MarketFive Index
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Highlights
MarketFive Index is a flexible premium fixed index annuity. Product contains a fixed-rate account and a variety of index accounts, two of which feature custom, risk-controlled indices: Barclays Focus50 Index and S&P MARC 5% Excess Return Index.
Available in states:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
5 Years |
|
Surrender schedule
|
9%8%7%6.5%5.5% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
08/01/2023 |
|
Minimum contribution
|
$10,000 |
|
Maximum contribution
|
$2,000,000 |
|
Max Age Qualified
|
90 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, Inherited IRA, and TSP |
Brochure
|
Open brochure |
Find out if the MarketFive Index is the right product for you.
Premium Notes
Initial minimum: $10,000;
Subsequent minimum: $2,000
Subsequent annual maximum after year 1: $250,000
Subsequent premiums automatically added to the 1-Year Interest Account at time of receipt, then at contract anniversary reallocated among accounts according to current allocation instructions.
Note: TSP funds have to be rolled over or transferred into an IRA.
Subsequent minimum: $2,000
Subsequent annual maximum after year 1: $250,000
Subsequent premiums automatically added to the 1-Year Interest Account at time of receipt, then at contract anniversary reallocated among accounts according to current allocation instructions.
Note: TSP funds have to be rolled over or transferred into an IRA.
Withdrawal Provisions
Market Value Adjustment
Yes, applied when surrender charges are imposed (No MVA in CA).
Free withdrawals
By current company practice, systematic withdrawals of interest are allowed in the first year from the 1-Year Interest Account without charges.
After the first contract year, up to 10% of the Accumulation Value on the previous contract anniversary may be withdrawn each contract year without surrender charge or MVA, either systematically or as a single withdrawal. Single withdrawals can be requested at any time, but must be at least $250 per request. Systematic withdrawals are available monthly, quarterly, semiannually or annually, and must be taken by EFT.
Yes, applied when surrender charges are imposed (No MVA in CA).
Free withdrawals
By current company practice, systematic withdrawals of interest are allowed in the first year from the 1-Year Interest Account without charges.
After the first contract year, up to 10% of the Accumulation Value on the previous contract anniversary may be withdrawn each contract year without surrender charge or MVA, either systematically or as a single withdrawal. Single withdrawals can be requested at any time, but must be at least $250 per request. Systematic withdrawals are available monthly, quarterly, semiannually or annually, and must be taken by EFT.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.4%
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
|
50%
Participation
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
12%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
90%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.35%
Cap
|
| 1-Year Barclays Focus50 PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
190%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
8%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 7% | 6% |
Riders
No Riders for MarketFive Index annuity.
Waivers
Nursing Home
Available for applicant ages 0-80 at no charge. After the first contract year, access up to 100% of the Accumulation Value in the event of nursing home confinement of owner for 90 days.
Terminal Illness
Available for all applicant ages at no charge. Access up to 75% of the Accumulation Value in the event of the owner’s terminal illness. Features may vary by state.
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