ClassicMark 10 (Legacy Marketing Group)
Highlights
Please note this product is developed and marketed exclusively with Legacy Marketing Group.
For more information about submitting New Business applications, please contact the Legacy Marketing Group sales desk directly at 800-395-1053, Ext 4002
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation & Legacy |
|
Term
|
10 Years |
|
Surrender schedule
|
13%12%11%10.5%10%9%8%7%6%5% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$10,000 |
|
Maximum contribution
|
$2,000,000 |
|
Max Age Qualified
|
90 |
|
Types of funds
|
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, and Inherited IRA |
Brochure
|
Open brochure |
Find out if the ClassicMark 10 (Legacy Marketing Group) is the right product for you.
Premium Notes
- $10 000 minimum, Qualified and NQ.
- $2 million maximum per owner without Home Office approval or commission reduction ($1 million on bonus products for issue ages 75+).
Withdrawal Provisions
- Up to 10% of the accumulation value annually after 30 days. RMDs accepted Year 1 per company practice. First-year liquidity, penalty-free. Withdrawals may be subject to ordinary income tax, and a 10% IRS penalty may apply to withdrawals taken before age 59½.
- Waiver for nursing home or hospital confinement (Not available in MA), and for annuitization after five years.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 5-Year SG Columbia Adaptive Risk Allocation FUSION Participation Rate with Fixed rate on Gain |
FUSION
5-Year
|
153%
Participation
6%
Performance triggered
|
| 1-Year Fixed Account (Most States) |
Fixed
|
4.6%
Fixed
|
| 1-Year Fixed Account (SD Only) |
Fixed
|
4.6%
Fixed
|
| 1-Year SG Columbia Adaptive Risk Allocation PTP Participation Rate |
Point to Point
Annual
|
190%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
77%
Participation
|
| 1-Year Gold PTP Participation Rate |
Point to Point
Annual
|
57%
Participation
|
| 2-Year SG Columbia Adaptive Risk Allocation PTP Participation Rate |
Point to Point
Biennial
|
263%
Participation
|
| 1-Year S&P 500 IQ PTP Cap |
Point to Point
Annual
|
15.8%
Cap
|
| 1-Year S&P 500 IQ PTP Participation Rate |
Point to Point
Annual
|
77%
Participation
|
| 1-Year SG Laser PTP Participation Rate |
Point to Point
Annual
|
189%
Participation
|
| 2-Year SG Laser PTP Participation Rate |
Point to Point
Biennial
|
261%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 13% | 12% | 11% | 11% | 10% | 9% | 8% | 7% | 6% | 5% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Heritage Maximizer | No | 0.30% annually |
Waivers
Hospital
Unavailable in states: MA
Under ClassicMark’s Waiver of Surrender Charges Upon Nursing Home or Hospital Confinement Endorsement (Endorsement Series 4139), you may withdraw up to 100% of your Accumulation Value without incurring surrender charges if you become confined to a nursing home or hospital. To be eligible, confinement must begin after the contract date and last for at least 90 consecutive days. Your withdrawal request and proof of confinement must be provided no later than 30 days after discharge.
Nursing Home
Unavailable in states: MA
Under ClassicMark’s Waiver of Surrender Charges Upon Nursing Home or Hospital Confinement Endorsement (Endorsement Series 4139), you may withdraw up to 100% of your Accumulation Value without incurring surrender charges if you become confined to a nursing home or hospital. To be eligible, confinement must begin after the contract date and last for at least 90 consecutive days. Your withdrawal request and proof of confinement must be provided no later than 30 days after discharge.
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