Growth Commander 10 (Legacy Marketing Group)
Highlights
Participation rate guarantee — Rates won’t drop during the surrender period, eliminating the awkward renewal rate conversation (applies to Société Générale and Morgan Stanley 1- and 2-year index options).
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 |
Term
|
10 Years |
Surrender schedule
|
9%8.7%7.8%6.8%5.9%4.9%3.9%3%2%1% |
Free withdrawal
|
10% |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
02/15/2022 |
Minimum contribution
|
$10,000 |
Maximum contribution
|
$2,000,000 |
Max Age Qualified
|
85 |
Types of funds
|
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, and Inherited IRA |
Brochure
|
Open brochure |
Find out if the Growth Commander 10 (Legacy Marketing Group) is the right product for you.
Premium Notes
Markets
Accepts Q and NQ money; traditional, Roth, Inherited (spousal), and SEP IRAs; and non-contributory 403(b)/TSA plans.
Withdrawal Provisions
Contractually, one penalty-free withdrawal is allowed per year equal to 10% of the Accumulation Value as of the most recent contract anniversary. The minimum withdrawal amount is $500, with a minimum remaining surrender value of $2,000. Withdrawals will be taken from the Declared Interest Account on a last-in first-out (LIFO) basis first, and then any additional amounts will be taken from the indexed options on a LIFO basis.
By current company practice, multiple penalty-free withdrawals are allowed annually, provided the total does not exceed 10% of the Accumulation Value as of the most recent contract anniversary. Subsequent withdrawals after the first are based on the Accumulation Value at the time of the withdrawal. Also by current company practice, interest-only withdrawals may be taken from the Declared Interest Account in Year 1 after 30 days, subject to the annual 10% penalty-free withdrawal provision.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
4.25%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.1%
Cap
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
12.2%
Cap
|
1-Year SG Global Balanced PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
167%
Participation
|
1-Year SG Global Balanced PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
225%
Participation
|
2-Year SG Global Balanced PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
224%
Participation
|
2-Year SG Global Balanced PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
302%
Participation
|
1-Year Morgan Stanley Enhanced Allocation PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
153%
Participation
|
1-Year Morgan Stanley Enhanced Allocation PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
207%
Participation
|
2-Year Morgan Stanley Enhanced Allocation PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
236%
Participation
|
2-Year Morgan Stanley Enhanced Allocation PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
320%
Participation
|
1-Year S&P 500 IQ PTP Participation Rates |
Point to Point
Annual
|
96%
Participation
|
1-Year S&P 500 IQ PTP Participation Rates |
Point to Point
Annual
|
71%
Participation
|
1-Year S&P 500 IQ PTP Cap |
Point to Point
Annual
|
13.45%
Cap
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
No Riders for Growth Commander 10 (Legacy Marketing Group) annuity.
Waivers
Hospital
Unavailable in states: MA
In most states, if after the contract date you become confined to a hospital for at least 90 consecutive days, you may withdraw 100% of your Accumulation Value without incurring surrender charges. This is made available under the Waiver of Surrender Charges Upon Hospital Confinement Endorsement. Your withdrawal request and proof of confinement must be provided no later than 30 days after discharge.
Nursing Home
Unavailable in states: MA
In most states, if after the contract date you become confined to a nursing home for at least 90 consecutive days, you may withdraw 100% of your Accumulation Value without incurring surrender charges. This is made available under the Waiver of Surrender Charges Upon Nursing Home Confinement Endorsement. Your withdrawal request and proof of confinement must be provided no later than 30 days after discharge.
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