Pinnacle Plus
Highlights
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Premium Type
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Single Premium
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|---|---|
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Min age Qualified
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18
|
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Max age Qualified
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85
|
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Minimum Contribution
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$25,000
|
|
Maximum Contribution
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$1,000,000
|
|
Market value adjustment
|
|
|
Return of premium
|
|
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Free withdrawal
|
10% |
|
Launch date
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04/24/2023 |
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Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and 1035 Exchange |
Brochure
|
Open brochure |
Pinnacle Plus could be a good fit if you are looking for:
- Protection of your principal
- A guaranteed, fixed interest rate for the period you select
- Tax-deferred growth until you take withdrawals
Your money goes to work for you immediately, earning the specified rate for the period you select, regardless of what happens to the stock market or interest rates. As long as you hold your contract for the length of the guarantee period, your principal and the interest you earn are guaranteed.
Issue age
18-85
Premium
Minimum: $25,000 for both qualified and nonqualified money;
Maximum: $1M per owner without prior approval
Free withdrawal amount
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 (MVA)
Applies to withdrawals and surrenders greater than the free withdrawal amount; Waived at death
Systematic withdrawals
May be taken annually, semiannually, quarterly or monthly
- Minimum amount is $100
- Minimum account value of $5,000 must be maintained
- Max annuitization age: 95
- Single-life only; single-life with period certain; joint and survivor life
Greater of account value or surrender value
Find out if the Pinnacle Plus is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.65% |
| 5 years | 4.9% |
| 7 years | 4.8% |
| 10 years | 4.8% |
Riders
No Riders for Pinnacle Plus annuity.
Waivers
Death
Market value adjustment waived at death.
Nursing Home
Unavailable in states: CA
You may withdraw money from your annuity, without a surrender charge, to pay for an eligible nursing home.
Terminal Illness
Unavailable in states: CA
You may withdraw money from your annuity, without a surrender charge, to pay for hospice care.
Surrender Window
There is a 30-day window prior to the end of your guarantee period to select a new guarantee period. If no election is made, your annuity will automatically renew for the same guarantee period you had previously selected. During your 30-day window, you can make withdrawals or surrender your annuity with no surrender charges or market value adjustment.
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