MarketTen Bonus Index
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Highlights
MarketTen Bonus Index is a Flexible Premium Fixed Indexed Deferred Annuity with a Premium Bonus on premiums paid in the first five years. The product contains a Fixed Rate Account that earns a traditional interest rate and offers two Index Accounts, with a 10-Year Surrender Charge Period. As an additional guarantee, the cash surrender value will never be less than premiums, less withdrawals. This rider is automatically included on all contracts at no additional charge, subject to state availability.
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 | Lifetime Income |
|
Premium Bonus
|
8% |
|
Term
|
10 Years |
|
Surrender schedule
|
10%10%10%10%8.5%7%5.5%4%3%1.5% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
06/28/2007 |
|
Minimum contribution
|
Qualified: $5,000 Non-Qualified: $10,000 |
|
Maximum contribution
|
$2,000,000 |
|
Max Age Qualified
|
80 |
|
Types of funds
|
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, 1035 Exchange, Stretch IRA, Inherited IRA, and TSP |
Brochure
|
Open brochure |
Find out if the MarketTen Bonus Index is the right product for you.
Premium Notes
Initial Premium
Miniumum: $10 000 NQ, $5 000 Q;
Contract maximum without prior EquiTrust approval: $2 000 000
Additional Premium
Subsequent minimum: $2 000
Subsequent annual maximum after year 1: $250 000
Miniumum: $10 000 NQ, $5 000 Q;
Contract maximum without prior EquiTrust approval: $2 000 000
Additional Premium
Subsequent minimum: $2 000
Subsequent annual maximum after year 1: $250 000
Subsequent Premiums automatically added to the 1-Year Interest Account at the time of receipt. On each contract anniversary, automatically reallocated between accounts according to the most recent allocation instructions. Subsequent Premium can be contributed multiple times in a year.
Notes:
Notes:
SIMPLE IRA Transfers only.
If the IRA owner dies on or after 1/1/20, the new SECURE Act rules apply.
Applicable beneficiaries now fall under two categories: Eligible and Ineligible Designated Beneficiaries.
Stretch IRA is available only to Eligible Designated Beneficiaries.
Inherited IRA is available to Ineligible Designated Beneficiaries – withdrawal or taxation of funds by 12/31 of the 10th year following the IRA owner’s death now applies to Ineligible Designated Beneficiaries.
TSP funds have to be rolled over or transferred into an IRA.
Withdrawal Provisions
Withdrawal Availability
May begin anytime after 1st contract year and age 50
Systematic Withdrawal
May begin anytime after 1st contract year and age 50
Systematic Withdrawal
Systematic withdrawal is available on a monthly, quarterly, semiannual, or annual basis. Systematic Withdrawals are automatically deposited in your bank account.
Free Withdrawals
By current company practices, systematic withdrawals of interest are allowed in the first year from the Fixed Rate Account without Surrender Charge or MVA. Interest withdrawals must be taken via electronic funds transfer (EFT). 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 EFT.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.5%
Fixed
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
8%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
75%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.85%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7%
Cap
|
| 2-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Biennial
Monthly average
|
18%
Cap
|
| 1-Year Barclays Focus50 PTP Participation Rate |
Point to Point
Annual
|
135%
Participation
|
| 2-Year Barclays Focus50 PTP Participation Rate |
Point to Point
Biennial
|
180%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
6%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 10% | 10% | 10% | 9% | 7% | 6% | 4% | 3% | 2% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| MarketTen Bonus Income Rider | No | 1.00% annually (1.00% max) |
Waivers
Nursing Home
Available for all applicant ages 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. The nursing home waiver does not include home health care.
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.
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