Enduris 10 Income FIA
Enduris 10 Income FIA
About Product
The Enduris 10 Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider is designed to help you enjoy retirement on your terms—with guaranteed income that lasts a lifetime. It offers the confidence of knowing that no matter how long you live, your income will be there, giving you the freedom to focus on the people, passions and experiences that matter to you.
- The Enhanced Participation (EPAR) Indexed Interest Options offer additional upside growth potential.
The EPAR Indexed Interest Options offer you the chance to capture a greater percentage of growth if the S&P 500 Index performs well during the option period.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.75%
Fixed
|
| 1-Year S&P 500 PTP Enhanced Participation Rate (EPAR) |
Threshold Part Rate
Annual
|
10%
Participation
|
| 2-Year S&P 500 PTP Enhanced Participation Rate (EPAR) |
Threshold Part Rate
Biennial
|
10%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5%
Cap
|
| 2-Year S&P 500 PTP Cap |
Point to Point
Biennial
|
10%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
30%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
35%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Enduris 10 Income GLWB Rider | Yes | 1.25% annually |
Waivers
Death
Surrender Charges do not apply to the death benefits paid. The Death Benefit will not be reduced by any negative MVA. Any positive MVA will be added to the Death Benefit.
Nursing Home
Surrender Charges and MVA will be waived if one of the following events occurs: 1. The Contract Owner becomes confined to a nursing home for at least 90 consecutive days on or after the Contract Date; 2. The Contract Owner is confined for a total of at least 90 days if there is no more than a 6-month break in the confinement and the confinements are for related causes.
Terminal Illness
Surrender Charges and MVA will be waived if the Contract Owner becomes terminally ill or injured in such a way that they are not expected to live more than 12 months.
Annuitization
Your Contract may be annuitized without Surrender Charge or MVA at any time after the third contract year, provided that a life contingent or period certain of 10 years is elected.
Premium Notes
You can purchase an Enduris Income FIA with a single minimum premium of $50,000 for both qualified and non-qualified funds.
Issue Ages
18 - 80 (Qualified and Non-Qualified funds)
Free Look Period
30 days
Withdrawal Provisions
Market Value Adjustment (MVA) The Enduris 10 Income FIA comes with a Market Value Adjustment. The MVA applies only when the Surrender Charge applies. The MVA could increase or decrease the amount you receive from Surrender or a withdrawal in excess of the free amount, depending on certain market interest rates. MVAs do not apply to guaranteed lifetime income withdrawals. (Please review your contract for complete details.) MVAs do not apply to guaranteed lifetime income withdrawals. Free Partial Withdrawals 10% of the Account Value may be withdrawn each contract year, after the first Contract Year, without incurring Surrender Charges or MVA. Partial withdrawals (including RMDs) taken before income election will reduce the Benefit Base in proportion with the reduction of the Accumulation Value. RMDs The Contract Owner can access required IRS Required Minimum Distributions without incurring a Surrender Charge.
- A.M. Best B++
