Income Driver 10
The Income Driver 10 is a fantastic annuity product! It boasts an easy and flexible pension plan. You'll enjoy steady payments that are guaranteed to increase yearly, ensuring that you maintain a comfortable lifestyle even as inflation rises.
Safe and reliable, this annuity is designed for peace of mind; your hard-earned money will be there when you need it most. It's like having a personal paycheck, even in retirement. A smart choice for a worry-free future!
Income Driver 10
Ratings:
- A.M. Best A+
- S&P A+
- Moody's A1
- Comdex 90
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.5%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8%
Cap
|
| 1-Year S&P 500 PTP Cap with Booster |
Point to Point
Annual
|
10%
Cap
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
17%
Cap
|
| 2-Year S&P 500 PTP Cap with Booster |
Point to Point
Biennial
|
21%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap with Booster |
Point to Point
Annual
Monthly sum
|
2.5%
Cap
|
| 1-Year Global Balanced PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 1-Year Global Balanced PTP Participation Rate with Booster |
Point to Point
Annual
|
200%
Participation
|
| 2-Year Global Balanced PTP Participation Rate |
Point to Point
Biennial
|
210%
Participation
|
| 2-Year Global Balanced PTP Participation Rate with Booster |
Point to Point
Biennial
|
280%
Participation
|
| 1-Year US Fundamental Balanced PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 1-Year US Fundamental Balanced PTP Participation Rate with Booster |
Point to Point
Annual
|
200%
Participation
|
| 2-Year US Fundamental Balanced PTP Participation Rate |
Point to Point
Biennial
|
210%
Participation
|
| 2-Year US Fundamental Balanced PTP Participation Rate with Booster |
Point to Point
Biennial
|
280%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
|---|---|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Standard GLIR Level | Yes | 1.00% annually |
| Standard GLIR Increasing | Yes | 1.00% annually (1.00% after 2 years) (1.00% max) |
| No Charge GLIR Level | Yes | |
| No Charge GLIR Increasing | Yes |
Waivers
Nursing Home
Unavailable in states: CA, IL, LA, MA, MT, NH, NJ, SC, SD, WA, WV, and WI
Nursing Care 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
45-85
Minimum Premium
$25,000
Maximum Premiums
- Ages 45-70: $2,000,000
- Ages 71-75: $1,500,000
- Ages 76-80: $1,000,000
- Ages 81-85: $500,000
Withdrawal Provisions
A Market Value Adjustment will apply to withdrawals in excess of the penalty-free withdrawal amount for the first 10 policy years.
Free Withdrawals
10% of accumulation value available after the first policy year as permitted by law.
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