Target Income 10
The Target Income 10 annuity is a great financial tool for those planning for retirement. This plan offers consistent income and attractive growth potential that can really ease one's golden years.
Most praised is the flexibility and control it provides over your investment. Plus, the guaranteed income feature ensures peace of mind. This annuity truly makes retirement planning less daunting.
Target Income 10
About Product
Preset Allocation Option
As an alternative, you could elect one of the preset portfolio options. Precision Portfolios offer a one-step, tailored way to diversify your retirement savings portfolio. These two well-balanced multi-index allocation strategies are constructed using set percentage allocations to the individual index strategies we offer from S&P, Janus Henderson, Invesco, Franklin Templeton, and First Trust, coupled with an allocation to the fixed account.
Precision Portfolio Option 1
S&P 500 1-year Point-to-Point with Cap: 10%
S&P 500 1-year Performance Trigger: 20%
Invesco QQQ ETF: 25%
Janus Henderson Adaptive Market Leaders U.S. Index: 30%
Fixed Account: 15%
Precision Portfolio Option 2
S&P 500 1-year Point-to-Point with Cap: 10%
S&P 500 1-year Performance Trigger: 10%
Invesco QQQ ETF: 15%
Janus Henderson Adaptive Market Leaders U.S. Index: 20%
First Trust Capital Strength® Barclays 10% Index: 15%
Franklin SG Select Advantage Index: 15%
Fixed Account: 15%
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.15%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.25%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3.3%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
33%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year Fixed Account |
Fixed
|
3.4%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.75%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
| 1-Year Franklin SG Select Advantage PTP Participation Rate |
Point to Point
Annual
|
80%
Participation
|
| 1-Year Janus Henderson Adaptive Market Leaders U.S. PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year Invesco QQQ ETF PTP Cap |
Point to Point
Annual
|
5.25%
Cap
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
4.5%
Performance triggered
|
| 1-Year Franklin SG Select Advantage PTP Participation Rate |
Point to Point
Annual
|
85%
Participation
|
| 1-Year Invesco QQQ ETF PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
| 1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 1-Year Janus Henderson Adaptive Market Leaders U.S. PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
4.75%
Performance triggered
|
| 1-Year Franklin SG Select Advantage PTP Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 1-Year Janus Henderson Adaptive Market Leaders U.S. PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
| 1-Year First Trust Capital Strength Barclays 10% PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 1-Year Invesco QQQ ETF PTP Cap |
Point to Point
Annual
|
5.75%
Cap
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
5%
Performance triggered
|
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
| Name | Inbuilt | Fee |
|---|---|---|
| Delaware GLWB Rider | Yes | 1.05% annually |
Waivers
Nursing Home
Unavailable in states: CA
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
Unavailable in states: CA
No early withdrawal charges after the 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.
Withdrawal Provisions
Access to your moneyDuring the first 10 years of your annuity contract, you can withdraw up to 10% of the value of your annuity account each year without paying any extra “early surrender” charges. You also can take fee-free withdrawals for required minimum distributions (RMDs) and money to pay for nursing home or hospice care (subject to state availability and restrictions). Any early withdrawals taken in excess of these amounts will be subject to the surrender charges specified in your contract. They also reduce your future retirement earnings potential and may result in a market value adjustment to your surrender value, depending on how interest rates have changed since you first purchased your annuity (not applicable in every state). After 10 years, you can take withdrawals of any amount without surrender fees. The taxable portion of any withdrawal is taxed as ordinary income and you may have to pay a 10% federal tax penalty if you are younger than age 59½.
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- S&P A-
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