PrimeStart Bonus 10
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Highlights
PrimeStart Bonus 10 fixed index annuity is a flexible premium insurance product featuring a premium bonus. It combines growth potential—earn interest based on the performance of a specific market index, or a combination of indexes—with protection from market downturns.
Available in states:
AL, AK, AZ, AR, CA, 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
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Premium Bonus
|
10% |
|
Term
|
10 Years |
|
Surrender schedule
|
9%8%7.25%6.5%5.5%4.75%3.75%3%2%1% |
|
Free withdrawal
|
10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
03/18/2024 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
80 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and 1035 Exchange |
Brochure
|
Open brochure |
Find out if the PrimeStart Bonus 10 is the right product for you.
Premium Notes
A minimum premium payment of $25,000 is required for both qualified and non‐qualified contracts. Premium exceeding $1,000,000 will require prior Company approval. Any owner(s) and/or annuitant(s) must be between the ages of 18 and 80 as of the date you sign the application.
Subsequent payments not permitted after any owner/annuitant has attained age 85.
Subsequent payments not permitted after any owner/annuitant has attained age 85.
Withdrawal Provisions
Free withdrawal amount
10% of the total premium payments during the first contract year; Greater of 10% of the last contract anniversary value or required minimum distribution (RMD) 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 value or required minimum distribution (RMD) 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.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate with Volatility Limit with Flex-Lock |
Point to Point with Volatility Limit
Annual
|
70%
Participation
|
| 1-Year First Trust Capital Strength Barclays 10% PTP Enhanced Participation Rate with Volatility Limit with Flex-Lock |
Point to Point with Volatility Limit
Annual
|
90%
Participation
|
| 1-Year Franklin SG Select PTP Participation Rate with 2% Boost and Knockout with Flex-Lock |
Point to Point with Boost and Knockout
Annual
|
135%
Participation
|
| 1-Year Franklin SG Select PTP Enhanced Participation Rate with 2% Boost and Knockout with Flex-Lock |
Point to Point with Boost and Knockout
Annual
|
175%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3.25%
Fixed
|
| 1-Year S&P 500 PTP Enhanced Cap |
Point to Point
Annual
|
8.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.75%
Cap
|
| 1-Year Goldman Sachs Canopy PTP Participation Rate with Flex-Lock |
Point to Point
Annual
|
80%
Participation
|
| 1-Year Goldman Sachs Canopy PTP Enhanced Participation Rate with Flex-Lock |
Point to Point
Annual
|
105%
Participation
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
5.25%
Performance triggered
|
| 1-Year S&P 500 Enhanced Performance Triggered |
Performance Triggered
Annual
|
6.75%
Performance triggered
|
| 1-Year First Trust Capital Strength Barclays 10% PTP Enhanced Participation Rate with Volatility Limit with Flex-Lock |
Point to Point with Volatility Limit
Annual
|
100%
Participation
|
| 1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate with Volatility Limit with Flex-Lock |
Point to Point with Volatility Limit
Annual
|
80%
Participation
|
| 1-Year Franklin SG Select PTP Enhanced Participation Rate with 2% Boost and Knockout with Flex-Lock |
Point to Point with Boost and Knockout
Annual
|
185%
Participation
|
| 1-Year Franklin SG Select PTP Participation Rate with 2% Boost and Knockout with Flex-Lock |
Point to Point with Boost and Knockout
Annual
|
145%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3.5%
Fixed
|
| 1-Year Goldman Sachs Canopy PTP Enhanced Participation Rate with Flex-Lock |
Point to Point
Annual
|
115%
Participation
|
| 1-Year Goldman Sachs Canopy PTP Participation Rate with Flex-Lock |
Point to Point
Annual
|
85%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
40%
Participation
|
| 1-Year S&P 500 PTP Enhanced Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8%
Cap
|
| 1-Year S&P 500 Enhanced Performance Triggered |
Performance Triggered
Annual
|
7.5%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
6%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
No Riders for PrimeStart Bonus 10 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 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 to pay for hospice care.
Annuitization
Withdrawal Charges and MVA do not apply to the entire Account Value that is applied to an annuitization Settlement Option.
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