Farmers Harvest 10
The Farmers Harvest 10 Annuity is a great plan for those eyeing a secure future. Its flexibility and consistency stand out, assuring steady retirement income and maintaining your peace of mind.
It's a user-friendly tool to grow your nest egg while protecting what you’ve worked hard for. I highly recommend it for any retiree or future planner!
Farmers Harvest 10
About Product
- An opportunity to protect and grow your nest egg;
Keep your retirement savings protected from market downturns while enjoying the ability to continue accumulating funds tax deferred as you approach retirement. - Protection from unexpected retirement expenses;
Customize the product by purchasing optional benefit riders to have more flexibility over when and how your funds are available to you as life unfolds. - Diversification through various index options; and
With a number of indices and crediting strategies available, you can allocate premiums to capture interest credits in varying market environments. - The ability to generate an income you cannot outlive.
Through annuitization, you can create a stream of “paychecks” that makes it easier to meet your basic retirement needs and increase your confidence in the future.
- Premium Bonus Rider
- Enhanced Death Benefit Rider
- Enhanced Liquidity Rider
- Enhanced Benefit Rider (Terminal Illness/Confinement Waiver of Surrender Charges).
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year S&P 500 PTP Enhanced Cap |
Point to Point
Annual
|
11.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year S&P U.S. Dividend Growers VA RC2 7.5% PTP Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 1-Year S&P U.S. Dividend Growers VA RC2 7.5% PTP Enhanced Participation Rate |
Point to Point
Annual
|
110%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 7% PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 7% PTP Enhanced Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 1-Year Bloomberg Global Momentum Diversified Leaders 5% ER PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 1-Year Bloomberg Global Momentum Diversified Leaders 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
165%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 3% | 2% | 1% |
Riders
No Riders for Farmers Harvest 10 annuity.
Waivers
No Waivers for Farmers Harvest 10 annuity.
Premium Notes
Minimum premium: $10,000
Maximum premium: $1,000,000 (without home office approval)
Minimum additional premium: $5,000
Withdrawal Provisions
Penalty-free surrenders and withdrawals After the first contract year, the greater of: 10% of the Contract Value as of the last Contract Anniversary; orThe Required Minimum Distribution (RMD) if your annuity is part of a tax-qualified plan that includes RMDs. Market Value Adjustment An MVA will apply to any full surrender or partial withdrawal that exceeds the maximum penalty-free withdrawal during the Surrender Charge Period. Depending on the direction interest rates move, the MVA may increase or decrease benefits available under the contract. Generally, if interest rates rise after the beginning of the Surrender Charge Period, the MVA will decrease the surrender value. If interest rates have declined, the MVA will increase the surrender value. The MVA is waived whenever Surrender Charges are waived. MinimumsMinimum surrender and withdrawal amount: $100 Minimum account balance after surrenders and withdrawals: $2,000
- A.M. Best B++
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