ForeIncome II 5 Income Multiplier Benefit
The ForeIncome II 5 Income Multiplier Benefit annuity is a wonderful financial tool for a secure retirement. It offers a steady income and a peace of mind knowing your finances are in good hands.
This product stands out with its unique income multiplier benefit, ensuring you're supported even when the cost of living increases. Celebrate your golden years with ForeIncome II 5, your dependable partner in retirement.
ForeIncome II 5 Income Multiplier Benefit
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5%
Cap
|
| 1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate |
Point to Point
Biennial
|
105%
Participation
|
| 1-Year Franklin US PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 2-Year Franklin US PTP Participation Rate |
Point to Point
Biennial
|
105%
Participation
|
| 2-Year PIMCO Balanced PTP Participation Rate |
Point to Point
Biennial
|
150%
Participation
|
| 1-Year BlackRock Diversa Volatility Control PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 2-Year BlackRock Diversa Volatility Control PTP Participation Rate |
Point to Point
Biennial
|
105%
Participation
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
5%
Cap
|
| 2-Year Franklin US PTP Spread |
Point to Point
Biennial
|
0.5%
Spread
|
| 1-Year BlackRock Diversa Volatility Control PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year PIMCO Balanced PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
4.25%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 2-Year PIMCO Balanced PTP Participation Rate |
Point to Point
Biennial
|
150%
Participation
|
| 1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate |
Point to Point
Biennial
|
105%
Participation
|
| 1-Year Franklin US PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 2-Year Franklin US PTP Participation Rate |
Point to Point
Biennial
|
105%
Participation
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
5%
Cap
|
| 1-Year PIMCO Balanced PTP Participation Rate |
Point to Point
Annual
|
105%
Participation
|
| 2-Year Franklin US PTP Spread |
Point to Point
Biennial
|
0.5%
Spread
|
| 1-Year BlackRock Diversa Volatility Control PTP Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 2-Year BlackRock Diversa Volatility Control PTP Participation Rate |
Point to Point
Biennial
|
105%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5%
Cap
|
| 1-Year BlackRock Diversa Volatility Control PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
4.25%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Income Multiplier Benefit | Yes | 1.05% 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 your client 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. State variations apply. The nursing care waiver does not include home health care.
Terminal Illness
If your client has 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 minimum premium
- $1,000,000 maximum premium for ages 45-80 (as measured by total contribution per person for all annuities with the company)
- $500,000 maximum premium for ages 81-85 (as measured by total contribution per person for all annuities with the company)
Withdrawal Provisions
Guaranteed Minimum Surrender Value (GMSV)The GMSV is equal to the Premium Payment less withdrawal proceeds. If GLWB income activation has not occurred, the GMSV is used for determining the following after the withdrawal charge period when greater than the contract value:Death Benefit;Surrender value;Contract value for annuitization purposes.Death BenefitRemaining contract value passes to beneficiaries at no additional charge.Withdrawal chargesUp to 10% of the beginning-of-year contract value may be withdrawn annually without incurring a withdrawal charge. Withdrawal charges apply to amounts withdrawn in excess of the free withdrawal amount during the withdrawal charge period.Taxable distributions (including certain deemed distributions) are subject to ordinary income taxes, and if made prior to age 59½, may also be subject to a 10% federal income tax penalty. Payments from IRAs are taxable in accordance with the normal rules surrounding taxation of payments from an IRA. Early withdrawal charges may also apply. Withdrawals may reduce any optional guaranteed amounts in an amount more than the actual withdrawal. Withdrawal Charge Schedule availability may vary by firm.
- A.M. Best A
- Fitch A
- S&P A-
- Moody's A2
- Comdex 75
