Target Income 10
Highlights
Type
|
Fixed Index |
---|---|
Purpose | Lifetime Income |
Term
|
10 Years |
Surrender schedule
|
10%10%10%10%10%9%8%7%6%5% |
Free withdrawal
|
10% |
Flexible premium | Product Life |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
01/16/2018 |
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 Target Income 10 is the right product for you.
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
During 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.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
3.25%
Fixed
|
1-Year First Trust Capital Strength Barclays 5% PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
1-Year Morgan Stanley Global PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.5%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
27%
Participation
|
1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
1-Year Fixed Account |
Fixed
|
3.4%
Fixed
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
125%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.75%
Cap
|
1-Year Morgan Stanley Global PTP Participation Rate |
Point to Point
Annual
|
120%
Participation
|
1-Year First Trust Capital Strength Barclays 5% PTP Participation Rate |
Point to Point
Annual
|
120%
Participation
|
1-Year Fixed Account |
Fixed
|
3.5%
Fixed
|
1-Year First Trust Capital Strength Barclays 5% PTP Participation Rate |
Point to Point
Annual
|
125%
Participation
|
1-Year Morgan Stanley Global PTP Participation Rate |
Point to Point
Annual
|
125%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
32%
Participation
|
1-Year RBA Select Equity Yield CIBC 5% PTP Participation Rate |
Point to Point
Annual
|
130%
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
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.
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