than 87.5% of your premium, less withdrawals (excluding any withdrawal charge and MVA), growing at an annual rate as specified in your contract. State variations apply.
After the first contract year, you can withdraw up to 10% of your contract value (based on your prior anniversary value) without incurring any company-imposed charges.
In some states Penalty-Free Withdrawals are available in the first contract year.
Withdrawal Charge
Withdrawals in excess of the Free Withdrawal amount are subject to withdrawal charges that decline over 10 years.
Market Value Adjustment (MVA)
Withdrawals in excess of the Free Withdrawal amount or amounts annuitized during the first 10 years are subject to an MVA. This adjustment may either increase or decrease the amount you receive and is determined by a formula in the contract that reflects changes in the Barclays US Credit Index yield since the contract was issued. The MVA may not apply in all states.
Minimum Withdrawal Value
Power 10 Protector guarantees that upon full surrender, payment of death benefit, or annuitization, you will never receive less than 87.5% of your premium, less withdrawals (excluding any withdrawal charge and MVA), growing at an annual rate as specified in your contract. State variations apply.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.65%
Fixed
|
| 2-Year PIMCO Global Optima PTP Enhanced Participation Rate |
Point to Point
Biennial
|
120%
Participation
|
| 2-Year ML Strategic Balanced PTP Enhanced Participation Rate |
Point to Point
Biennial
|
175%
Participation
|
| 1-Year PIMCO Global Optima PTP Enhanced Participation Rate |
Point to Point
Annual
|
80%
Participation
|
| 2-Year ML Strategic Balanced PTP Participation Rate |
Point to Point
Biennial
|
120%
Participation
|
| 1-Year ML Strategic Balanced PTP Enhanced Participation Rate |
Point to Point
Annual
|
120%
Participation
|
| 2-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate |
Point to Point
Biennial
|
310%
Participation
|
| 2-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Biennial
|
80%
Participation
|
| 1-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate |
Point to Point
Annual
|
225%
Participation
|
| 2-Year AQR DynamiQ Allocation PTP Participation Rate |
Point to Point
Biennial
|
235%
Participation
|
| 1-Year AQR DynamiQ Allocation PTP Participation Rate |
Point to Point
Annual
|
148%
Participation
|
| 1-Year ML Strategic Balanced PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
42%
Participation
|
| 1-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.6%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
4.9%
Fixed
|
| 2-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate |
Point to Point
Biennial
|
320%
Participation
|
| 2-Year PIMCO Global Optima PTP Enhanced Participation Rate |
Point to Point
Biennial
|
125%
Participation
|
| 2-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Biennial
|
90%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 1-Year PIMCO Global Optima PTP Enhanced Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 2-Year ML Strategic Balanced PTP Enhanced Participation Rate |
Point to Point
Biennial
|
195%
Participation
|
| 2-Year ML Strategic Balanced PTP Participation Rate |
Point to Point
Biennial
|
140%
Participation
|
| 1-Year ML Strategic Balanced PTP Enhanced Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 1-Year AQR DynamiQ Allocation PTP Enhanced Participation Rate |
Point to Point
Annual
|
235%
Participation
|
| 2-Year AQR DynamiQ Allocation PTP Participation Rate |
Point to Point
Biennial
|
245%
Participation
|
| 1-Year AQR DynamiQ Allocation PTP Participation Rate |
Point to Point
Annual
|
158%
Participation
|
| 1-Year ML Strategic Balanced PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
47%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11%
Cap
|
| 1-Year PIMCO Global Optima PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
8.6%
Performance triggered
|
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
No Riders for Power 10 Protector annuity.
Waivers
Nursing Home
Contact us to get more information about this waiver.
Terminal Illness
Unavailable in states: CA, MA, and WA
To utilize this rider, an owner must be diagnosed with a Terminal Illness as defined in the rider. One partial or full withdrawal is permitted.
Extended Care
Unavailable in states: CA, and MA
To utilize this rider, an owner, after a 1-year deferral period, must receive qualifying Extended Care, which is treatment prescribed by a Qualified Physician, given by a Qualified Medical Professional and received by the owner while staying in a Qualified Institution for at least 90 consecutive days. The rider terminates when the owner turns age 86.
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