Premier Foundation Plus (Low Premium)
The Premier Foundation Plus (Low Premium) Annuity is a real gem, perfect if you're thinking of a cost-efficient retirement plan. It's like a trusty sidekick that guarantees you a steady income stream for life.
Also, it's straightforward with no hidden fees, and it promises reliability and consistency. In other words, with Premier Foundation Plus, you simply can't go wrong with your future planning!
Premier Foundation Plus (Low Premium)
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 10-Year Fixed Account |
Fixed
|
3.4%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 1-Year S&P Global Broad Market PTP Cap |
Point to Point
Annual
|
5.6%
Cap
|
| 10-Year Fixed Account |
Fixed
|
3.6%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.5%
Cap
|
| 1-Year S&P Global Broad Market PTP Cap |
Point to Point
Annual
|
6.1%
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).
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
