WealthLock MYGA Plus
Highlights
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Premium Type
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Single Premium
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|---|---|
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Min age Qualified
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18
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Max age Qualified
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90
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Minimum Contribution
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$25,000
|
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Maximum Contribution
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$1,000,000
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Market value adjustment
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Return of premium
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Free withdrawal
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1st year: -100% 2nd+ year: 10% |
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Launch date
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12/12/2022 |
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Types of funds
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Non-Qualified, IRA, IRA Rollover, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, Inherited IRA, and TSP |
Brochure
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Open brochure |
Access to Funds
- You can withdraw up to 10% of your contract value each year free of charge after the first year.
- You can withdraw any RMD required by the IRS after 30 days, even if it exceeds the free withdrawal amount.
- You also have access to 100% of your contract value after the first year in the event you are confined to a nursing home or diagnosed with a terminal illness.
- Free Interest Withdrawal available 30 days after the Effective Date. May be withdrawn no more frequently than monthly.
- Withdrawals in the first year of the guarantee period and amounts greater than the 10% free amount will be subject to an early withdrawal charge and market value adjustment. You have access to 100% of your contract value after the guarantee period.
If the market index interest rates are higher than when you purchased the annuity, the MVA amount will be negative, decreasing your withdrawal amount and/or annuity balance. If market index interest rates are lower than when you purchased the annuity, the MVA is positive, increasing your withdrawal amount and/or annuity balance. The MVA does not impact Annuitization Options or the Minimum Guaranteed Surrender Value, and will only apply during the surrender charge schedule.
Find out if the WealthLock MYGA Plus is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 2 years | 4.95% |
| 3 years | 5.25% |
| 5 years | 5.35% |
| 7 years | 5.35% |
Riders
No Riders for WealthLock MYGA Plus annuity.
Waivers
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 at the time your contract is issued and confinement must begin at least one year after 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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