Premier Foundation Plus (High Premium)
Highlights
|
Type
|
Fixed Index |
|---|---|
| Purpose | Lifetime Income |
|
Premium Bonus
|
5% |
|
Term
|
10 Years |
|
Surrender schedule
|
8%8%7%6%5%4%3%2%1%1% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$1,000,000 |
|
Maximum contribution
|
$5,000,000 |
|
Max Age Qualified
|
85 |
|
Types of funds
|
Non-Qualified, IRA, IRA-Roth, Stretch IRA, and NQ Stretch |
Brochure
|
Open brochure |
Find out if the Premier Foundation Plus (High Premium) is the right product for you.
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
Free 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 withdrawals
Minimum withdrawal is the lesser of $500, RMD, and annual free withdrawal, if available
Systemic withdrawals
- Monthly
- Quarterly
- Semi-annually
- Annually (minimum withdrawal $50)
- May elect if annual free withdrawal or living benefit withdrawal available
- Life
- Life with Period Certain
- Joint and Survivor Life
- Certain Only
- Full annuitization available after one contract year
- Monthly
- Quarterly
- Semi-annually
- Annually
- Annuitize at least $5,000 up to 50% of contract value after 3rd contract year
- Must wait 1 year before next partial annuitization election
- No more than 3 partial annuitizations allowed
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 10-Year Fixed Account |
Fixed
|
3.7%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.25%
Cap
|
| 1-Year S&P Global Broad Market PTP Cap |
Point to Point
Annual
|
6.85%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Premier Foundation Plus Guaranteed Growth Withdrawal Benefit Rider | No | 0.90% annually (2.00% max) |
| Premier Foundation Plus 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).
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