ClassicMark 10 LT (Legacy Marketing Group)
The ClassicMark 10 LT annuity product by Legacy Marketing Group is a dependable choice that offers stability and peace of mind. Perfect for retirees, it delivers a steady income, safeguarding your golden years.
This annuity stands out for its easy-to-understand terms and robust benefits. It's a smart, future-proof choice that protects your lifestyle and comfort.
ClassicMark 10 LT (Legacy Marketing Group)
Ratings:
- A.M. Best A
- Moody's A3
- Comdex 70
About Product
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
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 5-Year SG Columbia Adaptive Risk Allocation FUSION Participation Rate with Fixed rate on Gain |
FUSION
5-Year
|
121%
Participation
6%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
4.3%
Fixed
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
71%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.65%
Cap
|
| 1-Year SG Columbia Adaptive Risk Allocation PTP Participation Rate |
Point to Point
Annual
|
176%
Participation
|
| 1-Year Gold PTP Participation Rate |
Point to Point
Annual
|
52%
Participation
|
| 2-Year SG Columbia Adaptive Risk Allocation PTP Participation Rate |
Point to Point
Biennial
|
242%
Participation
|
| 2-Year SG Laser PTP Participation Rate |
Point to Point
Biennial
|
240%
Participation
|
| 1-Year SG Laser PTP Participation Rate |
Point to Point
Annual
|
174%
Participation
|
| 1-Year S&P 500 IQ PTP Participation Rate |
Point to Point
Annual
|
74%
Participation
|
| 1-Year S&P 500 IQ PTP Cap |
Point to Point
Annual
|
14.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Heritage Maximizer | No | 0.30% annually |
Waivers
Hospital
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. Waiver of surrender charges does not apply for 5x5 annuitization.
Nursing Home
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. Waiver of surrender charges does not apply for 5x5 annuitization.
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 accumulation value annually after 30 days. RMDs accepted Year 1 per company practice.
- Waiver for nursing home or hospital confinement (Not available in MA), and for annuitization after five years.
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