SecureKey 5
Highlights
Please note
- ReadyPay rider on 5-year product is not available to LPL, Wells Fargo, and Merrill Lynch;
- Participation Rate with Spread Strategies not available to Wells Fargo, Merrill Lynch, and Raymond James;
- Participation Rate Strategies not available to Wells Fargo and Merrill Lynch;
- S&P 500 LV DPR 5% index is not available to Merrill Lynch.
Type
|
Fixed Index |
---|---|
Purpose | Lifetime Income |
Term
|
5 Years |
Surrender schedule
|
9%8%7%6%5% |
Free withdrawal
|
10% |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
11/20/2023 |
Minimum contribution
|
$25,000 |
Maximum contribution
|
$1,000,000 |
Max Age Qualified
|
85 |
Types of funds
|
Non-Qualified, IRA, and IRA-Roth |
Brochure
|
Open brochure |
Find out if the SecureKey 5 is the right product for you.
Premium Notes
Withdrawal Provisions
Each year, you may withdraw a portion of your account value free of withdrawal charges or Market Value Adjustment, if applicable:
- Up to 10% of the purchase payment in the first contract year and 10% of the account value every year after as of the previous contract anniversary. The Free Withdrawal Amount is noncumulative and may not be carried over to the next contract year.
- Withdrawal charges will be waived on withdrawals made to satisfy required minimum distributions (RMDs) for amounts held within the contract.
If a withdrawal is made that exceeds the Free Withdrawal Amount, an MVA may apply in addition to withdrawal charges. The adjustment to your withdrawal value could be positive or negative (based on a formula using current interest rates) relative to interest rates at issue. On full withdrawals, the MVA is limited so that it will never adjust your account value below the Guaranteed Minimum Surrender Value. MVA may not be applicable in all states. Other terms and conditions apply.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
4%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.75%
Cap
|
1-Year MSCI EAFE PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
1-Year MSCI EAFE PTP Participation Rate with Spread |
Point to Point
Annual
|
55%
Participation
2%
Spread
|
1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
11.25%
Cap
|
1-Year Russell 2000 PTP Participation Rate with Spread |
Point to Point
Annual
|
55%
Participation
2%
Spread
|
1-Year S&P 500 LV DPR 5% PTP Cap |
Point to Point
Annual
|
13.75%
Cap
|
1-Year Russell 2000 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
11.25%
Cap
|
1-Year S&P 500 LV DPR 5% PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
1-Year S&P 500 PTP Participation Rate with Spread |
Point to Point
Annual
|
60%
Participation
2%
Spread
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
1-Year S&P 500 LV DPR 5% PTP Participation Rate with Spread |
Point to Point
Annual
|
115%
Participation
2%
Spread
|
1-Year S&P 500 LV DPR 5% Performance Triggered |
Performance Triggered
Annual
|
5.75%
Performance triggered
|
1-Year Russell 2000 Performance Triggered |
Performance Triggered
Annual
|
8%
Performance triggered
|
1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.75%
Performance triggered
|
1-Year MSCI EAFE Performance Triggered |
Performance Triggered
Annual
|
8%
Performance triggered
|
1-Year S&P 500 LV DPR 5% PTP Cap |
Point to Point
Annual
|
14%
Cap
|
1-Year S&P 500 LV DPR 5% PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
1-Year MSCI EAFE PTP Participation Rate with Spread |
Point to Point
Annual
|
60%
Participation
2%
Spread
|
1-Year MSCI EAFE PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
1-Year S&P 500 LV DPR 5% PTP Participation Rate with Spread |
Point to Point
Annual
|
120%
Participation
2%
Spread
|
1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
11.5%
Cap
|
1-Year Russell 2000 PTP Participation Rate with Spread |
Point to Point
Annual
|
60%
Participation
2%
Spread
|
1-Year Russell 2000 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
11.5%
Cap
|
1-Year S&P 500 PTP Participation Rate with Spread |
Point to Point
Annual
|
65%
Participation
2%
Spread
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11%
Cap
|
1-Year MSCI EAFE Performance Triggered |
Performance Triggered
Annual
|
8.25%
Performance triggered
|
1-Year Russell 2000 Performance Triggered |
Performance Triggered
Annual
|
8.25%
Performance triggered
|
1-Year S&P 500 LV DPR 5% Performance Triggered |
Performance Triggered
Annual
|
6%
Performance triggered
|
1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
8%
Performance triggered
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 |
---|---|---|---|---|---|
Penalty | 9% | 8% | 7% | 6% | 5% |
Riders
Name | Inbuilt | Fee |
---|---|---|
ReadyPay Rider | No | 1.00% annually |
Waivers
Hospital
If you or the joint covered person becomes confined to a nursing home or hospital for at least 90 consecutive days; confinement must start after the first contract year. Waiver is available if you or the joint covered person is age 80 or younger at issue. Other restrictions and condition may apply.
Nursing Home
If you or the joint covered person becomes confined to a nursing home or hospital for at least 90 consecutive days; confinement must start after the first contract year. Waiver is available if you or the joint covered person is age 80 or younger at issue. Other restrictions and condition may apply.
Terminal Illness
If you or the joint covered person is diagnosed with a terminal illness and not expected to live more than 12 months. Waiver is available if you or the joint covered person is age 80 or younger at issue. Other restrictions and condition may apply.
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