Nassau Growth Annuity 10 (Group C) Income Benefit
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Highlights
Growth Annuity 10 - Single premium accumulation-focused fixed indexed annuity with guaranteed lifetime withdrawal benefit options.
Notes
Notes
- Our products are issued through Nassau Life Insurance and Annuity Company in California
- For basic, non-rider, plan. Riders, as well as Nursing Home and Terminal Illness Waivers, are only available for issue ages 80 and below.
Available in states:
CA
Type
|
Fixed Index |
---|---|
Purpose | Lifetime Income |
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
|
08/05/2019 |
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, and 1035 Exchange |
Brochure
|
Open brochure |
Find out if the Nassau Growth Annuity 10 (Group C) Income Benefit is the right product for you.
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.
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
|
200%
Participation
|
2-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Biennial
|
160%
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
|
116%
Participation
|
1-Year Fixed Account |
Fixed
|
4.9%
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%
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
|
40%
Participation
|
1-Year Nasdaq-100 PTP Enhanced Participation Rate |
Point to Point
Annual
|
50%
Participation
|
2-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Biennial
|
52%
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 |
---|---|---|---|---|---|---|---|---|---|
Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 0% |
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
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)
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