Momentum Growth Plus
Momentum Growth Plus
About Product
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
- 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.
*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.
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
- $25,000 for both qualified and nonqualified money
- 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 amount10% 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.
- A.M. Best A-
- Fitch A-
- S&P BBB+
- Comdex 55
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