Premier Foundation Flex
The Premier Foundation Flex is a choice pick for secure post-retirement income. It shines in offering reliable returns, giving you the comfort of a guaranteed lifetime income that'll never deplete, no matter how long your golden years may run.
Its flexibility is the cherry on top, adjust according to your needs at any time. Premier Foundation Flex is a solid anchor for your retirement plans, setting you up for the enjoyable, worry-free retirement you deserve!
Premier Foundation Flex
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 5-Year Fixed Account |
Fixed
|
3.3%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5.85%
Cap
|
| 1-Year S&P Global Broad Market PTP Cap |
Point to Point
Annual
|
5.45%
Cap
|
| 5-Year Fixed Account |
Fixed
|
3.5%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.35%
Cap
|
| 1-Year S&P Global Broad Market PTP Cap |
Point to Point
Annual
|
5.95%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Guaranteed Growth Withdrawal Benefit Rider | No | 0.90% annually (2.00% max) |
| Inflation Security Withdrawal Benefit Rider | No | 1.05% annually (2.00% max) |
Waivers
Terminal Illness
Waiver of surrender charge on withdrawals after first contract anniversary if diagnosed with fatal injury or illness. Subject to state availability, contract must be issued prior to 75th birthday. Maximum amount of withdrawal under waiver $500,000 (per contract owner).
Disability
Waiver of surrender charge on withdrawals after first contract anniversary if disabled as defined in section 72 (m)(7) of the Internal Revenue Code. Subject to state availability, contract must be issued prior to 75th birthday. Maximum amount of withdrawal under waiver $500,000 (per contract owner).
Confinement
Waiver of surrender charge on withdrawals after first contract anniversary if confined to medical facility (prescribed by physician). Subject to state availability, contract must be issued prior to 75th birthday. Maximum amount of withdrawal under waiver $500,000 (per contract owner).
Premium Notes
- Minimum Initial Payment: $25,000
- Minimum Subsequent Payment: $1,000
- Subsequent payments allowed within the first 45 calendar days and must be listed on application.
- Maximum Payment: $5M cumulative limit across all annuity contracts
Withdrawal Provisions
Annual Free WithdrawalFree withdrawal up to 10% of contract value as of the latest anniversary without surrender charge (available starting the first day of second contract year)Partial withdrawalsMinimum withdrawal is the lesser of $500, RMD, and annual free withdrawal, if availableSystemic withdrawalsMonthlyQuarterlySemi-annuallyAnnually (minimum withdrawal $50)May elect if annual free withdrawal or living benefit withdrawal availableAnnuity OptionsLifeLife with Period CertainJoint and Survivor LifeCertain OnlyFull annuitization available after one contract year Payment FrequencyMonthlyQuarterlySemi-annuallyAnnuallyPartial AnnuitizationAnnuitize at least $5,000 up to 50% of contract value after 3rd contract yearMust wait 1 year before next partial annuitization electionNo more than 3 partial annuitizations allowed
- A.M. Best A+
- Fitch AA-
- S&P A+
- Moody's Aa3
- Comdex 93
