Indextra 5 NY
Indextra 5 NY
About Product
- Opportunity: Interest crediting based in part on S&P 500 Index (Index) performance.
- Certainty: Interest rates guaranteed to be never less than 0%, even if the Index goes down.
- Security: A guarantee that growth, once credited, can never be lost due to any Index decline.
Uncertain about renewal rates? Consider the Cap Lock 1-Year Point-to-Point and Multi-Year Fixed Interest Rate options. Available only at purchase, they guarantee a specified rate cap or credited rate for your entire withdrawal charge period.
Minimum Accumulation Value
Growth Guaranteed Count on a minimum accumulation value (MAV) over the life of your Indextra NY contract. Calculated daily, it equals your premium plus interest credited at the current GMIR (ranging from 1% to 3% as declared in your contract), adjusted for increases for resets and decreases for withdrawals (and related charges, if any).
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.5%
Fixed
|
| 5-Year Fixed Account |
Fixed
|
4.25%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.75%
Cap
|
| 1-Year S&P 500 PTP Cap Lock |
Point to Point
Annual
|
6.25%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
6.1%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
4.6%
Fixed
|
| 5-Year Fixed Account |
Fixed
|
4.35%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8%
Cap
|
| 1-Year S&P 500 PTP Cap Lock |
Point to Point
Annual
|
6.5%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
6.35%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% |
Riders
No Riders for Indextra 5 NY annuity.
Waivers
Death
Death Benefit is available with no withdrawal charge.
Nursing Home
Confinement to nursing home, hospital or licensed health care facility. Confinement waiver available on or after the first contract anniversary after the owner is confined for at least 60 consecutive days.
Terminal Illness
Limited life expectancy waiver available if, after the contract date, the owner is diagnosed as having a life expectancy of 12 or fewer months.
Premium Notes
- Minimum Premium
$15,000 - Maximum Premium
$1,000,000 Age 0–75
$750,000 Age 76–85 - Premium may be divided among allocation options. Minimum allocation for any option is $1,000.
Withdrawal Provisions
Free Withdrawals for Financial Flexibility Up to 10% of account value may be withdrawn each index year without incurring withdrawal charge. Minimum partial withdrawal is $250 for discretionary withdrawals and $100 for systematic withdrawals. Withdrawals of taxable amounts are subject to ordinary income tax, and, before age 59½, generally subject to a 10% IRS penalty tax. Amounts withdrawn from indexed interest options prior to the end of a crediting period will receive no interest for that crediting period. At least $5,000 of account value must remain after a partial withdrawal.
- A.M. Best A+
- Fitch AA
- S&P AA-
- Moody's Aa3
- Comdex 96
