Farmers Harvest 10 with Enhanced Liquidity
The Farmers Harvest 10 with Enhanced Liquidity offers a secure income stream in retirement. It's easy to understand, making it an ideal option for those planning a worry-free future.
Plus, with its enhanced liquidity feature, you're not completely locked in. This allows for unexpected expenses. A smart choice for peace of mind and financial security!
Farmers Harvest 10 with Enhanced Liquidity
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
|
3.75%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.75%
Cap
|
| 1-Year S&P 500 PTP Enhanced Cap |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year S&P U.S. Dividend Growers VA RC2 7.5% PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
| 1-Year S&P U.S. Dividend Growers VA RC2 7.5% PTP Enhanced Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 7% PTP Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 7% PTP Enhanced Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year Bloomberg Global Momentum Diversified Leaders 5% ER PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year Bloomberg Global Momentum Diversified Leaders 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
140%
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
| Name | Inbuilt | Fee |
|---|---|---|
| Enhanced Liquidity Package | Yes |
Waivers
Nursing Home
In the event you are continuously confined in a qualified nursing care facility for at least 90 days, the Enhanced Benefit Rider allows you to access your funds after the first contract year without paying Surrender Charges or an MVA.
Terminal Illness
In the event you are diagnosed with a terminal illness that is expected to result in death within one year, the Enhanced Benefit Rider allows you to access your funds after the first contract year without paying Surrender Charges or an MVA.
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 30 days, 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. Enhanced Liquidity RiderIf no withdrawals were taken in the prior contract year, the Enhanced Liquidity Benefit Rider allows for the penalty-free withdrawal amount to increase to 20% of the Contract Value. It also reduces the waiting period from one year to 30 days. This provision effectively allows unused penalty-free withdrawal benefits to be carried over for one year. 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++
