Americo Elite 5
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Highlights
The Americo Elite 5 is a competitive indexed single-premium deferred annuity with an automatically renewing 5-year surrender charge period and a 5-year index period.
Available in states:
AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, 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
|
5 Years |
|
Surrender schedule
|
8%8%7%6%5% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
05/21/2021 |
|
Minimum contribution
|
$10,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
90 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, and Inherited IRA |
Brochure
|
Open brochure |
Find out if the Americo Elite 5 is the right product for you.
Premium Notes
Minimum Premium
$10,000 Minimum allocation to any one Index Interest Option or the Declared Account is $50.
Maximum Premium
$1,000,000 without prior Home Office approval.
Note: Inherited IRA is taken as a Spousal Inherited IRA
$10,000 Minimum allocation to any one Index Interest Option or the Declared Account is $50.
Maximum Premium
$1,000,000 without prior Home Office approval.
Note: Inherited IRA is taken as a Spousal Inherited IRA
Withdrawal Provisions
Withdrawals
Each year after the first year, 10% of the Accumulation Value may be withdrawn penalty-free. The minimum withdrawal is $500. The minimum remaining surrender value can be no less than $2,000.
After the end of every automatically renewing 5-year term, the owner has 30 days to request a penalty-free full or partial surrender of the contract.
By company practice, multiple penalty-free withdrawals are allowed so long as the total is below the maximum of 10%. Subsequent withdrawals after the first year are based on the accumulation value at the time of the withdrawal.
Withdrawals will be taken from the Declared Interest Account on a “last-in first-out” (LIFO) basis. Any additional amounts needed will be taken from index options on a LIFO basis. Systematic monthly interest income is available after 30 days from the Declared Interest Account as a current company practice.
Surrender charges will be assessed on Required Minimum Distributions in excess of the penalty-free amount.
Each year after the first year, 10% of the Accumulation Value may be withdrawn penalty-free. The minimum withdrawal is $500. The minimum remaining surrender value can be no less than $2,000.
After the end of every automatically renewing 5-year term, the owner has 30 days to request a penalty-free full or partial surrender of the contract.
By company practice, multiple penalty-free withdrawals are allowed so long as the total is below the maximum of 10%. Subsequent withdrawals after the first year are based on the accumulation value at the time of the withdrawal.
Withdrawals will be taken from the Declared Interest Account on a “last-in first-out” (LIFO) basis. Any additional amounts needed will be taken from index options on a LIFO basis. Systematic monthly interest income is available after 30 days from the Declared Interest Account as a current company practice.
Surrender charges will be assessed on Required Minimum Distributions in excess of the penalty-free amount.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.95%
Fixed
|
| 1-Year Dow Jones US Real Estate PTP Participation Rate |
Point to Point
Annual
|
61%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year NASDAQ Biotechnology PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year Technology Select Sector PTP Participation Rate |
Point to Point
Annual
|
41%
Participation
|
| 1-Year Health Care Select Sector PTP Participation Rate |
Point to Point
Annual
|
66%
Participation
|
| 5-Year Dow Jones US Real Estate PTP Final Average Participation Rate |
Point to Point
5-Year
|
136%
Participation
|
| 5-Year S&P 500 PTP Final Average Participation Rate |
Point to Point
5-Year
|
107%
Participation
|
| 5-Year NASDAQ Biotechnology PTP Final Average Participation Rate |
Point to Point
5-Year
|
83%
Participation
|
| 5-Year Technology Select Sector PTP Final Average Participation Rate |
Point to Point
5-Year
|
82%
Participation
|
| 5-Year Health Care Select Sector PTP Final Average Participation Rate |
Point to Point
5-Year
|
126%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% |
Riders
No Riders for Americo Elite 5 annuity.
Waivers
Nursing Home
Unavailable in states: MA
After contract issue, if the Owner is confined for at least 90 consecutive days in a qualified nursing home or hospital, all surrender charges will be waived. The surrender request plus proof of confinement must be received in the Home Office no later than 30 days after discharge. This Rider is automatically added to every contract issued at no additional cost. The nursing home waiver does not include home health care.
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