MEGA Flex 5
The MEGA Flex 5 is a Flexible Premium Deferred Annuity that provides reliable income for your retirement. With a generous minimum deposit of $10,000, you can have peace of mind knowing that your money is working for you. Plus, extra deposits are allowed throughout the policy period, providing you with financial flexibility.
You also enjoy free withdrawals such as 10% of cash value at the 1st anniversary, ensuring you can access your funds when you need them. The product also comes with a noteworthy death benefit. It's comforting to acknowledge that your loved ones will be taken care of after your demise. MEGA Flex 5 is a smart long-term financial strategy that aligns perfectly with your retirement planning needs.
MEGA Flex 5
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 6% | 3.6% | 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
$10,000 – Maximum $875,000 (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
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 MEGA Flex 5 annuity.
Waivers
Death
Free Withdrawals Without ISDA Surrender Charges: Death of annuitant
Nursing Home
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 – 5 year minimum
- A.M. Best -
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