BreakThrough Annuity with Enhanced Death Benefit
BreakThrough Annuity with Enhanced Death Benefit
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Premiums
- Minimum Premium - $10,000 (Non-Qualified funds)
Maximum Premium - $1,000,000 (higher amounts will be considered and require company approval) - Revol One will accept additional premium payments up to the amount of your initial premium on the same contract during the first 30 days after issue
- No premiums are accepted on the same contract after this time period
Guaranteed rates
- Your fixed interest rate is guaranteed for the period you select: 3, 5, 7 or 10 years. Choose the interest guarantee period that fits into your personal financial plan.
- A core death benefit equal to the Cash Surrender Value (or Guaranteed Minimum Cash Surrender Value, if greater) is available to your beneficiary upon your death.
- If the Enhanced Death Benefit Rider is elected for a reduced guaranteed fixed interest rate, the death benefit is equal to the Accumulation Value (or Guaranteed Minimum Cash Surrender Value, if greater).
- Any beneficiary – not just spouses – may continue the contract upon death of the original Contract Owner.
- Your principal and interest earnings are protected, regardless of what happens to the markets.
- The BreakThrough Annuity Account has a unique tax structure. Interest is taxed annually as it is earned – similar to how a CD is taxed. Gains on withdrawals prior to age 59 ½ are not subject to the IRS 10% early withdrawal penalty.
If the Free Partial Surrender Rider is elected for a reduced guaranteed fixed interest rate, you can withdraw up to your interest earnings potential each year (based on your Accumulation Value at the start of the year multiplied by the guaranteed fixed rate).
Market Value Adjustment (MVA)
The BreakThrough Annuity comes with a MVA. The MVA applies only when the Surrender Charge applies. The MVA could increase or decrease the amount you receive from full or partial surrenders, depending on certain market interest rates.
- If certain interest rates decrease, the MVA will be positive. A positive MVA increases the withdrawal amount or Cash Surrender Value.
- If certain interest rates increase, the MVA will be negative. A negative MVA decreases the withdrawal amount or Cash Surrender Value.
- The Cash Surrender Value will never be less than the Guaranteed Minimum Cash Surrender Value.
- Life with 5-Years Period Certain
- Life with 10-Years Period Certain
- 5-Years Period Certain
- 10-Years Period Certain
- Annuitization Value applied to annuitization. The Annuitization Value before annuity payments begin equals the Accumulation Value less any Surrender Charges and taxes payable but not previously deducted.
Year by Year Account Balance
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Riders
No Riders for BreakThrough Annuity with Enhanced Death Benefit annuity.
Waivers
Death
Surrender Charges and MVA are waived upon payment of a Death Benefit.
Nursing Home
Included if the optional Enhanced Death Benefit Rider is elected. Surrender Charges and MVA will be waived if one of the following events occurs: 1. Contract Owner is confined to a nursing home for at least 90 consecutive days on or after the Issue Date. 2. 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. State variations may apply. Riders may not be available in all states.
Terminal Illness
Included if the optional Enhanced Death Benefit Rider is elected. Surrender Charges and MVA will be waived if the Contract Owner becomes terminally ill and is not expected to live more than 12 months. Riders may not be available in all states.
Surrender Window
There are no surrender charges during the first 30 days of each subsequent surrender charge period following renewal.
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