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Best Guaranteed Annuity Rates
2-Year
5.55%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

Farmers Harvest 7

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Highlights

The Farmers Harvest is an individual modified single premium fixed indexed annuity (FIA) that offers  
  • 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.  
Several product variations will be offered based on the length of the surrender charge period and the election of optional benefit riders. Three surrender charge periods will be offered (5, 7, and 10-years) along with the following optional benefit riders. 
  • Premium Bonus Rider 
  • Enhanced Death Benefit Rider 
  • Enhanced Liquidity Rider 
  • Enhanced Benefit Rider (Terminal Illness/Confinement Waiver of Surrender Charges).
Available in states: AL, AK, AZ, AR, GA, IN, IA, LA, MA, MS, MO, NE, NV, NM, ND, OH, OK, PA, TN, TX, WV, and WY
Type
Fixed Index
Purpose Accumulation
Term
7 Years
Surrender schedule
9%8%7%6%5%4%3%
Free withdrawal
1st year: 0%
2nd+ year: 10%
Market value adjustment
Return of premium
Launch date
09/26/2023
Minimum contribution
$10,000
Maximum contribution
$1,000,000
Max Age Qualified
85
Types of funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, IRA-Roth, SIMPLE IRA, 1035 Exchange, and TSP
Brochure
Open brochure

Find out if the Farmers Harvest 7 is the right product for you.

Premium Notes

Premium
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; or
  • The 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.

Minimums
Minimum surrender and withdrawal amount: $100 
Minimum account balance after surrenders and withdrawals: $2,000 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4.5% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
11% Cap
1-Year S&P 500 PTP Enhanced Cap
Point to Point
Annual
13% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
50% Participation
1-Year S&P 500 PTP Enhanced Participation Rate
Point to Point
Annual
60% Participation
1-Year S&P U.S. Dividend Growers VA RC2 7.5% PTP Participation Rate
Point to Point
Annual
100% Participation
1-Year S&P U.S. Dividend Growers VA RC2 7.5% PTP Enhanced Participation Rate
Point to Point
Annual
120% Participation
1-Year Nasdaq-100 Volatility Control 7% PTP Participation Rate
Point to Point
Annual
125% Participation
1-Year Nasdaq-100 Volatility Control 7% PTP Enhanced Participation Rate
Point to Point
Annual
150% Participation
1-Year Bloomberg Global Momentum Diversified Leaders 5% ER PTP Participation Rate
Point to Point
Annual
150% Participation
1-Year Bloomberg Global Momentum Diversified Leaders 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
175% Participation

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 8% 7% 6% 5% 4% 3%

Riders

No Riders for Farmers Harvest 7 annuity.

Waivers

No Waivers for Farmers Harvest 7 annuity.

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