Ultimate One Index 7
The Ultimate One Index 7 is a fantastic annuity choice for those looking towards retirement. It stands out with robust returns and the comfort of a seven-year term. The smart index-linked feature means your investment can grow along with the market.
Best of all, you do not have to worry about market downsides, as your original investment is always protected. It truly offers a great combination of growth potential and security. A perfect companion for your golden years.
Ultimate One Index 7
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.1%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
49%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.2%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
81%
Participation
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
12.45%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for Ultimate One Index 7 annuity.
Waivers
Hospital
Unavailable in states: MA
Access your entire Accumulation Value with no Surrender Charges if you are confined to a qualified nursing home or hospital for at least 90 consecutive days, with the Waiver of Surrender Charge Upon Nursing Home or Hospital Confinement Endorsement.
Nursing Home
Unavailable in states: MA
Access your entire Accumulation Value with no Surrender Charges if you are confined to a qualified nursing home or hospital for at least 90 consecutive days, with the Waiver of Surrender Charge Upon Nursing Home or Hospital Confinement Endorsement. The nursing home waiver does not include home health care.
Annuitization
5x5 annuitization option – after the 5th policy year, surrender charges are waived if annuitization is over at least five years
Confinement
Unavailable in states: MA
Access your entire Accumulation Value with no Surrender Charges if you are confined to a qualified nursing home or hospital for at least 90 consecutive days, with the Waiver of Surrender Charge Upon Nursing Home or Hospital Confinement Endorsement. The nursing home waiver does not include home health care.
Withdrawal Provisions
Guaranteed Minimum ValueThe Guaranteed Minimum Value is equal to the single premium received, less any Partial Surrenders and any applicable Premium Tax, accumulated at the Guaranteed Minimum Value interest rate (guaranteed to be no less than 1% and no more than 3%), less than Surrender Charges.WithdrawalsEach 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.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.Cash Surrender ValueCash surrender value is the greater of theAccumulation Value less Surrender Charges and any applicable Premium Tax, or Guaranteed Minimum Value.Income OptionsThe Accumulation Value may be converted into a guaranteed income after the fifth policy year. Income must be taken over at least five years. Various income options are available, including single and joint life options:Life income onlyLife income with fixed period certainFixed period certain onlyJoint and survivor
- A.M. Best A
- Moody's A3
- Comdex 70
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