Elite 8
Elite 8 Annuity provides flexibility and security for your long-term retirement plans. You can start with a minimum of $300 and continue making additional deposits throughout the life of the policy. The fixed interest rate of 2.80% ensures consistent growth of your retirement fund, plus you have access to annual free withdrawals.
Indeed, Elite 8 is structured to benefit you in your golden years. The contract cash value – easily accumulated through premiums paid, interest credits, and dividends – becomes a guaranteed death benefit for peace of mind. In case of death, your loved ones are well taken care of. Affordable deposits, friendly perks, and solid security, Elite 8 is an annuity worth considering.
Elite 8
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 8 | 6% | 3.38% | 6% |
A fixed annuity is a contract whereby for the premium or multiple premiums received, ISDA agrees to pay the Owner income from this annuity at a later date. Annuities are meant to provide funds for retirement and are considered to be long term.
Note: If an Owner other than the annuitant purchases the annuity, that Owner shall have control of the annuity contract issued until ownership is transferred to the annuitant.
Minimum Deposit
$300 ($25 month ACH) – Maximum $4,999 (Q/NQ)
Additional deposits are accepted through the life of the policy with decreasing surrender charges.
Issue Age
0-95
Free Withdrawals
- Interest W/D After 30 Days
- 10% of cash value at 1st anniversary (contractual)
- plus 5% of cash value at 1st anniversary (fraternal benefit)
- RMD for qualified plans
- Death of annuitant
- Annuitization – 8 year minimum
- Additional deposits do not reset penalty
The death benefit payable at the death of the Annuitant shall be the contract cash value as of the date of death. The contract cash value is (1) the sum of premiums paid plus (2) interest credits plus (3) any dividends added less (4) any withdrawals.
Riders
No Riders for Elite 8 annuity.
Waivers
Death
Free Withdrawals Without ISDA Surrender Charges: Death of annuitant
Nursing Home
Annuity withdrawal charges will be waived for: Annuity withdrawals for nursing home expenses for the annuitant if we have been provided with proof that the annuitant is confined to a licensed skilled nursing facility, and that the annuitant has been confined for a continuous period of 90 days or more. Proof shall consist of itemized statements or receipts for medical expenses incurred during the annuitant’s confinement in a licensed medical care facility.
Annuitization
Free Withdrawals Without ISDA Surrender Charges: Annuitization – 8 year minimum
- A.M. Best -
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