Ultimate One Index 7
Highlights
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
7 Years |
|
Surrender schedule
|
9%8.5%8%7%6%5%4% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
12/09/2005 |
|
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 |
Brochure
|
Open brochure |
Find out if the Ultimate One Index 7 is the right product for you.
Premium Notes
Withdrawal Provisions
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Each year after the first year, 10% of the Accumulation Value may be withdrawn penalty-free.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.
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
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.4%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
54%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.55%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
92%
Participation
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
17.5%
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.
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