NAC Charter Plus 14 High Band with EBR
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Highlights
The Charter Plus 14 is a flexible premium annuity with a 14-year surrender charge period and an MVA provision. The Charter Plus 14 also pays a Premium Bonus on all premiums paid during the first seven years.
Annuitization
By current company practice, you may receive an income from the Accumulation Value after the first contract year (without surrender charges, premium bonus recapture, or Market Value Adjustment) if you choose a Life Income Option. You can also receive an income based on the Accumulation Value if your annuity has been in force for at least five years and payments will be over at least a ten-year period. Once a payout option is selected it cannot be changed and all other rights and benefits under the annuity end.
With the exception of Life Income options, income options are available for:
Annuitization
By current company practice, you may receive an income from the Accumulation Value after the first contract year (without surrender charges, premium bonus recapture, or Market Value Adjustment) if you choose a Life Income Option. You can also receive an income based on the Accumulation Value if your annuity has been in force for at least five years and payments will be over at least a ten-year period. Once a payout option is selected it cannot be changed and all other rights and benefits under the annuity end.
With the exception of Life Income options, income options are available for:
- A minimum of 5 years, or
- A maximum of 20 years.
The following options are available:
- Income for a Specified Period
- Income for a Specified Amount
- Life Income with a Period Certain
- Life Income
- Joint and Survivor Life Income
For Florida:
You may select an annuity payout option based on the accumulation value at any time after the first contract year. Choose from:
You may select an annuity payout option based on the accumulation value at any time after the first contract year. Choose from:
- life income
- life income with a 10-year period certain
- life income with a 20-year period certain
- joint and survivor life income
- joint and survivor life income with 10- or 20-year period certain
Available in states:
AL, AZ, AR, CO, DC, FL, GA, IL, IA, KS, KY, LA, ME, MA, MI, MS, NE, NH, NM, NC, ND, RI, SD, TN, VT, WV, WI, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Premium Bonus
|
26% |
|
Term
|
14 Years |
|
Surrender schedule
|
12%12%11%11%10%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
09/01/2015 |
|
Minimum contribution
|
$75,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
75 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Find out if the NAC Charter Plus 14 High Band with EBR is the right product for you.
Premium Notes
Issue ages (may vary by state)
Available issue ages 0-75; CA 0-52, IN & NH 0-74 (qualified and non-qualified).
For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established.
Minimum premium
Flexible Premium, $75,000 non-qualified and qualified.
Available issue ages 0-75; CA 0-52, IN & NH 0-74 (qualified and non-qualified).
For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established.
Minimum premium
Flexible Premium, $75,000 non-qualified and qualified.
Note: if eligible you may roll over TSP to us to be administered as a qualified tax status that we offer.
Withdrawal Provisions
Free Withdrawals
After the first contract anniversary, a penalty-free withdrawal (also known as a penalty-free partial surrender), of up to 10% of the accumulation value may be taken each year. After the surrender charge period, surrender charges, premium bonus recapture, and a market value adjustment no longer apply to any withdrawals.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.55%
Fixed
|
| 2-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Biennial
|
165%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.25%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
25%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.75%
Cap
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
40%
Participation
|
| 1-Year Goldman Sachs Equity TimeX PTP Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 2-Year Goldman Sachs Equity TimeX PTP Participation Rate |
Point to Point
Biennial
|
90%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
165%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year Morgan Stanley Dynamic Global PTP Participation Rate |
Point to Point
Annual
|
115%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
| 1-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 2-Year Morgan Stanley Dynamic Global PTP Enhanced Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
| 2-Year Barclays Transitions 12 PTP Participation Rate |
Point to Point
Biennial
|
80%
Participation
|
| 2-Year Barclays Transitions 6 PTP Participation Rate |
Point to Point
Biennial
|
160%
Participation
|
| 1-Year Barclays Transitions 12 PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
| 1-Year Barclays Transitions 6 PTP Participation Rate |
Point to Point
Annual
|
110%
Participation
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
165%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 12% | 12% | 11% | 11% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| NAC Charter Plus 14 Đ•nhanced bonus rider | No | 0.95% annually (0.00% after 14 years) |
Waivers
Nursing Home
Unavailable in states: MA
After the first contract anniversary, if the annuitant becomes confined to a qualified nursing care center (skilled nursing facility or residential care facility for the elderly in CA), as defined in the rider, up to 100% of the accumulation value is available each year while the annuitant is confined. If 100% of the accumulation value is taken, it will be considered a full surrender. The annuitant cannot be confined at the time the contract is issued. This rider is automatically included with the annuity at no additional charge. If joint annuitants are named on the annuity, the rider will apply to the first annuitant who qualifies for the benefit.
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