Power 5 Protector
The Power 5 Protector is a fantastic piece of the retirement planning puzzle. It's got stellar stability, making it a safe bet for securing your future. You can rest easy, knowing you'll always have a reliable income stream.
What stands out is its flexibility. Power 5 Protector allows you to control when and how you receive payments. It's a thoughtfully crafted annuity product to fit anyone's retirement plan. Perfect for those who value security and independence!
Power 5 Protector
About Product
RJ Banks
RJ Banks version of this product does not offer 5-yr S&P 500 PTP, PIMCO Crediting Strategies, or 2-yr MLSB PTP strategy
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.45%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
37%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
47%
Participation
|
| 2-Year PIMCO Global Optima PTP Enhanced Participation Rate |
Point to Point
Biennial
|
113%
Participation
|
| 1-Year PIMCO Global Optima PTP Enhanced Participation Rate |
Point to Point
Annual
|
78%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for Power 5 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.
Premium Notes
- 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
Withdrawal Provisions
Penalty Free Withdrawal After the first contract year, you can withdraw up to 10% of the previous contract anniversary contract value (which includes any interest credited on that date). Note: Penalty-free withdrawals are not permitted during the first contract year, unless it is a withdrawal of the RMD (some states require that the 10% penalty-free withdrawal be available in the first contract year). Minimum Withdrawal ValueThe Minimum Withdrawal Value is equal to: 87.5% of premiums (90% in New Jersey) less any withdrawals (excluding any withdrawal charges or any applicable MVA associated with those withdrawals) accumulated at a rate specified in the contract.
- A.M. Best A
- Fitch A+
- S&P A+
- Moody's A2
- Comdex 80
