TruStage MaxProtect
Highlights
Premium Type
|
Single Premium
|
---|---|
Min age Qualified
|
21
|
Max age Qualified
|
85
|
Minimum Contribution
|
$10,000
|
Maximum Contribution
|
$1,000,000
|
Market value adjustment
|
|
Return of premium
|
|
Free withdrawal
|
10% |
Launch date
|
09/21/2020 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, Inherited IRA, and NQ Stretch |
Brochure
|
Open brochure |
Following your initial guarantee period, you move into a one-year guarantee period. A renewal rate will be declared for the one-year period and could change annually.
Guarantee your retirement income. When you’re ready to begin receiving guaranteed retirement income, you have flexible annuitization options. Annuitization means turning your accumulated retirement savings into a stream of income payments. You can choose from a wide range of payment options to help meet your retirement goals.
- Fixed Installment Income. Offers you fixed guaranteed income payments for a selected number of years. Payments can be monthly, quarterly, semi-annually or annually.
- Fixed Life Income. Payments are fixed and guaranteed for your lifetime (single), or the lifetime of both you and another individual (joint).
- Annual free withdrawal amount: 10% of your Purchase Payment in year one, or your last anniversary contract value, available annually without surrender charge.
- Health hardship withdrawals: You have total access to contract value without surrender charge in certain times of need:
- If confined to nursing home or hospital for 90 consecutive days after issue.
- If diagnosed as terminally ill with life expectancy of less than one year.
- Required minimum distributions (RMDs): Available on tax-qualified contracts without surrender charge only if taken under an automatic withdrawal program.
The amount of an adjustment (increase or decrease) that may be applied to amounts withdrawn in excess of the annual free withdrawal amount. The market value adjustment (MVA) may be positive or negative.
Return of Principal Guarantee benefit
Guarantees that the surrender value of the contract will never be less than the initial purchase payment adjusted for any previous withdrawals. This is an optional benefit.
Death benefit
Equal to full contract value without surrender charge. Spouse beneficiary may be able to continue the contract.
Note: carrier accepts Inherited/beneficiary IRA as a rollover.
Find out if the TruStage MaxProtect is the right product for you.
MYGA Interest Rates
Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
---|---|
3 years | 4.75% |
5 years | 4.55% |
7 years | 4.6% |
Riders
No Riders for TruStage MaxProtect annuity.
Waivers
Nursing Home
You have total access to contract value without surrender charge If confined to nursing home or hospital for 90 consecutive days after issue. In certain states, civil union partners or domestic partners, depending on state law, are recognized as spouses to the extent allowed under federal tax law. In New Jersey, partners may continue the contract for up to 5 years. Consult a licensed tax professional for tax advice. The nursing home waiver does not include home health care.
Terminal Illness
You have total access to contract value without surrender charge If diagnosed as terminally ill with life expectancy of less than one year.
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