Nassau Growth Annuity 10 (Group A)
With roots tracing back to 1851, the Nassau Life and Annuity Company finds itself in the annuity and life insurance industry. Despite selling other retirement products as well, Nassau Life is mostly known for its diverse portfolio of annuity solutions, from fixed-rate to fixed-indexed annuities. Even more particularly, the company has distinguished itself for its deferred multi-year guarantee annuity known as the ‘Nassau Life Simple Annuity 6’ product. Nassau Life’s mission is to provide practicality above all else to its customers, by way of helping them achieve financial security in retirement. Nassau is always working harder to be your carrier of choice. We build creative products that can help protect people’s savings, deliver guaranteed income, and help pay for health care costs in retirement. We’re dedicated to providing you with best-in-class service. We seek to keep things simple and will have your back in the years to come. Nassau Financial Group is headquartered in Hartford, Connecticut with $24 billion in assets under management and 379,000 policyholders. We have been doing this a long time - 170+ years - but we remain humble enough to always try to improve.
Nassau Growth Annuity 10 (Group A)
Ratings:
- A.M. Best B++
About Product
- For basic, non-rider, plan. Riders, as well as Nursing Home and Terminal Illness Waivers, are only available for issue ages 80 and below.
- If the oldest contract owner is age 81 or older at issue, the contract will be issued with the Group B States surrender charge schedule and crediting rates.
Allocation Accounts
Name | Type | Rates |
---|---|---|
2-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Biennial
|
165%
Participation
|
2-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Biennial
|
205%
Participation
|
1-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Annual
|
95%
Participation
|
1-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Annual
|
118%
Participation
|
1-Year Fixed Account |
Fixed
|
4.5%
Fixed
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.5%
Cap
|
2-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Biennial
|
85%
Participation
|
2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
70%
Participation
|
1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
67%
Participation
|
1-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Annual
|
38%
Participation
|
1-Year Nasdaq-100 PTP Enhanced Participation Rate |
Point to Point
Annual
|
48%
Participation
|
2-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Biennial
|
53%
Participation
|
2-Year Nasdaq-100 PTP Enhanced Participation Rate |
Point to Point
Biennial
|
65%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Penalty | 12% | 12% | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 4% |
Riders
No Riders for Nassau Growth Annuity 10 (Group A) annuity.
Waivers
Nursing Home
Surrender charges are waived (though an MVA will still apply) if the contract owner becomes ill and is confined to a hospital or nursing home for at least 90 consecutive days, or is diagnosed with a terminal illness (a life expectancy of 6 months or less), on or after the first contract anniversary. Nursing Home only available for issue ages 80 and below. The nursing home waiver does not include home health care.
Terminal Illness
Surrender charges are waived (though an MVA will still apply) if the contract owner becomes ill and is confined to a hospital or nursing home for at least 90 consecutive days, or is diagnosed with a terminal illness (a life expectancy of 6 months or less), on or after the first contract anniversary. Terminal Illness only available for issue ages 80 and below. (Subject to state availability)
Withdrawal Provisions
Each year during the annuity’s surrender charge period, a withdrawal up to the contract’s free withdrawal amount may be taken free of surrender charges and Market Value Adjustment (MVA), and (if applicable) pro-rated rider and strategy fees. After the specified Surrender Period, surrender charges and MVA no longer apply.
First Year Free Withdrawal
10% or RMD amount, if greater. Certain year 1 restrictions may apply on RMD's.
Withdrawal Years 2+: 10% or RMD amount, if greater.