Synergy Choice Max 5
Highlights
Ownership Requirements
Owner must be the annuitant, except when a trust is the owner.
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
5 Years |
|
Surrender schedule
|
9%8%7%6%5% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
11/07/2022 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
90 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, and TSP |
Brochure
|
Open brochure |
Find out if the Synergy Choice Max 5 is the right product for you.
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
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Up to 10% of the Contract Value may be withdrawn without any Withdrawal Charge or Market Value Adjustment (MVA) after the first contract anniversary.
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.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.75%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11%
Cap
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
19.5%
Cap
|
| 2-Year Citi Aria PTP Participation Rate |
Point to Point
Biennial
|
158%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
62%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
72%
Participation
|
| 1-Year Citi Aria PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
| 1-Year GS Grand Prix PTP Participation Rate |
Point to Point
Annual
|
225%
Participation
|
| 2-Year GS Grand Prix PTP Participation Rate |
Point to Point
Biennial
|
300%
Participation
|
| 1-Year Fixed Account |
Fixed
|
5%
Fixed
|
| 2-Year Citi Aria PTP Participation Rate |
Point to Point
Biennial
|
165%
Participation
|
| 1-Year Citi Aria PTP Participation Rate |
Point to Point
Annual
|
110%
Participation
|
| 2-Year GS Grand Prix PTP Participation Rate |
Point to Point
Biennial
|
315%
Participation
|
| 1-Year GS Grand Prix PTP Participation Rate |
Point to Point
Annual
|
235%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
75%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
21%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11.75%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% |
Riders
No Riders for Synergy Choice Max 5 annuity.
Waivers
Bail-Out
You have the option of withdrawing your Contract Value if the S&P500 annual point-to-point cap renewal rate falls below the stated bailout cap rate at contract issue.
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.
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