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5.80%

Nassau Bonus Annuity (Group C) Income Benefit

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Highlights

Nassau Bonus Annuity is a Single Premium Accumulation-Focused Fixed Indexed Annuity with a Premium Bonus and Guaranteed Lifetime Withdrawal Benefit Options. 
Available in states: CA
Type
Fixed Index
Purpose Lifetime Income
Premium Bonus
10%
Term
9 Years
Surrender schedule
8.6%7.6%6.6%5.6%4.6%3.6%2.5%1.5%0.4%
Free withdrawal
10%
Market value adjustment
Return of premium
Launch date
02/09/2023
Minimum contribution
$15,000
Maximum contribution
$1,000,000
Max Age Qualified
80
Types of funds
Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, Pension, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, KEOGH, IRA-Roth, SIMPLE IRA, 457 plan, 1035 Exchange, and TSP
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Find out if the Nassau Bonus Annuity (Group C) Income Benefit is the right product for you.

Withdrawal Provisions

Withdrawals
  • Withdrawals up to the contract’s free withdrawal amount are free of fees and charges.
  • Withdrawals for Required Minimum Distributions (RMDs) associated with this contract will not incur surrender charges, Market Value Adjustment (MVA), or recovery of non-vested premium bonus.
  • Withdrawals prior to rider exercise (if elected) reduce the income benefit base, but do not stop growth of the reduced income benefit base 
  • Any withdrawals may be subject to federal and state income tax.
  • Withdrawals exceeding the free withdrawal amount during the surrender charge period (also known as “excess withdrawals”) will be subject to surrender charges, recovery of non-vested premium bonus amounts and MVA. Withdrawals exceeding the free withdrawal amount in any year will be subject to pro-rated rider and strategy fees (if applicable).
  • Withdrawals are always taken from the fixed account value first. Afterwards, withdrawals are taken proportionately from indexed accounts. Withdrawals taken from indexed accounts will be excluded when calculating index credits.
Free Withdrawals
Each year during your annuity’s surrender charge period you may withdraw up to 10% (the free withdrawal amount) of your contract value, free of surrender charges, a Market Value Adjustment (MVA), recovery of non-vested premium bonus and prorated rider and strategy fees. Any withdrawals taken during an index segment will not qualify for partial index credit at the end of the segment. 

Market Value Adjustment (MVA) 
  • Applies during the surrender charge period
  • Adjustment may be positive or negative depending on the change in the interest rates since contract issue
  • The maximum positive adjustment to the cash surrender value cannot exceed the maximum negative adjustment
  • Applies when surrender charges are waived under the nursing home waiver or terminal illness waiver (see “Surrender Charges” below for details
  • MVA is waived on withdrawals under the contract’s free withdrawal amount, on death benefit and on annuitization 

Allocation Accounts

Name Type Rates
1-Year Sunrise Smart Passage SG Participation Rate
Nassau Sunrise
Annual
65% Participation
2-Year Sunrise Smart Passage SG Participation Rate
Nassau Sunrise
Biennial
117% Participation
1-Year Sunrise Smart Passage SG Enhanced Participation Rate
Nassau Sunrise
Annual
89% Participation
2-Year Sunrise Smart Passage SG Enhanced Participation Rate
Nassau Sunrise
Biennial
156% Participation
1-Year Fixed Account
Fixed
3.65% Fixed
2-Year Nasdaq-100 PTP Enhanced Participation Rate
Point to Point
Biennial
48% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.5% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
47% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
47% Participation
1-Year S&P 500 PTP Enhanced Participation Rate
Point to Point
Annual
58% Participation
2-Year S&P 500 PTP Enhanced Participation Rate
Point to Point
Biennial
63% Participation
1-Year Nasdaq-100 PTP Participation Rate
Point to Point
Annual
25% Participation
2-Year Nasdaq-100 PTP Participation Rate
Point to Point
Biennial
35% Participation
1-Year Nasdaq-100 PTP Enhanced Participation Rate
Point to Point
Annual
35% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9
Penalty 9% 8% 7% 6% 5% 4% 3% 2% 0%

Riders

Name Inbuilt Fee
Bonus Annuity Amplified Income Plus Yes 0.95% annually (1.50% max)
Bonus Annuity Amplified Income Plus with Rising Income Opportunity Yes 0.95% annually (1.50% max)

Waivers

Terminal Illness

Surrender charges are waived (though an MVA and recovery of non-vested premium bonus will still apply) if the contract owner becomes ill and is diagnosed with a terminal illness (a life expectancy of 6 months or less), on or after the first contract anniversary.

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