Power Accumulator 10
The Power Accumulator 10 is a fantastic product for those wanting a financial cushion during retirement. It offers guaranteed lifetime income, offering peace of mind knowing you'll never outlive your money.
What's really great is its flexibility. With options to withdraw without penalties and potential for tax-deferred growth, the Power Accumulator 10 ensures that you're in control of your money always. It's a smart choice for a worry-free future.
Power Accumulator 10
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.75%
Fixed
|
| 1-Year Balanced Asset 10 PTP Participation Rate |
Point to Point
Annual
|
95%
Participation
|
| 1-Year BlackRock Market Advantage PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 1-Year BlackRock Market Advantage PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
| 2-Year BlackRock Market Advantage PTP Participation Rate with Spread |
Point to Point
Biennial
|
205%
Participation
|
| 2-Year BlackRock Market Advantage PTP Participation Rate |
Point to Point
Biennial
|
235%
Participation
|
| 2-Year Balanced Asset 5 PTP Participation Rate |
Point to Point
Biennial
|
300%
Participation
|
| 2-Year Balanced Asset 5 PTP Participation Rate with Spread |
Point to Point
Biennial
|
260%
Participation
|
| 1-Year Balanced Asset 5 PTP Participation Rate |
Point to Point
Annual
|
230%
Participation
|
| 1-Year Balanced Asset 5 PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
| 1-Year iShares US Real Estate PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year iShares Core S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year iShares MSCI EAFE PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 2-Year iShares MSCI EAFE PTP Participation Rate with Spread |
Point to Point
Biennial
|
85%
Participation
4.5%
Spread
|
| 1-Year iShares Gold Trust PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 2-Year iShares Core S&P 500 PTP Participation Rate with Spread |
Point to Point
Biennial
|
60%
Participation
2.5%
Spread
|
| 2-Year iShares US Real Estate PTP Participation Rate with Spread |
Point to Point
Biennial
|
70%
Participation
2.5%
Spread
|
| 2-Year Balanced Asset 10 PTP Participation Rate with Spread |
Point to Point
Biennial
|
180%
Participation
3%
Spread
|
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 Power Accumulator 10 annuity.
Waivers
Nursing Home
Unavailable in states: MA
Nursing Home Care (in a licensed nursing home) -Access to account value, with no surrender charge or MVA -Must be confined to nursing home for at least 60 days In AK, AL, CT, ID, MN, MS, MT, OR, PA and WA confinement must begin after the contract effective date. In all other states confinement must begin at least 1 year after the contract effective date.
Terminal Illness
Terminal Illness -Access to account value, with no surrender charge or MVA 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.
ADL
Unavailable in states: MA
Home Health Care (provided by licensed home health care provider) -Access to account value, with no surrender charge or MVA -Must be unable to perform at least 2 of 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 and WA care must begin after the contract effective date. In all other states care must begin at least 1 year 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
Flexible Premium
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 $1,000,000.
The minimum Allocation to any account is $2,000 per contract year.
Withdrawal Provisions
Free partial withdrawals You may withdraw your money at any time. We know you may have unexpected opportunities or expenses. You’ll have penalty-free access to 10% of the total account value in years 2-10. Any other withdrawals will incur surrender charges and an MVA.
- A.M. Best A
- Fitch A-
- S&P A-
- Moody's A3
- Comdex 70
