Choice Accumulation II Edge 7
The Choice Accumulation II Edge 7 annuity is worth considering if you're planning for a safe, secure future. It takes away market uncertainty, ensuring a steady income regardless of market conditions. You decide the terms, and it transforms your savings into payouts for life.
The product brochure showcases more benefits like flexibility in payout options and potential for growth tied to the market. It's a wonderful balance of steadiness and potential upside for those golden retirement years. The Choice Accumulation II Edge 7 is a dependable companion for your retirement journey.
Choice Accumulation II Edge 7
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Janus SG Global Trends PTP EAS Participation Rate |
Threshold Part Rate Next Year Enhanced
Annual
|
135%
Participation
|
| 1-Year Morgan Stanley Inflation Aware PTP EAS Participation Rate |
Threshold Part Rate Next Year Enhanced
Annual
|
95%
Participation
|
| 1-Year Franklin US PTP EAS Participation Rate |
Threshold Part Rate Next Year Enhanced
Annual
|
85%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3.9%
Fixed
|
| 2-Year Franklin US PTP Spread |
Point to Point
Biennial
|
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.25%
Cap
|
| 1-Year Janus SG Global Trends PTP EAS Participation Rate |
Threshold Part Rate Next Year Enhanced
Annual
|
140%
Participation
|
| 1-Year Morgan Stanley Inflation Aware PTP EAS Participation Rate |
Threshold Part Rate Next Year Enhanced
Annual
|
100%
Participation
|
| 1-Year Franklin US PTP EAS Participation Rate |
Threshold Part Rate Next Year Enhanced
Annual
|
90%
Participation
|
| 1-Year Fixed Account |
Fixed
|
4%
Fixed
|
| 2-Year Franklin US PTP Spread |
Point to Point
Biennial
|
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Optional Enhanced Death Benefit (ages 0-70) | No | 0.50% annually |
| Optional Enhanced Death Benefit (ages 71-80) | No | 0.95% annually |
Waivers
Bail-Out
The Contract Value may be withdrawn with no Withdrawal Charges or MVA if after the Initial Strategy Term expires the renewal rates/caps are set at rates below (above for spread-based strategies) the Bailout Rate (Withdrawal Charge Waiver Rate).
Nursing Home
At any time on or after the Issue Date of the policy, if you should become confined to an approved nursing facility for at least 90 consecutive days, withdrawal charges and MVA on any portion of the contract value withdrawn will be waived. The nursing care waiver does not include home health care.
Terminal Illness
If you have been diagnosed with a terminal illness after the first contract anniversary, withdrawal charges and MVA will be waived on any portion of the contract value withdrawn.
Premium Notes
$25,000
$1 million 0-80
$500,000 81-85
Withdrawal Provisions
Death Benefit Remaining contract value passes to beneficiaries at no additional charge. Optional Enhanced Death Benefit Optional enhanced death benefit will be available at an annual cost of 0.50%, assessed at the end of the contract year, based off of the Enhanced Death Benefit amount. The benefit will be comprised of a guaranteed roll-up of 7.00% simple interest for 15 years based off of premiums, less withdrawals. All withdrawals will reduce the benefit. A minimum issue age of 0 and maximum age of 75 will apply.Free Withdrawals Withdrawals during the Withdrawal Charge Period may be subject to Withdrawal Charges and any applicable Market Value Adjustment. You may make cumulative withdrawals each Contract Year of up to 10% of the Contract Value at the beginning of each Contract Year without incurring Withdrawal Charges or Market Value Adjustments. If you withdraw less than the available Free Withdrawal Amount in any Contract Year, your available Free Withdrawal Amount in future Contract Years will not increase. The free withdrawal amount is the greater of: 10% of beginning-of-year contract value Any Required Minimum Distribution (RMD) imposed by the IRS on this contract
- A.M. Best A
- Fitch A
- S&P A-
- Moody's A2
- Comdex 75
