Retirement Plus Multiplier 5
The Retirement Plus Multiplier 5 is a gem! It promises consistent income after retirement so you can live your golden years without financial worries. It even provides an increasing income to cope with inflation.
Your hard-earned money can now get even better returns over time. Set your retirement worries aside and enjoy the peace this annuity offers. A truly wise investment for a worry-free future!
Retirement Plus Multiplier 5
About Product
Atlantic Coast Life Insurance Company launched a new feature for the Retirement Plus Multiplier (RPM) Annuity that will offer even more flexibility. On the contract anniversary coinciding with the end of a strategy’s crediting period, contract owners will now be able to reallocate the account value from that strategy to any of the RPM's one, two, or three-year crediting strategies. For example, if your client has premium allocated to a 1-year strategy and a 3-year strategy, at the end of the 1-year strategy’s crediting period they can allocate those funds to a new 1, 2, or 3-year strategy while their other 3-year strategy is still at play. With more options, your clients will be able to more easily try out different RPM growth strategies to best suit their needs.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 1-Year Aging of America PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 3-Year Aging of America PTP Participation Rate |
Point to Point
Triennial
|
250%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
28%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
38%
Participation
|
| 2-Year Aging of America PTP Participation Rate |
Point to Point
Biennial
|
200%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Income Multiplier GLWB Rider | Yes | 0.95% annually |
Waivers
Nursing Home
Up to a full surrender may be available if terminally ill or nursing home confinement occurs after the first contract year. The nursing home waiver does not include home health care.
Terminal Illness
Up to a full surrender may be available if terminally ill or nursing home confinement occurs after the first contract year.
Withdrawal Provisions
Free WithdrawalsThe Retirement Plus Multiplier Annuity offers several options to access your money without being subject to surrender charges or market value adjustments, including:During the first contract year, you can withdraw the interest that will be earned on funds allocated to the fixed account or a Required Minimum Distribution. Required Minimum Distributions are available penalty free in all years;After the first contract year, you can withdraw up to 5% of your accumulation value or Required Minimum Distribution, whichever is greater;If you are diagnosed with a terminal illness or confined to a nursing home after the first contract year, you can make a full surrender or partial withdrawal under certain conditions;After the fifth contract year, you can apply the accumulation value of the contract to purchase a settlement option to provide income;You can take up to two withdrawals in a contract year as long as your accumulation value does not go below $2,500. Withdrawals must be at least $250.AnnuitizationAfter the fifth Contract Year (In Florida, you may annuitize after the 1st policy anniversary), the entire Accumulation Value can be used to purchase one of the Settlement Options. Surrender Charges and the Market Value Adjustment would not apply. Option 1: Life Income OnlyOption 2: Life Income with Guaranteed Period Certain Option 3: Period Certain Only
- A.M. Best B++
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