Brighthouse Fixed Rate Annuity
Highlights
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Premium Type
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Single Premium
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|---|---|
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Max age Qualified
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85
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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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10% |
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Launch date
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09/17/2018 |
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Types of funds
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Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, IRA-Roth, 1035 Exchange, and TSP |
Brochure
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Open brochure |
Free Withdrawal Amount
The following amounts may be withdrawn free of withdrawal charge:
- First contract year: 10% of the purchase payment
- Each year after the first contract year: 10% of the account value, as of the prior contract anniversary
- Withdrawals made to satisfy required minimum distributions (RMDs) for amounts held within the contract
During the initial guarantee period, if a withdrawal is made that exceeds the Free Withdrawal Amount, a Market Value Adjustment (MVA) may apply in addition to withdrawal charges. The adjustment to your withdrawal value could be positive or negative, based on current interest rates, relative to interest rates at issue. However, if you don’t plan on taking withdrawals during the initial guarantee period, you can take advantage of a higher Initial Guaranteed Interest Rate without being impacted by the MVA.
Return of Premium
The Principal Guarantee Rider may be elected at issue and cannot be canceled. Upon full withdrawal, the amount you are guaranteed to receive will be no less than the purchase payment, less any amounts previously withdrawn or applied to an annuity option and taxes. Withdrawal charges, if applicable, would not adjust a full withdrawal below the Principal Guarantee Amount. If elected, the Initial Guaranteed Interest Rate will be lower than without the rider.
Death Benefit
Upon the death of the owner, the beneficiary will receive the full account value (not subject to withdrawal charges) or the minimum withdrawal value, whichever is greater.
For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established.
Note: TSP funds have to be rolled into an IRA.
Find out if the Brighthouse Fixed Rate Annuity is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.5% |
| 5 years | 4.8% |
| 7 years | 4.85% |
Riders
No Riders for Brighthouse Fixed Rate Annuity annuity.
Waivers
Hospital
Unavailable in states: CA, MA, and SD
If you become confined to a nursing home and/or hospital for 90 consecutive days or more. Must be 80 years old or younger at contract issue.
Nursing Home
Unavailable in states: CA, MA, and SD
If you become confined to a nursing home and/or hospital for 90 consecutive days or more. Must be 80 years old or younger at contract issue. The nursing home waiver does not include home health care.
Terminal Illness
Unavailable in states: CA, and MA
If you are diagnosed with a terminal illness, with a life expectancy of 12 months or less. Must be 80 years old or younger at contract issue.
Surrender Window
Once the initial guarantee period you elect has ended, you are able to make withdrawals free of any withdrawal charge or MVA.
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