Retirement Plus Multiplier 5 with Income Multiplier GLWB
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Highlights
Atlantic Coast Life Retirement Plus Multiplier Annuity is a 5, 7, or 10 years, single premium, deferred annuity with four different index crediting strategies in addition to a fixed account. Two optional riders are available, the Growth Benefit (Accumulation Buy-up Rider) and the Income Multiplier (Guaranteed Lifetime Withdrawal Benefit), one of which may be selected.
Please note the Income Multiplier Rider is inbuilt into this product.
Maximize potential for your financial growth with the Income Multiplier rider. Choosing this option will heighten your income potential. You will not outlive the benefit of withdrawals, even after the total withdrawal of the accumulation value.
Please note the Income Multiplier Rider is inbuilt into this product.
Maximize potential for your financial growth with the Income Multiplier rider. Choosing this option will heighten your income potential. You will not outlive the benefit of withdrawals, even after the total withdrawal of the accumulation value.
- Access a lifetime of income allowance
- Complement up to 100% of your initial investment with an income bonus
Products with Growth Benefit and with no rider are available separately.
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.
Available in states:
AL, AZ, AR, CO, FL, GA, HI, IL, IN, IA, KS, KY, LA, MD, MA, MS, MO, MT, NE, NV, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
5 Years |
|
Surrender schedule
|
10%9%8%7%6% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
09/24/2018 |
|
Minimum contribution
|
$5,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
85 |
|
Types of funds
|
Non-Qualified, 401k, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, 1035 Exchange, Stretch IRA, Inherited IRA, and TSP |
Brochure
|
Open brochure |
Find out if the Retirement Plus Multiplier 5 with Income Multiplier GLWB is the right product for you.
Withdrawal Provisions
Free Withdrawals
The Retirement Plus Multiplier Annuity offers several options to access your money without being subject to surrender charges or market value adjustments, including:
The 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.
Annuitization
After 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 Only
- Option 2: Life Income with Guaranteed Period Certain
- Option 3: Period Certain Only
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4%
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
|
11.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
60%
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.
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