Growth Driver 7
The Growth Driver 7 annuity is a versatile and dependable option for retiree's peace of mind. It's delightfully straightforward, reliable returns make future planning a breeze.
All your hard-earned savings can finally give you a relaxing, worry-free retirement. With Growth Driver 7's secure income system, you'll be enjoying the sweet life in no time.
Growth Driver 7
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.9%
Fixed
|
| 2-Year US Fundamental Balanced PTP Participation Rate with Booster |
Point to Point
Biennial
|
245%
Participation
|
| 2-Year US Fundamental Balanced PTP Participation Rate |
Point to Point
Biennial
|
180%
Participation
|
| 1-Year US Fundamental Balanced PTP Participation Rate with Booster |
Point to Point
Annual
|
175%
Participation
|
| 1-Year US Fundamental Balanced PTP Participation Rate |
Point to Point
Annual
|
130%
Participation
|
| 2-Year Global Balanced PTP Participation Rate with Booster |
Point to Point
Biennial
|
245%
Participation
|
| 2-Year Global Balanced PTP Participation Rate |
Point to Point
Biennial
|
180%
Participation
|
| 1-Year Global Balanced PTP Participation Rate with Booster |
Point to Point
Annual
|
175%
Participation
|
| 1-Year Global Balanced PTP Participation Rate |
Point to Point
Annual
|
130%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap with Booster |
Point to Point
Annual
Monthly sum
|
2.2%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.65%
Cap
|
| 2-Year S&P 500 PTP Cap with Booster |
Point to Point
Biennial
|
26%
Cap
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
17%
Cap
|
| 1-Year S&P 500 PTP Cap with Booster |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
No Riders for Growth Driver 7 annuity.
Waivers
Nursing Home
Unavailable in states: CA, IL, LA, MA, MT, NH, NJ, SC, SD, WA, WV, and WI
The Nursing Care Rider gives clients peace of mind that they will have access to a portion of savings without surrender charges in the case of a qualifying event.
Terminal Illness
Unavailable in states: CA, IL, LA, MA, MO, MT, NH, NJ, OR, PA, SC, UT, WV, and WI
Terminal Illness Benefit eliminates withdrawal charges for the annuitant on one withdrawal if the policy has been in force longer than one year at the onset of the terminal illness, from which the client is physician-certified to have 12 months or fewer to live.
Emergency Access
Emergency Access Waiver allows clients to have all withdrawal charges waived for 403(b) hardship or 457(b) unforeseen emergency distributions, if approved by the Plan/TPA. For separation from service or disability, 20% of withdrawal charges (for withdrawals above 10% of the accumulation value) are waived in years 2-4; starting in year 5, all withdrawal charges are waived. Available for 403(b) and 457(b) plans only.
Premium Notes
0-75
Minimum Premium
$25,000 within 90 days of policy issue.
Maximum Premiums
- Ages 0–70: $2,000,000
- Ages 71–75: $1,500,000
Withdrawal Provisions
Market Value AdjustmentA Market Value Adjustment will apply to withdrawals in excess of the penalty-free withdrawal amount for the first 7 policy years.Free Withdrawals10% of accumulation value available after the first policy year as permitted by law.
- A.M. Best A+
- S&P A+
- Moody's A1
- Comdex 90
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