NAC BenefitSolutions 10
Highlights
- Lifetime payments
- Enhanced payments for qualified nursing home care
- Death benefit
Type
|
Fixed Index |
---|---|
Purpose | Lifetime Income |
Term
|
10 Years |
Surrender schedule
|
10%10%9%9%8%8%7%6%4%2% |
Free withdrawal
|
5% |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
01/07/2015 |
Minimum contribution
|
$20,000 |
Maximum contribution
|
$1,000,000 |
Max Age Qualified
|
79 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, and TSP |
Brochure
|
Open brochure |
Find out if the NAC BenefitSolutions 10 is the right product for you.
Premium Notes
Available issue ages 40-79 (qualified and non-qualified)
Minimum premium
Single premium, $20,000 qualified and non-qualified
Note: if eligible you may roll over TSP to us to be administered as a qualified tax status that we offer.
Withdrawal Provisions
Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may also have to pay a 10% IRS penalty. Withdrawals will reduce your accumulation value accordingly.
By current company practice, we’ll waive surrender charges and market value adjustments on any portion of an IRS-required minimum distribution that goes beyond what’s available to you penalty-free.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
2.3%
Fixed
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.85%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
25%
Participation
|
1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
90%
Participation
|
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
1-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
2-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Biennial
|
145%
Participation
|
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
145%
Participation
|
2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
135%
Participation
|
2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
35%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5%
Cap
|
1-Year Goldman Sachs Equity TimeX PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
2-Year Goldman Sachs Equity TimeX PTP Participation Rate |
Point to Point
Biennial
|
75%
Participation
|
2-Year Barclays Transitions 12 VC PTP Participation Rate |
Point to Point
Biennial
|
70%
Participation
|
2-Year Barclays Transitions 6 VC PTP Participation Rate |
Point to Point
Biennial
|
140%
Participation
|
1-Year Barclays Transitions 12 VC PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
1-Year Barclays Transitions 6 VC PTP Participation Rate |
Point to Point
Annual
|
90%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Penalty | 10% | 10% | 9% | 9% | 8% | 8% | 7% | 6% | 4% | 2% |
Riders
Name | Inbuilt | Fee |
---|---|---|
Guaranteed Benefits 10 Rider | Yes | 1.20% annually |
Guaranteed Benefits 10 Rider (AK, CT, HI, IL, MN, MO, NJ, OR, PA, UT, VA, WA) | Yes | 1.20% annually |
Waivers
Nursing Home
Unavailable in states: CA, and MA
Up to 100% of the annuity’s accumulation value can be withdrawn without a surrender charge or market value adjustment, if the annuitant is confined to a qualified care facility (skilled nursing facility or residential care facility for the elderly in CA), for at least 90 consecutive days as defined in the rider, any time after the first contract year. The annuitant cannot be confined at the time the contract is issued. If 100% of the accumulation value is taken, it will be considered a full surrender and your contract will terminate. This rider is automatically included with the annuity at no additional charge.
ADL
Unavailable in states: CA
LPA multiplier can double LPA for up to five years if unable to perform two of six activities of daily living (ADLs)
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