Structured Capital Strategies Plus 21 NY Series B
The 'Structured Capital Strategies Plus 21 NY Series B' is a great safety net for retirement planning. This annuity offers an excellent blend of potential growth, flexibility and risk protection.
With features like significant tax advantages, customizable strategies and limited downside market risk, it's designed with your retirement worries in mind. An ideal choice to secure your golden years!
Structured Capital Strategies Plus 21 NY Series B
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Nasdaq-100 Dual Direction Cap 10% Buffer |
Dual Directional
Annual
|
14%
Cap
|
| 1-Year MSCI EAFE Dual Direction Cap 10% Buffer |
Dual Directional
Annual
|
11.5%
Cap
|
| 1-Year Russell 2000 Dual Direction Cap 10% Buffer |
Dual Directional
Annual
|
15.5%
Cap
|
| 1-Year S&P 500 Dual Direction Cap 10% Buffer |
Dual Directional
Annual
|
11%
Cap
|
| 6-Year S&P 500 Dual Direction Cap 20% Buffer |
Dual Directional
6-Year
|
60%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Penalty | 7% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Return of Premium Death Benefit | No | 0.20% annually |
Waivers
Death
The withdrawal charge does not apply if the owner dies and a death benefit is payable to the beneficiary.
Nursing Home
Unavailable in states: MA
The withdrawal charge does not apply if an owner (or older joint owner, if applicable) has been confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that is (a) approved by Medicare as a pro-vider of skilled nursing care service, or (b) licensed as a skilled nursing home by the state or territory in which it is located (it must be within the United States, Puerto Rico, or U.S. Virgin Islands. Home Health Care acceptable as long as you have a physician's letter and 2 of 6 ADL.
Terminal Illness
Unavailable in states: MA
The withdrawal charge does not apply if we receive proof satisfactory to us (including certification by a licensed physician) that an owner’s (or older joint owner’s, if applicable) life expectancy is six months or less.
Disability
Unavailable in states: CT, and MA
The withdrawal charge does not apply if an owner (or older joint owner, if applicable) has qualified to receive Social Security disability benefits as certified by the Social Security Administration.
Premium Notes
- 0–85 for Nonqualified, Roth IRA, Traditional IRA, Inherited IRA, NQ and SEP IRA Funds.
- Ages 20–75 for Qualified Plans.
Initial minimum contribution
- $25,000
- Nonqualified Funds & Qualified Plans: $500
- Roth IRA & Traditional IRA: $50
No additional contributions after the date on which the older of the original Owner(s) and Annuitant(s) reaches age 86 or, if later, the first contract date anniversary.
There is no minimum requirement for transfers into a Segment or for contributions/ transfers to a Segment Type Holding Account.
Maximum contribution
- $1.5 million
Withdrawal Provisions
Free Withdrawal AmountAccess up to 10% of the beginning-of-contract-year account value free of withdrawal charges. Prior to the sixth Contract Date Anniversary, any amount withdrawn above the Free Withdrawal Amount during a Contract Year will be withdrawn in the following order: from Contributions (on a first-in, first-out (FIFO) basis) until exhausted; then, from earnings. On or after the sixth Contract Date Anniversary, any amount withdrawn above the Free Withdrawal Amount during a Contract Year will be withdrawn in the following order: 1) from Contributions to which a withdrawal charge no longer applies (on a FIFO basis) until exhausted, 2) from earnings (which are determined at the time they are deemed withdrawn) until exhausted, 3) from Contributions to which a withdrawal charge still applies (on a FIFO basis).
- A.M. Best A
- S&P A+
- Moody's A1
- Comdex 82
