Momentum Growth Plus
In recent years, the Delaware Life Insurance Company has grown into a respected force in the retirement planning sector, being originally established in 2013. A proud subsidiary of Group 1001, Delaware Life offers flexibility to its customers through a variety of annuities, such as fixed, fixed-indexed, and variable annuities. Investing in such products allows customers to better save for retirement and receive a long-term income stream in the process. The company’s mission rests on being a reliable partner to its clients, empowering each one to take steps towards a comfortable retirement.
Momentum Growth Plus
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Ratings:
- A.M. Best A-
- Fitch A-
- S&P BBB+
- Comdex 55
About Product
Type
Fixed Index
Purpose
Accumulation
Premium Bonus
10%
Term
10 Years
Surrender schedule
10%9%8%7%6%5%4%3%2%1%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$25,000
Maximum Contribution
$1,000,000
Max Age Qualified
80
Types Of Funds
Non-Qualified, IRA, IRA Rollover, SEP IRA, and IRA-Roth
Launch Date
10/21/2024
Momentum Growth Plus fixed index annuity is a modified single premium insurance product that combines a premium bonus, principal protection and growth potential of a traditional bonus FIA, with a unique built-in feature called VersaGain.
VersaGain provides you with the flexibility to tailor your risk tolerance. At contract issuance, you’ll elect a Protected Auto-Credit Percentage, which can be adjusted annually to suit changing financial goals. This percentage, which applies to all index accounts within the contract, can be set at:
VersaGain provides you with the flexibility to tailor your risk tolerance. At contract issuance, you’ll elect a Protected Auto-Credit Percentage, which can be adjusted annually to suit changing financial goals. This percentage, which applies to all index accounts within the contract, can be set at:
- 0% Protected
- 50% Protected
- 100% Protected
This percentage determines the portion of the index interest or “Available Gain” you wish to protect each year with the option to use any remaining index interest to raise your crediting rates and potentially capture higher returns and accelerate growth. Please also note:
- Any index interest you choose to protect is safe and cannot be negatively affected by the market.
- You can change the amount you wish to protect at any time before the end of the term.
- How much or how little you protect depends on factors such as your overall risk tolerance and outlook on market conditions.
With VersaGain, you have the option to lock in an index value at any time during the year to capture Available Gain*. As a result, your Available Gain is locked in and secured for the remainder of the year, regardless of how markets perform. Each index account can be managed independently, so you can selectively lock in your Available Gains across different indexes based on your market outlook and financial goals.
*Please note that locking in your Available Gain before the end of a term will mean you won’t realize index interest up to the full Cap Rate or Participation Rate. A new index term will begin on the contract anniversary following the lock-in. The starting value for the following index term is not affected by the locked index value.
*Please note that locking in your Available Gain before the end of a term will mean you won’t realize index interest up to the full Cap Rate or Participation Rate. A new index term will begin on the contract anniversary following the lock-in. The starting value for the following index term is not affected by the locked index value.
Available in states:
AL, AK, AZ, AR, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.75%
Fixed
|
| 1-Year S&P 500 PTP Flexible Cap |
Point to Point
Annual
|
5.25%
Cap
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Flexible Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 12% PTP Flexible Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year Barclays Aries PTP Flexible Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 1-Year S&P 500 PTP Flexible Cap |
Point to Point
Annual
|
6.5%
Cap
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Flexible Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 12% PTP Flexible Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year Barclays Aries PTP Flexible Participation Rate |
Point to Point
Annual
|
70%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
No Riders for Momentum Growth Plus annuity.
Waivers
Death
Withdrawal Charges and MVA do not apply to death benefit payments.
Nursing Home
You may take a one-time withdrawal from your annuity, after the first contract anniversary, without a surrender charge or MVA if you are confined to a hospital or nursing facility for at least 90 days, as long as the contract is purchased before your 76th birthday.
Terminal Illness
After a period of one year, you may take a one-time withdrawal from your annuity without a surrender charge or MVA to pay for hospice care, as long as the contract is purchased before your 70th birthday.
Annuitization
Withdrawal Charges and MVA do not apply to the entire Account Value that is applied to an annuitization Settlement Option.
Premium Notes
Minimum initial premium payment
- $25,000 for both qualified and nonqualified money
Subsequent payments
- Available before your first contract anniversary (modified single premium index annuity)
- Minimum: $500
- Maximum total premium cannot exceed $1M without prior approval
- If you make any additional premium payments during the premium payment period, the premiums will be allocated to the Fixed Account.
- Subsequent premium not permitted after any owner/annuitant has attained age 80.
Withdrawal Provisions
Free withdrawal amount
10% of the total premium payments during the first contract year; greater of 10% of the last contract anniversary account value or required minimum distribution amount, if any, in the contract years thereafter.
Market value adjustment
Applies to withdrawals and surrenders greater than the free withdrawal amount; waived at death.
10% of the total premium payments during the first contract year; greater of 10% of the last contract anniversary account value or required minimum distribution amount, if any, in the contract years thereafter.
Market value adjustment
Applies to withdrawals and surrenders greater than the free withdrawal amount; waived at death.
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