Shield Level Select 6-Year NY
Highlights
|
Type
|
Registered Index-Linked |
|---|---|
| Purpose | Accumulation |
|
Term
|
6 Years |
|
Surrender schedule
|
7%7%6%5%4%3% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
07/24/2017 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
85 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, Stretch IRA, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Find out if the Shield Level Select 6-Year NY is the right product for you.
Premium Notes
- TSP funds have to be rolled into an IRA.
- If a NQ contract has already been stretched, we would not allow for a beneficiary to continue the payments or “inherit” the contract.
- We will issue Inherited IRAs allowing for the Life Expectancy IRS exception (stretch) for Eligible Designated Beneficiaries (i.e., normal IRA stretch rules). This includes spouses and beneficiaries no more than 10 years younger than the original IRA owner
Withdrawal Provisions
After the first contract year, the Free Withdrawal Amount is equal to 10% of the account value as of the prior contract anniversary. In addition, there are other situations where a withdrawal charge may not apply.
Automated Withdrawals
A scheduled stream of monthly, quarterly, or annual withdrawals that may be taken from specified Shield Options and/or the Fixed Account, or proportionally from all Shield Options and the Fixed Account, as allocated. Automated required minimum distributions (RMDs) are available in any contract year. Automated withdrawals for purposes other than RMDs are available after the first contract year and may be subject to withdrawal charges if they exceed the Free Withdrawal Amount in a contract year. Other restrictions apply.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.5%
Fixed
|
| 6-Year S&P 500 PTP Cap Shield 10 |
Point to Point
6-Year
|
500%
Cap
|
| 1-Year MSCI EAFE PTP Cap Shield 10 |
Point to Point
Annual
|
17%
Cap
|
| 1-Year Russell 2000 PTP Cap Shield 10 |
Point to Point
Annual
|
19.5%
Cap
|
| 1-Year S&P 500 PTP Cap Shield 10 |
Point to Point
Annual
|
14%
Cap
|
| 3-Year MSCI EAFE PTP Cap Shield 15 |
Point to Point
Triennial
|
80%
Cap
|
| 3-Year MSCI EAFE PTP Cap Shield 10 |
Point to Point
Triennial
|
130%
Cap
|
| 3-Year Russell 2000 PTP Cap Shield 15 |
Point to Point
Triennial
|
55%
Cap
|
| 3-Year Russell 2000 PTP Cap Shield 10 |
Point to Point
Triennial
|
90%
Cap
|
| 3-Year S&P 500 PTP Cap Shield 15 |
Point to Point
Triennial
|
70%
Cap
|
| 3-Year S&P 500 PTP Cap Shield 10 |
Point to Point
Triennial
|
130%
Cap
|
| 6-Year MSCI EAFE PTP Cap Shield 25 |
Point to Point
6-Year
|
110%
Cap
|
| 6-Year MSCI EAFE PTP Cap Shield 15 |
Point to Point
6-Year
|
200%
Cap
|
| 6-Year MSCI EAFE PTP Cap Shield 10 |
Point to Point
6-Year
|
300%
Cap
|
| 6-Year Russell 2000 PTP Cap Shield 25 |
Point to Point
6-Year
|
75%
Cap
|
| 6-Year Russell 2000 PTP Cap Shield 15 |
Point to Point
6-Year
|
90%
Cap
|
| 6-Year Russell 2000 PTP Cap Shield 10 |
Point to Point
6-Year
|
130%
Cap
|
| 6-Year S&P 500 PTP Cap Shield 25 |
Point to Point
6-Year
|
100%
Cap
|
| 6-Year S&P 500 PTP Cap Shield 15 |
Point to Point
6-Year
|
350%
Cap
|
| 1-Year S&P 500 Shield 10 with Step Rate |
Performance Triggered
Annual
|
9.5%
Performance triggered
|
| 1-Year Russell 2000 Shield 10 with Step Rate |
Performance Triggered
Annual
|
11.75%
Performance triggered
|
| 1-Year MSCI EAFE Shield 10 with Step Rate |
Performance Triggered
Annual
|
8.5%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Penalty | 7% | 7% | 6% | 5% | 4% | 3% |
Riders
No Riders for Shield Level Select 6-Year NY annuity.
Waivers
Nursing Home
After the first contract year, we will waive the withdrawal charge if you or the joint owner becomes confined to a hospital and/or nursing home for at least 90 days. Confinement must start after the first contract year. Available to purchasers age 80 or younger at contract issue. The nursing home waiver does not include home health care. Not available in all states. Other restrictions apply. See the prospectus for further details.
Terminal Illness
After the first contract year, we will waive the withdrawal charge if you or the joint owner becomes terminally ill and is not expected to live more than 12 months. Available to purchasers age 80 or younger at contract issue. Not available in all states. Other restrictions apply. See the prospectus for further details.
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