Target Growth 10
Target Growth 10
Ratings:
- A.M. Best A-
- Fitch A-
- S&P BBB+
- Comdex 55
About Product
Flex-Lock index account options
Flex-lock index account options guarantee that the initial crediting rate set at issue will not change for the length of the surrender charge period. These options are only available at issue and may not be available with all index options.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
4.6%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
6.85%
Performance triggered
|
1-Year Fixed Account |
Fixed
|
4.85%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.5%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.85%
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 2% Boost and Knockout with Flex-Lock |
Point to Point with Boost and Knockout
Annual
|
170%
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 2% 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 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Penalty | 10% | 10% | 10% | 10% | 10% | 9% | 8% | 7% | 6% | 5% |
Riders
No Riders for Target Growth 10 annuity.
Waivers
Bail-Out
Target Growth 10 comes with a free “bailout” benefit that enables you to make full or partial withdrawals from the contract without a surrender charge or market value adjustment if the renewal cap for the 1-year point-to-point S&P 500 Index falls below the bailout cap rate. (The cap is the maximum interest your FIA can earn in a year.)
Nursing Home
Waives early withdrawal charges after first contract anniversary, for a one-time withdrawal 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. The nursing home waiver does not include home health care.
Terminal Illness
Waives early withdrawal charges after first contract anniversary, for a one-time withdrawal if you have a terminal illness.
Premium Notes
Minimum: $25,000
Maximum: $1,000,000 per owner(s) without Delaware Life approval
Minimum additional: $500
Additional premiums can be added systematically, monthly, quarterly, annually.
Subsequent payments not permitted after any owner/annuitant has attained age 85.
Withdrawal Provisions
In the first contract year, 10% of total premiums paid or required minimum distribution (RMD), if greater, can be withdrawn free of surrender charges. In the second contract year and thereafter, 10% of the most recent contract anniversary value or RMD, if greater, can be withdrawn free of surrender charges.
Retirement Withdrawal Options
- Withdraw as needed
- Make systematic withdrawals
- Annuitize payments
- Take required minimum distributions (RMDs)