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-brochure Ultimate One Index 7-brochure

Ultimate One Index 7

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Ratings:

  • A.M. Best A
  • Moody's A3
  • Comdex 70

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About Product

Type
Fixed Index
Purpose
Accumulation
Term
7 Years
Surrender schedule
9%8.5%8%7%6%5%4%
Fee withdrawal:
10%
Market Value Adjustment
No
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
90
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, KEOGH, IRA-Roth, 1035 Exchange, and Inherited IRA
Launch Date
12/09/2005
Ultimate One Index 7, offered by Americo Financial Life and Annuity Insurance Company, is an indexed single premium deferred annuity based on the performance of the S&P 500 Index. 

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, PR, RI, SC, SD, TN, TX, UT, VA, WA, WV, WI, and WY

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
52% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.25% Cap
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
86% Participation
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
14% Cap

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 9% 8% 7% 6% 5% 4%

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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.

Premium Notes

Note: Inherited IRA is taken as a Spousal Inherited IRA 

Withdrawal Provisions

Guaranteed Minimum Value
The 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.

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.
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 Value
Cash surrender value is the greater of the
  • Accumulation Value less Surrender Charges and any applicable Premium Tax, or 
  • Guaranteed Minimum Value.
Income Options
The 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 only
  • Life income with fixed period certain
  • Fixed period certain only
  • Joint and survivor 

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