Growth Pathway 7
Highlights
- Market Downside Protection – Your gains are locked in each year, meaning you can’t lose any of your payments or any credited interest due to market downturns or sudden market swings.
- Tax-deferred growth – You’ll have access to crediting strategies to help your money grow - four index options and one fixed account option. You can diversify your annuity by choosing one or a combination of strategies. And you won’t pay taxes on gains until you withdraw them. And the combination of compounded gains and a potentially lower tax bracket after you retire can help make your retirement savings go farther.
Type
|
Fixed Index |
---|---|
Purpose | Accumulation |
Term
|
7 Years |
Surrender schedule
|
9%8%7%6%5%4%3% |
Free withdrawal
|
10% |
Flexible premium | Product Life |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
09/13/2021 |
Minimum contribution
|
$10,000 |
Maximum contribution
|
$1,000,000 |
Max Age Qualified
|
80 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, and IRA-Roth |
Brochure
|
Open brochure |
Find out if the Growth Pathway 7 is the right product for you.
Premium Notes
$10,000 for both qualified and nonqualified money; flexible premium deferred annuity.
Subsequent payments
Minimum: $500
Maximum: Total purchase payments cannot exceed $1M without prior approval.
Additional premiums can be added systematically, monthly, quarterly, annually.
Subsequent payments not permitted after any owner/annuitant has attained age 85.
Withdrawal Provisions
You can take 10% of the total purchase payments during the first contract year. After the first contract year, you may take 10% of the last contract anniversary value. Both options are free of surrender charges and any applicable Market Value Adjustment. You have full access to the account value in your annuity after five or seven years, depending on which product you choose.
Partial or full withdrawals
You have the flexibility, should you need it, to take more than your free withdrawal amount. If you elect to withdraw more, please note that surrender charges and a Market Value Adjustment (MVA) may apply.
Required Minimum Distributions (RMDs)
If you are required to take a RMD starting at age 72, and that RMD is more than your 10% free withdrawal, you may take the entire RMD without a surrender charge.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
4.3%
Fixed
|
1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
1-Year S&P 500 PTP Cap (7-Year Lock) |
Point to Point
Annual
|
7.75%
Cap
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.75%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
1-Year S&P 500 PTP Participation Rate with Spread |
Point to Point
Annual
|
60%
Participation
2%
Spread
|
1-Year Morgan Stanley Global Opportunities PTP Participation Rate |
Point to Point
Annual
|
145%
Participation
|
1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.5%
Performance triggered
|
1-Year S&P 500 Performance Triggered (7-Year Lock) |
Performance Triggered
Annual
|
6.25%
Performance triggered
|
1-Year Fixed Account |
Fixed
|
4.6%
Fixed
|
1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate |
Point to Point
Annual
|
85%
Participation
|
1-Year Morgan Stanley Global Opportunities PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
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
|
60%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.25%
Cap
|
1-Year S&P 500 PTP Cap (7-Year Lock) |
Point to Point
Annual
|
8.75%
Cap
|
1-Year S&P 500 Performance Triggered (7-Year Lock) |
Performance Triggered
Annual
|
6.75%
Performance triggered
|
1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
8.25%
Performance triggered
|
1-Year Fixed Account |
Fixed
|
4.85%
Fixed
|
1-Year S&P 500 PTP Participation Rate with Spread |
Point to Point
Annual
|
70%
Participation
2%
Spread
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11.25%
Cap
|
1-Year Morgan Stanley Global Opportunities PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
1-Year S&P 500 PTP Cap (7-Year Lock) |
Point to Point
Annual
|
9.25%
Cap
|
1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
195%
Participation
|
1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
8.75%
Performance triggered
|
1-Year S&P 500 Performance Triggered (7-Year Lock) |
Performance Triggered
Annual
|
7.25%
Performance triggered
|
1-Year Franklin SG Select Advantage PTP Participation Rate |
Point to Point
Annual
|
110%
Participation
|
1-Year Janus Henderson Adaptive Market Leaders U.S. PTP Participation Rate |
Point to Point
Annual
|
125%
Participation
|
1-Year Invesco QQQ ETF PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
1-Year Franklin SG Select Advantage PTP Participation Rate |
Point to Point
Annual
|
125%
Participation
|
1-Year Janus Henderson Adaptive Market Leaders U.S. PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
1-Year Invesco QQQ ETF PTP Cap |
Point to Point
Annual
|
9%
Cap
|
1-Year Invesco QQQ ETF PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
1-Year Janus Henderson Adaptive Market Leaders U.S. PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
1-Year Franklin SG Select Advantage PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|
Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
No Riders for Growth Pathway 7 annuity.
Waivers
Bail-Out
Allows for full or partial withdrawals without surrender charge or MVA if renewal cap for the S&P 500 1-year point-to-point strategy is below the bailout cap rate. No index allocation required, and the benefit is provided to the owner at no additional cost.
Nursing Home
After a period of one year, you may withdraw money from your annuity without a surrender charge to pay for an eligible nursing home or hospice care. Contract must be purchased prior to owner’s attained age of 76 for the nursing home waiver. The nursing home waiver does not include home health care.
Terminal Illness
After a period of one year, you may withdraw money from your annuity without a surrender charge to pay for an eligible nursing home or hospice care
Annuitization
Available one year from contract issue: 1) Single-life only; 2) Single-life with 10 – 30-year period certain; 3) Joint and survivor life
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