SpireMark
SpireMark
Does SpireMark make your top 3?
Our clients typically get 23% more income than their first quote.
About Product
SpireMark provides strong accumulation potential provided by a diverse range of Interest Crediting Allocations, protection from stock market–related losses, flexible access for certain qualifying life events when you need it, and tax deferral. Together, these benefits make SpireMark, issued by TruSpire Retirement Insurance Company, a compelling option to consider as you plan for the future you want.
Allocation Blueprints
As an alternative to clients hand-selecting their Interest Crediting Allocations, PillarMark offers three preset Allocation Blueprints, available only at contract issue, to help simplify allocation selections. Allocation Blueprints are the same for both products and may offer higher caps and participation rates than are available with individual Interest Crediting Allocation selections. Each Allocation Blueprint is designed to provide diversified growth potential. Blueprints are comprised of diverse blends of one-year options. Clients may choose one Allocation Blueprint, comprising 100% of their allocations, to suit their preferred earnings approach: Foundation, for a more conservative earnings approach; Keystone, for a more moderate earnings approach; and Pinnacle, for a more aggressive earnings approach.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Hypothetical Projection
Riders
No Riders for SpireMark annuity.
Waivers
Nursing Home
In the event that your health declines and you meet the eligibility criteria, you can access up to 100% of your Account Value without incurring a surrender charge or an MVA after the first contract year. To qualify, you must meet the criteria listed in the contract’s rider. Waivers may apply for qualified Nursing Home. Confinement: You become confined for at least 60 consecutive days in a qualified institution as defined in the contract. The contract must be in force for at least one year. Please refer to your contract for details. Confinement must have been for at least 60 consecutive days beginning on or after the Contract Date (and not before). Please refer to your contract for details.
Terminal Illness
In the event that your health declines and you meet the eligibility criteria, you can access up to 100% of your Account Value without incurring a surrender charge or an MVA after the first contract year. To qualify, you must meet the criteria listed in the contract’s rider. Waivers may apply for Terminal Illness. You are diagnosed with a terminal illness that results in a life expectancy of one year or less. The contract must be in force for at least one year. Please refer to your contract for details. Terminal illness diagnosis must have been on or after the Contract Date. Please refer to your contract for details.
ADL
In the event that your health declines and you meet the eligibility criteria, you can access up to 100% of your Account Value without incurring a surrender charge or an MVA after the first contract year. To qualify, you must meet the criteria listed in the contract’s rider. Waivers may apply for Home Health Care. If you require home health care services and use a licensed home health care service agency due to impairment in performing at least two of the six activities of daily living (bathing, continence, dressing, eating, toileting, and transferring), you may qualify. The contract must be in force for at least one year. Please refer to your contract for details. The covered person must not have received home health care services prior to the Contract Date. Please refer to your contract for details.
RMD
IRS Required Minimum Distributions are free of surrender charges.
Premium Notes
50–85 (Q and NQ).
Premium
Minimum $25,000.
Minimum additional: $2,000 (allowed in Year 1 only).
Maximum $2,000,000 per owner without prior Home Office approval.
Withdrawal Provisions
Free Partial Surrenders10% available in Year 1. Starting in Year 2, cumulative free withdrawals up to a maximum 20% if no withdrawals are taken in prior year. Or, required minimum distribution (RMD) associated with the contract. Market Value Adjustment (MVA)MVA Period starts on contract date and lasts 10 years. A new 10-year MVA Period begins every 10th contract anniversary. Doesn’t apply during the 30-day window before each new MVA Period.
- A.M. Best B++
