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 Life and Annuity Company
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Nassau Growth Annuity 10 (Group A)-brochure Nassau Growth Annuity 10 (Group A)-brochure

Nassau Growth Annuity 10 (Group A)

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Ratings:

  • A.M. Best B++

About Product

Type
Fixed Index
Purpose
Accumulation
Term
10 Years
Surrender schedule
12%12%12%11%10%9%8%7%6%4%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
Yes
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
Launch Date
08/05/2019
Growth Annuity 10 - Single premium accumulation-focused fixed indexed annuity with guaranteed lifetime withdrawal benefit options.

Notes
  • 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.
Available in states: AL, AZ, AR, CO, DC, IL, IA, KS, MD, MI, MS, NE, NV, NH, NM, NC, ND, OK, SD, TN, VT, WV, and WY

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

Free Withdrawals
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.

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