Accumulator Plus 10
The Accumulator Plus 10 is a wonderful annuity product that ensures that you enjoy the fruits of your diligent savings long into your retirement. With stable growth and guaranteed income for life, it's truly a reliable nest egg!
The product booklet highlights protection against market downturns, making it a secure choice for a serene retirement. You have flexibility even in your golden years with the Accumulator Plus 10. Peace of mind combined with financial freedom, what more could you ask for?
Accumulator Plus 10
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.75%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate with Charge |
Point to Point
Annual
|
45%
Participation
|
| 2-Year Barclays Trailblazer Sectors 5 PTP Participation Rate with Spread with Charge |
Point to Point
Biennial
|
270%
Participation
|
| 1-Year S&P 500 PTP Cap with Charge |
Point to Point
Annual
|
10.25%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap with Charge |
Point to Point
Annual
Monthly sum
|
3.15%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Cap with Charge |
Point to Point
Annual
Monthly average
|
14.25%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
7.75%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.35%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.5%
Cap
|
| 2-Year Barclays Trailblazer Sectors 5 PTP Participation Rate with Spread |
Point to Point
Biennial
|
230%
Participation
|
| 2-Year GS Global Factor PTP Participation Rate with Spread |
Point to Point
Biennial
|
250%
Participation
|
| 2-Year GS Global Factor PTP Participation Rate with Charge |
Point to Point
Biennial
|
290%
Participation
|
| 1-Year GS Global Factor PTP Participation Rate with Spread |
Point to Point
Annual
|
170%
Participation
|
| 1-Year GS Global Factor PTP Participation Rate with Charge |
Point to Point
Annual
|
230%
Participation
|
| 1-Year S&P 500 Performance Trigger with Charge |
Performance Triggered
Annual
|
7.25%
Performance triggered
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
5.5%
Performance triggered
|
| 1-Year Morgan Stanley US Equity Allocator PTP Participation Rate with Spread |
Point to Point
Annual
|
80%
Participation
|
| 1-Year Morgan Stanley US Equity Allocator PTP Participation Rate with Spread with Charge |
Point to Point
Annual
|
105%
Participation
|
| 2-Year Morgan Stanley US Equity Allocator PTP Participation Rate with Spread |
Point to Point
Biennial
|
110%
Participation
|
| 2-Year Morgan Stanley US Equity Allocator PTP Participation Rate with Spread with Charge |
Point to Point
Biennial
|
130%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
No Riders for Accumulator Plus 10 annuity.
Waivers
Nursing Home
Unavailable in states: MA
Nursing Home Care (in a licensed nursing home) • Confinement must begin at least 1 year after contract effective date • Must be confined to nursing home for at least 60 days In AK, AL, CT, ID, MN, MS, MT, OR, PA, PR and WA, care or confinement must begin after the contract effective date.
Terminal Illness
Diagnosis must be made at least 1 year after contract effective date and certified by licensed physician. Life expectancy must be less than 1 year. Limitations and considerations may vary from state to state.
ADL
Unavailable in states: MA
Home Health Care (provided by licensed home health care provider) • Care must begin at least 1 year after contract effective date • Must be unable to perform at least 2of 6 activities of daily living (for at least 60 days and expected to continue for at least 90 days after requesting withdrawal) In AK, AL, CT, ID, MN, MS, MT, OR, PA, PR and WA, care or confinement must begin after the contract effective date.
Premium Notes
Non-qualified: 0-85
Qualified: 18-85
If joint owner, eligibility is based on older owner’s age
Initial Premium and Transfers
Flexible Premium
Any additional premium will be placed initially into the fixed interest option. On the annuity anniversary, the client may reallocate any portion of the account value between any of the options.
Any additional premium (the amount of money you may at any time and as often as you want until the Maturity Date) must be at least $2,000 and may not exceed $2,500,000.
The minimum Allocation to any account is $2,000 per contract year.
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
Death benefitPrior withdrawals reduce benefit amounts. Interest rates are subject to change. Partial index credit, if applicable, paid up to the date of death.Paid as a lump sum, greatest of:Account valueMinimum guaranteed surrender valueAnnuitization If annuitization occurs in the first five contract years, we will apply the greater of the surrender value and MGSV. If annuitization occurs after the fifth contract year, we will apply the greater of the account value and MGSV. Some states allow waiver of surrender charges upon annuitizing prior to the fifth contract year. For FG AccumulatorPlus 10 some states allow annuitization at the surrender value, not at the account value. Free Withdrawals Each contract year, after the end of the first contract year, free partial surrender of up to 10% of the account value as of the prior anniversary.
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