Synergy Choice Income
The Synergy Choice Income annuity is a dependable and user-friendly product. Its strong security offers you peace-of-mind and consistent income for your retirement years.
With it, you can customize your income-plan based on your needs. It's your personal pension that keeps your future prosperous and worry-free. Quite a smart choice for a comfortable life!
Ratings:
- A.M. Best A-
- Comdex 56
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.5%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
4.5%
Cap
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
9.5%
Cap
|
| 2-Year Citi Aria PTP Participation Rate |
Point to Point
Biennial
|
77%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
35%
Participation
|
| 1-Year Citi Aria PTP Participation Rate |
Point to Point
Annual
|
48%
Participation
|
| 1-Year GS Grand Prix PTP Participation Rate |
Point to Point
Annual
|
132%
Participation
|
| 2-Year GS Grand Prix PTP Participation Rate |
Point to Point
Biennial
|
190%
Participation
|
| 1-Year Fixed Account |
Fixed
|
2.75%
Fixed
|
| 2-Year Citi Aria PTP Participation Rate |
Point to Point
Biennial
|
85%
Participation
|
| 1-Year Citi Aria PTP Participation Rate |
Point to Point
Annual
|
54%
Participation
|
| 2-Year GS Grand Prix PTP Participation Rate |
Point to Point
Biennial
|
205%
Participation
|
| 1-Year GS Grand Prix PTP Participation Rate |
Point to Point
Annual
|
145%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
39%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
33%
Participation
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
10.5%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.25%
Cap
|
| 1-Year Invesco QQQ Growth PTP Cap |
Point to Point
Annual
|
5%
Cap
|
| 2-Year Invesco QQQ Growth PTP Participation Rate |
Point to Point
Biennial
|
75%
Participation
|
| 2-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Biennial
|
32%
Participation
|
| 1-Year Nasdaq-100 PTP Cap |
Point to Point
Annual
|
3.5%
Cap
|
| 2-Year Nasdaq-100 PTP Cap |
Point to Point
Biennial
|
7.5%
Cap
|
| 1-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Annual
|
27%
Participation
|
| 2-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Biennial
|
35%
Participation
|
| 1-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
| 2-Year Nasdaq-100 PTP Cap |
Point to Point
Biennial
|
9%
Cap
|
| 1-Year Nasdaq-100 PTP Cap |
Point to Point
Annual
|
4.25%
Cap
|
| 1-Year Invesco QQQ Growth PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 2-Year Invesco QQQ Growth PTP Participation Rate |
Point to Point
Biennial
|
80%
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 |
|---|---|---|
| Guaranteed Lifetime Income Benefit Rider | Yes | 0.50% annually (1.50% max) |
Waivers
Death
Your named beneficiaries will receive the Death Benefit with no Withdrawal Charge or MVA applied.
Nursing Home
You can withdraw up to 100% of your annuity’s Contract Value if you are confined to an eligible Nursing Home. This benefit is available if you are confined for at least 90 consecutive days any time after your first Contract Anniversary and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if you qualify for this benefit. To receive the Nursing Home Waiver, you cannot be confined on the Contract Effective Date.
Terminal Illness
You can withdraw up to 100% of your annuity’s Contract Value if you are diagnosed with a terminal illness that is expected to result in death within one year and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if you qualify for this benefit. This waiver is available after your first Contract Anniversary and the initial diagnosis of terminal illness must be made after the Contract Effective Date.
Premium Notes
May be issued as Non-Qualified, Traditional IRA, or Roth IRA Accepts rollovers from qualified plans, 457 plans, IRAs, Simplified Employee, Pension (SEP) plans, 403(b) plans, and SIMPLE IRAs. Note: Inherited IRA would be rolled over into a New Traditional IRA. If you already have an IRA, you can roll over the inherited assets to another traditional IRA in your name or convert the assets to a Roth IRA. The simplest way to do that is through a direct, trustee-to-trustee transfer from one account to the other or between one IRA custodian and another.
Withdrawal Provisions
Up to 10% of the Contract Value may be withdrawn without any Withdrawal Charge or Market Value Adjustment (MVA) after the first contract anniversary. A withdrawal from your Contract Value will reduce the GLWB rider’s Benefit Base (and thus the amount of future lifetime income withdrawals) proportionally prior to the rider's activation.
Required Minimum Distributions (RMD)
RMDs from your tax-qualified IRA available after 30 days. All other withdrawals are available at the beginning of year two.
Market Value Adjustment (MVA)
Subject to the exceptions stated in the contract, an MVA will be applied if part or all of the Contract Value is withdrawn above any allowable free amount. The MVA can be positive or negative.
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