Ameritas (Legacy Marketing Group) ApexAdvantage
Highlights
Please note this product is developed and marketed exclusively with Legacy Marketing Group.
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
10 Years |
|
Surrender schedule
|
9%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
06/20/2022 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$2,000,000 |
|
Max Age Qualified
|
85 |
|
Types of funds
|
Non-Qualified, 401k, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, 1035 Exchange, Inherited IRA, and NQ Stretch |
Brochure
|
Open brochure |
Find out if the Ameritas (Legacy Marketing Group) ApexAdvantage is the right product for you.
Premium Notes
Your annuity’s compound growth potential begins with your purchase amount, known as a premium. You can choose the premium payment that best helps you achieve your financial goals. Your initial premium amount can be as low as $25,000 or as high as $2,000,000. ApexAdvantage is a modified single premium annuity. As such, it allows premium payments to be made only during the first policy year. During the first policy year, if you decide you’d like to contribute more money to your annuity, you may add additional premium payments of at least $5,000, not to exceed $2,000,000 in total premium.
Markets
- Nonqualified money.
- Nonqualified stretch — spousal only.
- 401(a), 401(k), 457(b) — no GLWB.
- Rollover IRA (traditional).
- Custodial IRA.
- Inherited IRA — spousal only.
- SEP IRA.
- SIMPLE IRA.
- Roth IRA.
- Roth IRA conversion (full).
- Spousal Roth IRA — living spouse assumes deceased spouse’s Roth IRA.
- Charitable Remainder Annuity Trust.
- Charitable Remainder Trust.
- Charitable Remainder Unitrust.
- Corporation.
- Irrevocable Trust.
- Revocable Trust.
- Special Needs Trust.
- Net Income with Make-up Charitable Remainder Unitrust.
Withdrawal Provisions
A market value adjustment (MVA) is a positive or negative adjustment made to your withdrawal or surrender amount in response to market conditions. When a surrender charge is assessed, an MVA will apply on the amount you access. An MVA does not apply to penalty-free withdrawal amounts or after the surrender charge period ends. The MVA is calculated based on a formula that tracks the interest rate environment since you purchased your annuity. The MVA may increase or decrease the amount of the withdrawal or surrender. The actual MVA amount may vary by state, and an MVA may not be applicable in all states. Ask your insurance professional about any MVA in your state.
Penalty-Free Withdrawals
Each year after the first policy anniversary, you may withdraw up to 10% of the accumulation value as of the beginning of the policy year without incurring a surrender charge or market value adjustment. You are free to use this liquidity feature to respond to life’s unexpected events or for any reason.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.85%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
43%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
205%
Participation
|
| 1-Year BNPP US Governance Multi Asset PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
| 2-Year BNPP US Governance Multi Asset PTP Participation Rate |
Point to Point
Biennial
|
235%
Participation
|
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
| Name | Inbuilt | Fee |
|---|---|---|
| FutureNow Rider Level | No | 1.25% annually (2.50% after 10 years) (2.50% max) |
| FutureNow Rider Increasing | No | 1.25% annually (2.50% after 10 years) |
| FutureNow Rider Increasing With Booster | No | 1.35% annually (2.50% after 10 years) |
| FutureNow Rider Level With Booster | No | 1.35% annually (2.50% after 10 years) |
Waivers
Terminal Illness
If, after the policy begins, you become diagnosed with a terminal illness that results in a life expectancy of one year or less, surrender charges may be waived on withdrawals.
ADL
Unavailable in states: FL
If you need home health care services from a licensed home health care service agency due to impairment in performing at least two of six activities of daily living (bathing, continence, dressing, eating, toileting, and transferring) you may qualify for a waiver of surrender charges. You would be eligible for this waiver after the first policy anniversary, if the conditions are met. You must not have been confined or required home health care services within one year prior to the policy date.
Confinement
If you become confined for at least 30 consecutive days to a qualified institution, surrender charges may be waived on withdrawals. To qualify for the waiver, you must not have been confined within one year prior to the policy date.
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