RetireMax Secure
Highlights
|
Premium Type
|
Single Premium
|
|---|---|
|
Max age Qualified
|
90
|
|
Minimum Contribution
|
$25,000
|
|
Maximum Contribution
|
$2,000,000
|
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Free withdrawal
|
10% |
|
Launch date
|
10/19/2022 |
|
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, and 1035 Exchange |
Brochure
|
Open brochure |
Available for Ages: 0–90
The Minimum Premium amount is $25,000.
The Maximum Premium amount depends on age at issue:
- Age 0-70: $2,000,000
- Age 71-75: $1,500,000
- Age 76-80: $1,000,000
- Age 81-85: $500,000
- Ages 86–90 $250,000
- Withdraw up to 10% annually of the accumulation value of your annuity without a withdrawal charge or Market Value Adjustment (MVA), starting in year 2.
- Some withdrawal charges are also waived for qualifying nursing care needs or terminal illness.
- In the first year, withdrawals incur a charge (and MVA).
- Withdrawals cannot be paid back into the annuity.
- The minimum partial withdrawal you may request is $500.
- You must keep at least $5,000 in the annuity to keep it in force.
- You can set up automatic withdrawals to take out money on a regular basis.
- Withdrawal charges (and MVA) do not apply to the death benefit.
If you got the annuity as part of an employer’s 403(b) or 457(b) retirement plan, you may also be able to take a loan, using your annuity as collateral, without fees or withdrawal charges. If your employer permits loans. Loans are subject to IRS rules, guidelines and limitations, and any limitations in applicable plan documents. You will be provided with a repayment schedule.
- If you are the annuitant and you die while this annuity is in force, the full accumulation value will be paid to your beneficiaries without withdrawal charges (or MVA).
- Your named beneficiaries can avoid the expense, delay, and publicity of probate.13
- Your beneficiaries can choose to receive the death benefit as one payment or as a series of payments over time. If your death occurs after periodic income payments have begun, any payments which remain to be paid under your payment option selection will be paid to your beneficiary.
Find out if the RetireMax Secure is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.6% |
| 5 years | 4.7% |
Riders
No Riders for RetireMax Secure annuity.
Waivers
Death
Withdrawal charges (and MVA) do not apply to the death benefit.
Nursing Home
Use the Nursing Care Rider to access a portion of your accumulation value without a withdrawal charge (or MVA) if you become confined to a nursing care facility, starting in the second year.
Terminal Illness
Use the Terminal Illness Rider to access a portion of your accumulation value without a withdrawal charge (or MVA) if you are diagnosed with a terminal illness, starting in the second year.
Request a free quote or talk to our financial expert to get help