Nassau Income Accelerator (Group D)
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Highlights
Nassau Income Accelerator is a single-premium fixed indexed annuity that provides guaranteed income for life via a choice of three guaranteed minimum withdrawal benefit riders. It offers principal protection, a 10-year surrender charge period (9 years in CA), a 10% annual free withdrawal, a fixed account as well as 13 indexed account options to capture the positive performance of market indices.
Available in states:
CA
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
10 Years |
|
Surrender schedule
|
10%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
01/16/2024 |
|
Minimum contribution
|
$15,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
80 |
|
Types of funds
|
Non-Qualified, 401k, IRA, 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 Income Accelerator (Group D) is the right product for you.
Withdrawal Provisions
Free Withdrawals
- Penalty-free withdrawals up to 10% of contract value each year
- Withdrawals for Required Minimum Distributions (RMDs) associated with this contract will not incur surrender charges or a market value adjustment
- Any withdrawals (including but not limited to Early Income Amount payments) may be subject to federal and state income tax and if taken prior to age 59½, may also be subject to a 10% federal penalty
- Withdrawals exceeding the free withdrawal amount in any year will be subject to pro-rated rider and strategy fees (if applicable)
- Withdrawals taken in excess of free withdrawal amount during the surrender charge period will also be subject to surrender charges and a market value adjustment
- Withdrawals made prior to exercising an income benefit rider or in excess of the guaranteed income payment will reduce the income benefit base and therefore reduce future guaranteed income payments
- Withdrawals taken in excess of the free withdrawal amount will be subject to pro-rated fees
- Withdrawals taken from indexed accounts will be excluded when calculating index credits
Market Value Adjustment
- Applies during the surrender charge period
- Adjustment may be positive or negative depending on the change in the interest rates since contract issue
- Adjustment will never reduce the cash surrender value below the Total Guaranteed Value. Likewise, the maximum positive adjustment to the surrender value cannot exceed the maximum negative adjustment (state variations may apply)
- Applies when surrender charges are waived under the nursing home and terminal illness waiver
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Annual
|
48%
Participation
|
| 1-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Annual
|
26%
Participation
|
| 2-Year Sunrise Smart Passage SG Enhanced Participation Rate |
Nassau Sunrise
Biennial
|
85%
Participation
|
| 2-Year Sunrise Smart Passage SG Participation Rate |
Nassau Sunrise
Biennial
|
45%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 2-Year Nasdaq-100 PTP Enhanced Participation Rate |
Point to Point
Biennial
|
32%
Participation
|
| 2-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Biennial
|
19%
Participation
|
| 1-Year Nasdaq-100 PTP Enhanced Participation Rate |
Point to Point
Annual
|
23%
Participation
|
| 1-Year Nasdaq-100 PTP Participation Rate |
Point to Point
Annual
|
13%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
27%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
25%
Participation
|
| 2-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Biennial
|
41%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
4%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
16%
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 |
|---|---|---|
| Flex-Forward Income Benefit Rider | No | 0.95% annually (1.50% max) |
| Income Horizon: Early Rider | No | 0.95% annually (1.50% max) |
| Income Horizon: Later Rider | No | 0.95% annually (1.50% max) |
Waivers
No Waivers for Nassau Income Accelerator (Group D) annuity.
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