Prosperity Elite 14 Protection
The Prosperity Elite 14 Protection annuity is a fantastic choice for a secure retirement. It stands out with its high earning potential plus an impressive 14-year guarantee. Perfect if you're looking for long-term stability.
Not to forget, it also offers flexibility - giving an option to receive income for life or for a certain period. So, you really can look forward to a worry-free retirement with Prosperity Elite 14!
Prosperity Elite 14 Protection
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.75%
Fixed
|
| 1-Year Gold PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
8%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.4%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.75%
Cap
|
| 2-Year Barclays Trailblazer Sectors 5 PTP Participation Rate with Spread |
Point to Point
Biennial
|
245%
Participation
|
| 2-Year GS Global Factor PTP Participation Rate |
Point to Point
Biennial
|
305%
Participation
|
| 2-Year GS Global Factor PTP Participation Rate with Spread |
Point to Point
Biennial
|
265%
Participation
|
| 1-Year GS Global Factor PTP Participation Rate |
Point to Point
Annual
|
180%
Participation
|
| 2-Year CIBC Balanced Asset 5 PTP Participation Rate |
Point to Point
Biennial
|
290%
Participation
|
| 2-Year CIBC Balanced Asset 5 PTP Participation Rate with Spread |
Point to Point
Biennial
|
250%
Participation
|
| 1-Year CIBC Balanced Asset 5 PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
6%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 15% | 14% | 13% | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Prosperity Elite Protection Package | Yes | 0.35% annually (1.00% max) |
| Prosperity Elite Protection Package (HI, IL) | Yes | 0.35% annually (1.00% max) |
Waivers
Nursing Home
Confinement must begin at least 1 year after contract effective date. Must be confined to nursing home for at least 60 days. Home Health Care is an acceptable option.
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
Premium Notes
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
All GMDB Rider values are reduced proportionately by withdrawals previously taken. If there are joint annuitants, the GMDB Rider benefit is only available upon the death of the first owner. Annuitization You must begin receiving annuity payments no later than the maturity date. The maturity date is fixed at contract issue and is no later than the contract anniversary following the annuitant’s (or the oldest annuitant’s if a second annuitant is named) 100th birthday. If annuity payments begin before the 5th contract anniversary, annuity payments are based on the surrender value. If annuity payments begin after the 5th contract anniversary, annuity payments are based on the greater of the account value and the MGSV. An annuity option may be changed any time before annuity payments begin. If your annuity was issued in connection with a tax qualified plan, you may be required to take minimum distributions beginning at age 72½. Free Withdrawals Each contract year, after the end of the first contract year, free partial surrender of up to 10% of the vested account value as of the prior anniversary.
- A.M. Best A
- Fitch A-
- S&P A-
- Moody's A3
- Comdex 70
