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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

Power Index Preferred

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Highlights

Power Index Preferred focusing on asset accumulation with no guaranteed living benefit rider.
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, 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
7 Years
Surrender schedule
8%7%6%5%4%3%2%
Free withdrawal
1st year: 0%
2nd+ year: 10%
Market value adjustment
Return of premium
Launch date
03/01/2016
Minimum contribution
$25,000
Maximum contribution
$2,000,000
Max Age Qualified
85
Types of funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, Stretch IRA, Inherited IRA, NQ Stretch, and TSP
Brochure
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Find out if the Power Index Preferred is the right product for you.

Premium Notes

Premium 
  •  Initial: $25,000 minimum (qualified and non-qualified) 
  • Subsequent: Only in the first 30 days after contract issue 
  • 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

Withdrawals
Can be taken at any time (minimum $1,000 per withdrawal), or you can set up a systematic withdrawal program to receive regular, scheduled amounts (minimum of $100 per withdrawal). The minimum remaining contract value after any withdrawal must be $2,500.

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.

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4.85% Fixed
1-Year ML Strategic Balance PTP Participation Rate
Point to Point
Annual
95% Participation
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
10.5% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
10.5% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
10.5% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
47% Participation
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
8% Performance triggered
1-Year Fixed Account
Fixed
5.1% Fixed
1-Year ML Strategic Balance PTP Participation Rate
Point to Point
Annual
115% Participation
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
11.5% Cap
1-Year Russell 2000 PTP Cap
Point to Point
Annual
11.5% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
11.5% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
50% Participation
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
9% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 8% 7% 6% 5% 4% 3% 2%

Riders

No Riders for Power Index Preferred annuity.

Waivers

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. The Terminal Illness must be diagnosed by a Qualified Physician in writing supported by clinical, radiological or laboratory evidence and must not have been diagnosed before the contract issue date.

Extended Care

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.

ADL

Unavailable in states: CA, CT, and MA

To utilize this rider, an owner, after a 1-year deferral period, must be unable to perform two of six Activities of Daily Living for at least 90 consecutive days, as certified by a Licensed Health Care Practitioner. The six Activities of Daily Living are Bathing, Continence, Dressing, Eating, Toileting and Transferring; they are detailed in the rider.

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