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ForeIncome II Advisory 7 Income Multiplier Benefit

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Highlights

ForeIncome is a single premium fixed index annuity designed with a guaranteed lifetime withdrawal benefit to help meet the need for predictable lifetime income in retirement.
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, WI, and WY
Type
Fixed Index
Purpose Lifetime Income
Term
7 Years
Surrender schedule
2%2%2%2%2%2%2%
Free withdrawal
10%
Market value adjustment
Return of premium
Launch date
08/27/2018
Minimum contribution
$25,000
Maximum contribution
$1,000,000
Max Age Qualified
85
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP
Brochure
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Find out if the ForeIncome II Advisory 7 Income Multiplier Benefit is the right product for you.

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Premium Notes

Premium amount
  • $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) 
Note: TSP funds have to be rolled into an IRA.

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;
  • The contract value for annuitization purposes.
Death Benefit
The remaining contract value passes to beneficiaries at no additional charge.

Withdrawal charges
Up to 10% of the beginning-of-year contract value may be withdrawn annually without incurring a withdrawal charge. Withdrawal charges apply to amounts withdrawn in excess of the free withdrawal amount during the withdrawal charge period.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. 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
4.25% Fixed
2-Year Franklin US PTP Spread
Point to Point
Biennial
0.25% Spread
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Annual
110% Participation
2-Year Franklin US PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year Franklin US PTP Participation Rate
Point to Point
Annual
110% Participation
2-Year PIMCO Balanced PTP Participation Rate
Point to Point
Biennial
220% Participation
2-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Annual
110% Participation
1-Year PIMCO Balanced PTP Participation Rate
Point to Point
Annual
150% Participation
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
8% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
8% Cap
1-Year BlackRock Diversa Volatility Control PTP Cap
Point to Point
Annual
12% Cap
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
7% Performance triggered
1-Year Fixed Account
Fixed
4.25% Fixed
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Biennial
150% Participation
2-Year Franklin US PTP Spread
Point to Point
Biennial
0.25% Spread
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Annual
110% Participation
2-Year Franklin US PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year Franklin US PTP Participation Rate
Point to Point
Annual
110% Participation
2-Year PIMCO Balanced PTP Participation Rate
Point to Point
Biennial
220% Participation
2-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Annual
110% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
8% Cap
1-Year BlackRock Diversa Volatility Control PTP Cap
Point to Point
Annual
12% Cap
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
8% Cap
1-Year PIMCO Balanced PTP Participation Rate
Point to Point
Annual
150% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
7% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 2% 2% 2% 2% 2% 2% 2%

Riders

Name Inbuilt Fee
Advisory Income Multiplier Benefit Yes 1.05% annually

Waivers

Nursing Home

Unavailable in states: CA

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

Unavailable in states: CA

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.

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