Retirement Stages Select 7
Highlights
Retirement Stages Select may be a good fit if:
- You are at or nearing retirement
- You are seeking downside protection for money you can’t afford to lose
- You are looking for opportunities to grow your nest egg without putting it at risk
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
7 Years |
|
Surrender schedule
|
8%7%6%5%4%3%2% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
04/24/2023 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
85 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and 1035 Exchange |
Brochure
|
Open brochure |
Find out if the Retirement Stages Select 7 is the right product for you.
Premium Notes
18-85
Premium
- Minimum initial premium payment: $25,000 for both qualified and nonqualified money; Flexible premium deferred annuity
- Subsequent payments: Minimum: $500; Maximum total premium cannot exceed $1M without prior approval.
- Subsequent payments not permitted after any owner/annuitant has attained age 85
Withdrawal Provisions
After the first contract year, you may take up to 10% of the last contract anniversary value or a Required Minimum Distribution (RMD), if greater, without a surrender charge or MVA
Market value adjustment
Applies to withdrawals and surrenders greater than the free withdrawal amount; Waived at death.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.85%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year First Trust Capital Strength Barclays 5% PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 1-Year Morgan Stanley Global Opportunities PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.75%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
5.1%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year First Trust Capital Strength Barclays 5% PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
| 1-Year Morgan Stanley Global Opportunities PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
8.5%
Performance triggered
|
| 1-Year First Trust Capital Strength Barclays 10% PTP 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 Boost and Knockout with Flex-Lock |
Point to Point with Boost and Knockout
Annual
|
175%
Participation
|
| 1-Year Goldman Sachs Canopy PTP Participation Rate with Flex-Lock |
Point to Point
Annual
|
105%
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
|
100%
Participation
|
| 1-Year Franklin SG Select PTP Participation Rate with Boost and Knockout with Flex-Lock |
Point to Point with Boost and Knockout
Annual
|
190%
Participation
|
| 1-Year Goldman Sachs Canopy PTP Participation Rate with Flex-Lock |
Point to Point
Annual
|
115%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 8% | 7% | 6% | 5% | 4% | 3% | 2% |
Riders
No Riders for Retirement Stages Select 7 annuity.
Waivers
Bail-Out
You may make a full or one-time partial withdrawal from your annuity without a surrender charge or MVA if the renewal cap rate for the S&P 500 1-year point-topoint with cap index strategy falls below the bailout cap rate.
Death
Market value adjustment waived at death.
Nursing Home
Unavailable in states: CA
After a period of one year, you may withdraw money from your annuity without a surrender charge to pay for an eligible nursing home. Contract must be purchased prior to owner’s attained age of 76 for the nursing home waiver.
Terminal Illness
Unavailable in states: CA
After a period of one year, you may withdraw money from your annuity without a surrender charge to pay for an eligible hospice care.
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