Heritage Growth Advantage+
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Highlights
Heritage Growth Advantage+ (HGA+) is a single-premium deferred fixed-indexed annuity (FIA) that provides growth potential with protection from market downturns. An FIA is purchased as part of your retirement strategy, but also offers the flexibility to access your funds.
Heritage Growth Advantage+ includes the added benefit of fully guaranteed Participation Rates on every indexed account. During the Surrender Charge Period, the Participation Rate will never be less than the initial guaranteed rate.
Heritage Growth Advantage+ includes the added benefit of fully guaranteed Participation Rates on every indexed account. During the Surrender Charge Period, the Participation Rate will never be less than the initial guaranteed rate.
Available in states:
AL, AK, AZ, AR, CA, CO, DE, 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, VT, VA, WA, WV, WI, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Premium Bonus
|
10% |
|
Term
|
10 Years |
|
Surrender schedule
|
9.3%9.3%8.3%7.3%6.3%5.3%4.2%3.2%2.1%1% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
01/01/2023 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
80 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, 1035 Exchange, and Inherited IRA |
Brochure
|
Open brochure |
Find out if the Heritage Growth Advantage+ is the right product for you.
Premium Notes
The HGA+ is a single premium FIA, meaning you purchase the annuity with one payment. It can be purchased for as little as $25,000 up to $1,000,000. Premiums over $1M and up to $2M will be considered. Home Office approval is required. It is available for both Qualified and Non-Qualified Accounts, for ages 18 to 80 and is available for Single or Joint Ownership. A state premium tax may apply at purchase or at annuitization.
Withdrawal Provisions
Market Value Adjustment
A Market Value Adjustment may apply to withdrawals over the Free Withdrawal options and to certain annuitization options. The MVA is based on the change in the leading bond index yield from the close of business on the day prior to your contract being issued and the close of business the day prior to your withdrawal. The MVA may be a credit, increasing your withdrawal amount, or a fee, decreasing your withdrawal amount. Due to the mechanics of an MVA, Surrender Values generally decrease as the index yield rises or remains constant. When the index yield decreases enough over time, the Surrender Values generally increase. Even with a negative MVA, you will never receive less than the Guaranteed Minimum Cash Value.
Free Withdrawal
10% of your Beginning of Year Account Value is available for withdrawal, penalty-free, after the first contract year.
Your Free Withdrawal amount can be taken as a one-time payment or as automatic installments paid annually, semi-annually, quarterly or monthly. There is a $100 minimum for automatic payments and they must be paid by electronic transfer. May be subject to additional terms.
Free withdrawals are taken from the Fixed Account, unless otherwise specified by the owner. If any withdrawal is not fully paid from the Fixed Account, the unpaid portion will be deducted pro-rata from the Account Value held in all Index Accounts with the same term, starting with the shortest-term Index Accounts. Withdrawals over 10% during the Surrender Charge Period are subject to Withdrawal Charges, Bonus Recapture, and Market Value Adjustment (MVA).
Required Minimum Distributions (RMDs)
RMDs can be taken penalty-free after the first six months. Systematic withdrawals may be scheduled for annual, semi-annual, quarterly or monthly basis. $100 minimum applies. Must be paid by electronic transfer. May be subject to additional terms.
A Market Value Adjustment may apply to withdrawals over the Free Withdrawal options and to certain annuitization options. The MVA is based on the change in the leading bond index yield from the close of business on the day prior to your contract being issued and the close of business the day prior to your withdrawal. The MVA may be a credit, increasing your withdrawal amount, or a fee, decreasing your withdrawal amount. Due to the mechanics of an MVA, Surrender Values generally decrease as the index yield rises or remains constant. When the index yield decreases enough over time, the Surrender Values generally increase. Even with a negative MVA, you will never receive less than the Guaranteed Minimum Cash Value.
Free Withdrawal
10% of your Beginning of Year Account Value is available for withdrawal, penalty-free, after the first contract year.
Your Free Withdrawal amount can be taken as a one-time payment or as automatic installments paid annually, semi-annually, quarterly or monthly. There is a $100 minimum for automatic payments and they must be paid by electronic transfer. May be subject to additional terms.
Free withdrawals are taken from the Fixed Account, unless otherwise specified by the owner. If any withdrawal is not fully paid from the Fixed Account, the unpaid portion will be deducted pro-rata from the Account Value held in all Index Accounts with the same term, starting with the shortest-term Index Accounts. Withdrawals over 10% during the Surrender Charge Period are subject to Withdrawal Charges, Bonus Recapture, and Market Value Adjustment (MVA).
Required Minimum Distributions (RMDs)
RMDs can be taken penalty-free after the first six months. Systematic withdrawals may be scheduled for annual, semi-annual, quarterly or monthly basis. $100 minimum applies. Must be paid by electronic transfer. May be subject to additional terms.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 10-Year Fixed Account (Most States) |
Fixed
|
3%
Fixed
|
| 1-Year Fixed Account (CA Only) |
Fixed
|
3%
Fixed
|
| 1-Year Morgan Stanley Dynamic US Equities PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
85%
Participation
|
| 2-Year Morgan Stanley Dynamic US Equities PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
135%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
115%
Participation
|
| 2-Year S&P MARC 5% ER PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
155%
Participation
|
| 1-Year SG Entelligent Agile 6% VT PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
105%
Participation
|
| 2-Year SG Entelligent Agile 6% VT PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
145%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Cap Guaranteed for Term |
Point to Point
Annual
|
7.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
No Riders for Heritage Growth Advantage+ annuity.
Waivers
Nursing Home
Unavailable in states: CA, and SD
Up to 50% of your Account Value is available for withdrawal, penalty-free, after the first contract year, should you be confined, on a physician’s written recommendation, to a nursing home for 90 consecutive days. Certain restrictions apply, see contract for details.
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