LiveWell Preferred 8
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Highlights
The LiveWell Preferred 8 is a flexible premium deferred fixed index annuity. An annuity is a long-term Contract issued by an insurance company. In exchange for a premium payment, the insurance company agrees to make payments to you later on. This annuity provides an accumulation value that may earn interest through a fixed account and various index accounts (if selected). While the fixed account earns a fixed rate of interest each year, index accounts earn interest credits based on how an underlying index performs. Interest credits are guaranteed to never be less than zero. This annuity also provides several options for accessing funds.
Available in states:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income & Legacy |
|
Term
|
8 Years |
|
Surrender schedule
|
8%8%8%7%6%5%4%3% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
01/28/2020 |
|
Minimum contribution
|
$10,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
85 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Find out if the LiveWell Preferred 8 is the right product for you.
Premium Notes
Minimum premium
$10,000 initial premium and $1,000 for additional premiums; $1,000,000 maximum premium. Additional premium does not extend surrender charge period.
Note: if eligible you may roll over TSP to us to be administered as a qualified tax status that we offer.
$10,000 initial premium and $1,000 for additional premiums; $1,000,000 maximum premium. Additional premium does not extend surrender charge period.
Note: if eligible you may roll over TSP to us to be administered as a qualified tax status that we offer.
Withdrawal Provisions
Death benefit
The death benefit is payable when any individual Owner dies or when all Annuitants have died, whichever is earlier. If the Owner dies and his or her spouse is the sole Beneficiary, the spouse may elect to continue the Contract as its Owner. The death benefit equals the accumulation value. The death benefit will never be lower than the Contract’s minimum surrender value. A death benefit is not available if you have already elected an annuity payout option. The Beneficiary may choose to receive the death benefit in either a lump sum or a series of income payments.
The death benefit is payable when any individual Owner dies or when all Annuitants have died, whichever is earlier. If the Owner dies and his or her spouse is the sole Beneficiary, the spouse may elect to continue the Contract as its Owner. The death benefit equals the accumulation value. The death benefit will never be lower than the Contract’s minimum surrender value. A death benefit is not available if you have already elected an annuity payout option. The Beneficiary may choose to receive the death benefit in either a lump sum or a series of income payments.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account (TX Only) |
Fixed
|
2.3%
Fixed
|
| 1-Year Fixed Account |
Fixed
|
2.3%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.05%
Cap
|
| 1-Year S&P 500 LV DRC 5% PTP Spread |
Point to Point
Annual
|
3.25%
Spread
|
| 1-Year S&P 500 LV DRC 5% PTP Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 2-Year S&P 500 LV DRC 5% PTP Participation Rate |
Point to Point
Biennial
|
80%
Participation
|
| 1-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
145%
Participation
|
| 2-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
220%
Participation
|
| 1-Year Fixed Account (TX Only) |
Fixed
|
2.5%
Fixed
|
| 1-Year Fixed Account |
Fixed
|
2.5%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.3%
Cap
|
| 1-Year S&P 500 LV DRC 5% PTP Spread |
Point to Point
Annual
|
3.05%
Spread
|
| 1-Year S&P 500 LV DRC 5% PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 2-Year S&P 500 LV DRC 5% PTP Participation Rate |
Point to Point
Biennial
|
85%
Participation
|
| 1-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
| 2-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
| 1-Year Fixed Account (TX Only) |
Fixed
|
2.7%
Fixed
|
| 1-Year Fixed Account |
Fixed
|
2.7%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.55%
Cap
|
| 1-Year S&P 500 LV DRC 5% PTP Spread |
Point to Point
Annual
|
2.85%
Spread
|
| 1-Year S&P 500 LV DRC 5% PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
| 2-Year S&P 500 LV DRC 5% PTP Participation Rate |
Point to Point
Biennial
|
90%
Participation
|
| 1-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 2-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
235%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| LiveWell Income for Life | No | 1.20% annually |
| LiveWell Legacy Protector | No | 0.35% annually |
Waivers
Death
No surrender charges or MVA are applied upon death.
Nursing Home
Unavailable in states: CA, and DC
After the first Contract anniversary, if the covered person is confined to a qualified nursing home facility for at least 90 consecutive days, you may withdraw up to 100% of your accumulation value without a surrender charge or MVA. If you withdraw 100% of your accumulation value, your Contract will terminate. This waiver is automatically included with your annuity at no additional charge. The nursing home waiver does not include home health care.
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