MEGA Choice 2
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Learn how an annuity can provide guaranteed income for life.
Highlights
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Premium Type
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Flexible Premium
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|---|---|
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Max age Qualified
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95
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Minimum Contribution
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$10,000
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Maximum Contribution
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$1,000,000
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Market value adjustment
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Return of premium
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|
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Free withdrawal
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1st year: -100% 2nd+ year: 100% |
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Launch date
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09/18/2023 |
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Types of funds
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Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, KEOGH, IRA-Roth, SIMPLE IRA, and 1035 Exchange |
Brochure
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Open brochure |
MEGA Choice 2 is a Flexible Premium Deferred Annuity.
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
$10,000 – Maximum $1,000,000 (Q/NQ)
Additional deposits are accepted through the life of the policy with decreasing surrender charges.
Issue Age
0-95
Free Withdrawals
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
$10,000 – Maximum $1,000,000 (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)
- RMD for qualified plans
- Death of annuitant
- Annuitization
- Additional deposits do not reset penalty period
Death Benefit
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.
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.
Find out if the MEGA Choice 2 is the right product for you.
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 2 | 5% | 4% | 5% |
Riders
No Riders for MEGA Choice 2 annuity.
Waivers
Death
Free Withdrawals Without ISDA Surrender Charges: Death of annuitant
Annuitization
Free Withdrawals Without ISDA Surrender Charges: Annuitization – 2 year minimum
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