Nassau Bonus Annuity Plus (Group B)
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Highlights
Nassau Bonus Annuity Plus is a single premium accumulation-focused fixed indexed annuity with an enhanced premium bonus.
Nassau Bonus Annuity Plus helps increase retirement savings with Nassau's highest premium bonus and competitive total accumulation potential, including powerful growth options as well as enhanced control over savings. An enhanced benefit fee of 0.95% of your annuity’s contract value is charged annually during the 10-year surrender charge period for the premium bonus, liquidity rollover feature and early return of premium surrender benefit.
Nassau Bonus Annuity Plus helps increase retirement savings with Nassau's highest premium bonus and competitive total accumulation potential, including powerful growth options as well as enhanced control over savings. An enhanced benefit fee of 0.95% of your annuity’s contract value is charged annually during the 10-year surrender charge period for the premium bonus, liquidity rollover feature and early return of premium surrender benefit.
- Immediately boost retirement savings with a guaranteed up-front premium bonus.
- Benefit from upside market performance through participation in growth-focused indexed accounts.
- Have greater control of your savings with annual free withdrawals that can potentially rise each year and an early return of premium surrender benefit.
- Insure against market losses with principal protection.
Available in states:
AK, CT, DE, FL, GA, HI, IN, KY, LA, MA, MN, MO, MT, OH, OR, PA, RI, SC, TX, UT, VA, WA, and WI
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Premium Bonus
|
16% |
|
Term
|
10 Years |
|
Surrender schedule
|
9.6%8.7%7.8%6.8%5.9%4.9%3.9%3%2%1% |
|
Free withdrawal
|
5% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
08/12/2024 |
|
Minimum contribution
|
$15,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
85 |
|
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 |
Brochure
|
Open brochure |
Find out if the Nassau Bonus Annuity Plus (Group B) 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 RMDs associated with this contract will not incur surrender charges, Market Value Adjustment (MVA), recovery of non-vested premium bonus, or enhanced benefit fees
- Any withdrawals may be subject to federal and state income tax
- Withdrawals exceeding the free withdrawal amount during the surrender charge period 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 prorated strategy and enhanced benefit 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 Withdrawal Rollover Feature
- 5% free annual withdrawals
- Additional 5% available next contract year if no withdrawals taken in prior contract year
- Up to 25% free annual withdrawal percentage if no prior withdrawals, including Required Minimum Distributions (RMDs), are taken in any of the previous contract years
- Annual withdrawal percentage resets to 5% in current contract year if any withdrawals, including RMDs, are taken in previous contract year
- Free withdrawal amount calculated as a percentage of the contract value less any non-vested premium bonus.
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
- MVA is waived on withdrawals under the contract’s free withdrawal amount and upon death.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Annual
|
83%
Participation
|
| 2-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Biennial
|
110%
Participation
|
| 1-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Annual
|
60%
Participation
|
| 2-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Biennial
|
150%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3.1%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
45%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
47%
Participation
|
| 2-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Biennial
|
62%
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
|
| 1-Year Smart Passage SG PTP Participation Rate |
Point to Point
Annual
|
33%
Participation
|
| 2-Year Smart Passage SG PTP Participation Rate |
Point to Point
Biennial
|
48%
Participation
|
| 1-Year Smart Passage SG PTP Enhanced Participation Rate |
Point to Point
Annual
|
46%
Participation
|
| 2-Year Smart Passage SG PTP Enhanced Participation Rate |
Point to Point
Biennial
|
65%
Participation
|
| 2-Year Nasdaq-100 PTP Enhanced Participation Rate |
Point to Point
Biennial
|
48%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Enhanced Benefit | Yes | 0.95% annually (0.00% after 9 years) |
Waivers
Nursing Home
Unavailable in states: MA
If the owner is confined to a nursing home on or after the first contract anniversary, for at least 90 consecutive days, surrender charge may be waived but recovery of non-vested premium bonus, pro-rated fees and MVA still apply. Nursing Home and Terminal Illness Waivers are only available for issue ages 80 and below.
Terminal Illness
If the client is diagnosed with a terminal illness on or after the first contract anniversary, surrender charge may be waived but recovery of non-vested premium bonus, pro-rated fees and MVA still apply. A terminal illness is a condition that is expected to result in the owner’s death within six months. Nursing Home and Terminal Illness Waivers are only available for issue ages 80 and below.
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