Zenith Income 7 with Max Bonus
Highlights
The Max Bonus GLIR is inbuilt into this product.
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
7 Years |
|
Surrender schedule
|
8.25%8%7%6%5%4%3% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
07/06/2023 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$2,000,000 |
|
Max Age Qualified
|
75 |
|
Types of funds
|
Non-Qualified, IRA, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, and 457 plan |
Find out if the Zenith Income 7 with Max Bonus is the right product for you.
Premium Notes
35-75
Minimum Premium
$25,000
Maximum Premiums
- Ages 35-70: $2,000,000
- Ages 71-75: $1,500,000
Withdrawal Provisions
A Market Value Adjustment will apply to withdrawals in excess of the penalty-free withdrawal amount for the first 5, 7, or 10 policy years, depending on the length of the policy.
Free Withdrawals
10% of accumulation value available after the first policy year as permitted by law.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.75%
Fixed
|
| 2-Year US Fundamental Balanced PTP Participation Rate with Booster |
Point to Point
Biennial
|
370%
Participation
|
| 2-Year US Fundamental Balanced PTP Participation Rate |
Point to Point
Biennial
|
295%
Participation
|
| 1-Year US Fundamental Balanced PTP Participation Rate with Booster |
Point to Point
Annual
|
265%
Participation
|
| 1-Year US Fundamental Balanced PTP Participation Rate |
Point to Point
Annual
|
215%
Participation
|
| 2-Year Global Balanced PTP Participation Rate with Booster |
Point to Point
Biennial
|
370%
Participation
|
| 2-Year Global Balanced PTP Participation Rate |
Point to Point
Biennial
|
295%
Participation
|
| 1-Year Global Balanced PTP Participation Rate with Booster |
Point to Point
Annual
|
265%
Participation
|
| 1-Year Global Balanced PTP Participation Rate |
Point to Point
Annual
|
215%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap with Booster |
Point to Point
Annual
Monthly sum
|
3.5%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
3%
Cap
|
| 2-Year S&P 500 PTP Cap with Booster |
Point to Point
Biennial
|
37%
Cap
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
25%
Cap
|
| 1-Year S&P 500 PTP Cap with Booster |
Point to Point
Annual
|
13.75%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Max Bonus GLIR Level | Yes | 1.00% annually |
| Max Bonus GLIR Increasing | Yes | 1.00% annually |
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.
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