FIA Plus 7
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Highlights
The FIA Plus is a single-premium, deferred annuity from Ibexis Life & Annuity Insurance Company. Initial premium may be allocated to the Index-Linked Strategy or the Fixed Interest Strategy, in any combination. The Floor for any initial premium allocation in the Index-Linked Strategy is always 0%. A Floor Limit will be elected at the time of application and may be adjusted on any contract anniversary. Selecting a Floor Limit less than 0% will automatically allocate the Tracking Value to the next available Floor, less than 0%, with sufficient Tracking Value Gains, and will generally provide higher upside potential.
Floor Limits available include: 0%, -2.5%, -5%, -10%, -15%
Floor Limits available include: 0%, -2.5%, -5%, -10%, -15%
Available in states:
AK, AZ, AR, 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, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
7 Years |
|
Surrender schedule
|
9%9%8%7.25%6.25%5%4% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
05/01/2023 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,500,000 |
|
Max Age Qualified
|
85 |
|
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, and TSA 403b |
Brochure
|
Open brochure |
Find out if the FIA Plus 7 is the right product for you.
Premium Notes
Issue Ages
FIA Plus 7: 0-85
If jointly owned, eligibility is based on older owner’s age
Premiums
Minimum Premium: $25,000.00
Maximum Premium: $1,500,000.00
Allocation Options
FIA Plus 7: 0-85
If jointly owned, eligibility is based on older owner’s age
Premiums
Minimum Premium: $25,000.00
Maximum Premium: $1,500,000.00
Allocation Options
- Fixed Interest Strategy: Allocations to this strategy credits a fixed rate of interest (credited daily) and creates a Fixed Interest Strategy Value. This rate is guaranteed for one year and can change annually on the contract anniversary. Initial allocations and any transfers to the Fixed Interest Strategy may not be reallocated to the Index-Linked Strategy on any contract anniversary.
- Index-Linked Strategy: The Tracking Value is tracked daily and receives positive or negative Tracking Value Adjustments based on index performance, the applicable cap or participation rates or the annual declared rate.
Withdrawal Provisions
Penalty-Free Withdrawals and Required Minimum Withdrawals
After the first contract anniversary, 10% of the sum of the Tracking Value and Fixed Interest Strategy Value from the previous contract anniversary is available for withdrawal free of any withdrawal charges or or Market Value Adjustment (“MVA”).
Any time a withdrawal exceeds the penalty-free amount, the excess will incur a surrender charge, and an MVA will be applied.
Required Minimum Withdrawals (“RMDs”) are mandatory withdrawals from qualified contracts. RMDs are not available during the first year and must be processed by the current carrier prior to any transfer. Thereafter, RMDs will be treated as Penalty-Free Withdrawals up to the RMD amount, even if it exceeds the stated free withdrawal amount.
Minimum Account Balance After Surrenders and Withdrawals
$5,000
Minimum Surrender and Withdrawal Amount
$1,000
Systematic Withdrawal Provision
Two automatic payment options for payment of either a specific amount or interest only on a repetitive basis. Minimum payment per mode is $100. Subject to Penalty-Free Withdrawals and RMD limitations. Frequency: monthly, quarterly, semi-annual or annual
After the first contract anniversary, 10% of the sum of the Tracking Value and Fixed Interest Strategy Value from the previous contract anniversary is available for withdrawal free of any withdrawal charges or or Market Value Adjustment (“MVA”).
Any time a withdrawal exceeds the penalty-free amount, the excess will incur a surrender charge, and an MVA will be applied.
Required Minimum Withdrawals (“RMDs”) are mandatory withdrawals from qualified contracts. RMDs are not available during the first year and must be processed by the current carrier prior to any transfer. Thereafter, RMDs will be treated as Penalty-Free Withdrawals up to the RMD amount, even if it exceeds the stated free withdrawal amount.
Minimum Account Balance After Surrenders and Withdrawals
$5,000
Minimum Surrender and Withdrawal Amount
$1,000
Systematic Withdrawal Provision
Two automatic payment options for payment of either a specific amount or interest only on a repetitive basis. Minimum payment per mode is $100. Subject to Penalty-Free Withdrawals and RMD limitations. Frequency: monthly, quarterly, semi-annual or annual
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.25%
Fixed
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -15% Floor |
Point to Point
Annual
|
215%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -10% Floor |
Point to Point
Annual
|
206%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -5% Floor |
Point to Point
Annual
|
180%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -2.5% Floor |
Point to Point
Annual
|
158%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with 0% Floor |
Point to Point
Annual
|
127%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with 0% Floor |
Point to Point
Annual
|
109%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -2.5% Floor |
Point to Point
Annual
|
134%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -5% Floor |
Point to Point
Annual
|
159%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -10% Floor |
Point to Point
Annual
|
190%
Participation
|
| 1-Year S&P 500 PTP Cap with -15% Floor |
Point to Point
Annual
|
22.75%
Cap
|
| 1-Year S&P 500 PTP Cap with -10% Floor |
Point to Point
Annual
|
17.75%
Cap
|
| 1-Year S&P 500 PTP Cap with -5% Floor |
Point to Point
Annual
|
14.75%
Cap
|
| 1-Year S&P 500 PTP Cap with -2.5% Floor |
Point to Point
Annual
|
11.75%
Cap
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -15% Floor |
Point to Point
Annual
|
208%
Participation
|
| 1-Year S&P 500 PTP Cap with 0% Floor |
Point to Point
Annual
|
10.25%
Cap
|
| 1-Year Fixed Account |
Fixed
|
4.45%
Fixed
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with 0% Floor |
Point to Point
Annual
|
133%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -2.5% Floor |
Point to Point
Annual
|
163%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -5% Floor |
Point to Point
Annual
|
185%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -10% Floor |
Point to Point
Annual
|
212%
Participation
|
| 1-Year HSBC AI Global Tactical PTP Participation Rate with -15% Floor |
Point to Point
Annual
|
220%
Participation
|
| 1-Year S&P 500 PTP Cap with -15% Floor |
Point to Point
Annual
|
23.75%
Cap
|
| 1-Year S&P 500 PTP Cap with -10% Floor |
Point to Point
Annual
|
18.75%
Cap
|
| 1-Year S&P 500 PTP Cap with -5% Floor |
Point to Point
Annual
|
15.75%
Cap
|
| 1-Year S&P 500 PTP Cap with -2.5% Floor |
Point to Point
Annual
|
12.75%
Cap
|
| 1-Year S&P 500 PTP Cap with 0% Floor |
Point to Point
Annual
|
11.25%
Cap
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with 0% Floor |
Point to Point
Annual
|
113%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -2.5% Floor |
Point to Point
Annual
|
138%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -5% Floor |
Point to Point
Annual
|
163%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -10% Floor |
Point to Point
Annual
|
194%
Participation
|
| 1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -15% Floor |
Point to Point
Annual
|
212%
Participation
|
| 1-Year Declared Rate with 0% Floor |
Fixed
|
4.45%
Fixed
|
| 1-Year Declared Rate with -2.5% Floor |
Fixed
|
4.45%
Fixed
|
| 1-Year Declared Rate with -15% Floor |
Fixed
|
4.45%
Fixed
|
| 1-Year Declared Rate with -5% Floor |
Fixed
|
4.45%
Fixed
|
| 1-Year Declared Rate with -10% Floor |
Fixed
|
4.45%
Fixed
|
| 1-Year Declared Rate with -5% Floor |
Fixed
|
4.65%
Fixed
|
| 1-Year Declared Rate with -10% Floor |
Fixed
|
4.65%
Fixed
|
| 1-Year Declared Rate with -2.5% Floor |
Fixed
|
4.65%
Fixed
|
| 1-Year Declared Rate with 0% Floor |
Fixed
|
4.65%
Fixed
|
| 1-Year Declared Rate with -15% Floor |
Fixed
|
4.65%
Fixed
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for FIA Plus 7 annuity.
Waivers
Bail-Out
Unavailable in states: FL, SC, and SD
If the declared Floor S&P 500 Annual Point to Point with Cap Rate ever falls below the corresponding declared Bailout Rate, contract owners have up to 30 days to withdraw any amount up to the full Tracking Value plus Fixed Interest Strategy Value without withdrawal charges, market value adjustments or premium bonus vesting adjustments.
Terminal Illness
Unavailable in states: CA
Eligibility after the first contract anniversary, however, diagnosis may have occurred prior. Diagnosis must be made by a certified physician that death will occur in 12 months or less. Not available in all states
Extended Care
Unavailable in states: CA
Eligibility begins after the first contract anniversary. Must be confined to a Hospital or certified. Long-Term Care facility for 90 consecutive days. Not available in all states.
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