Nassau Growth Annuity 10 (Group A) Income Benefit
Highlights
Notes
- 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 rate.
- For basic, non-rider, plan. Riders, as well as Nursing Home and Terminal Illness Waivers, are only available for issue ages 80 and below.
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
10 Years |
|
Surrender schedule
|
12%12%12%11%10%9%8%7%6%4% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
08/05/2019 |
|
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 |
Brochure
|
Open brochure |
Find out if the Nassau Growth Annuity 10 (Group A) Income Benefit is the right product for you.
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.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 2-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Biennial
|
205%
Participation
|
| 2-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Biennial
|
165%
Participation
|
| 1-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Annual
|
118%
Participation
|
| 1-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Annual
|
95%
Participation
|
| 1-Year Fixed Account |
Fixed
|
5%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
62%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11.5%
Cap
|
| 2-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Biennial
|
90%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
75%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
73%
Participation
|
| 1-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Annual
|
42%
Participation
|
| 1-Year Nasdaq-100 PTP Enhanced Participation Rate |
Point to Point
Annual
|
52%
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
| Name | Inbuilt | Fee |
|---|---|---|
| Amplified Income Plus | Yes | 0.95% annually (1.50% max) |
| Amplified Income Rider | Yes | 0.25% annually (0.75% max) |
| Amplified Income with Rising Income Opportunity | Yes | 0.25% annually (0.75% max) |
| Amplified Income Plus with Rising Income Opportunity | Yes | 0.95% annually (1.50% max) |
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. 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. (Subject to state availability)
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