Teton 7 (Variation States)
The Teton 7 Annuity is a great choice for those who want a safe and secure financial future. With its easy-understand approach, it guarantees income for life, ensuring peace of mind during your golden years.
From the brochure, the highlight is its flexibility. You can choose how often you receive payments, and trigger cash benefits under specified circumstances. Definitely, a smart pick for a retiree's financial planning.
Teton 7 (Variation States)
About Product
- Guarantees
You can choose the certainty of a fixed interest rate that is annually declared and subject to minimum guarantees. Your annuity also has a Minimum Guaranteed Value. - Growth Potential
You also have the choice of interest based on the performance of an external market Index. - Protection of Principal
Your savings are always protected from market fluctuations and are 100% principal protected. There is no direct downside market risk to your funds. - Tax Deferral
Save more for retirement with tax deferred growth. The Teton Series allows you to keep more of your retirement savings working for you by deferring taxes until you choose to access the funds in your annuity. - Access to Funds
Multiple liquidity options are available to help you when life throws a curveball. After the withdrawal charge period, you can always access the full account value of your annuity. - Wealth Transfer
Leave a legacy for your loved ones and avoid probate. The full account value is available after your death. If your spouse is the beneficiary, then he or she can always choose to continue the policy.
The boost increases your interest credit.
Inherited IRAs:
Inherited IRAs will be allowed on Teton subject to the following conditions:
- Inherited IRAs are not accepted for a deceased who passed in 2020 or later.
- When the beneficiary is younger than the decedent, maximum issue age of 65.
- When the beneficiary is older than the decedent, the maximum age at death is 65.
- If the new SILAC IRA is Teton or Teton Bonus, additional premiums will not be accepted
- Distribution restrictions apply
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Barclays Atlas 5 Boost Spread |
Boost
Annual
|
3.25%
Spread
|
| 1-Year S&P 500 RavenPack AI PTP Boost Spread |
Boost
Annual
|
3.5%
Spread
|
| 1-Year Nasdaq Generations 5 Boost Spread |
Boost
Annual
|
3.25%
Spread
|
| 1-Year Fixed Account |
Fixed
|
4%
Fixed
|
| 1-Year Barclays Atlas 5 PTP Participation Rate |
Point to Point
Annual
|
180%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.75%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
47%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.5%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
92%
Participation
|
| 1-Year S&P 500 RavenPack AI PTP Participation Rate |
Point to Point
Annual
|
190%
Participation
|
| 1-Year Nasdaq Generations 5 PTP Participation Rate |
Point to Point
Annual
|
182%
Participation
|
| 1-Year S&P 500 Duo Swift PTP Participation Rate |
Point to Point
Annual
|
67%
Participation
|
| 1-Year Fixed Account (CA Only) |
Fixed
|
4%
Fixed
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 8% | 7% | 6% | 5% | 4% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Elevation Rider | No |
Waivers
Nursing Home
Unavailable in states: CA
Up to 100% of the Account Value can be withdrawn if the Owner is confined to a nursing home for at least 90 consecutive days and meets the eligibility requirement. Available after the 1st Policy Year.
Terminal Illness
Unavailable in states: CA
Up to 100% of the Account Value can be withdrawn if the Owner is diagnosed with a Terminal Illness that results in the Owner having a life expectancy of 12 months or less and eligibility requirements are met. Available after the 1st Policy Year.
ADL
Unavailable in states: CA
After the first policy year, you can withdraw up to 20% of your annuity's contract value each year for 5 years if you need home health care services and meet the eligibility requirements.
Premium Notes
- $10,000 Qualified and Non-Qualified
- Additional premiums allowed 1st 12 months. (Minimum Additional Premium: $2,000). Additional premiums accepted as both, Lump Sum or Periodic payments.
Withdrawal Provisions
Free withdrawalsIn the 1st Policy Year, Required Minimum Distributions can be withdrawn. After the 1st Policy Year, Up to 5% of the Account Value or RMD can be withdrawn. One non-systematic free withdrawal allowed per year.Cumulative Free WithdrawalsIf no withdrawals are taken in a given year, fully unused free withdrawals can be carried over to the next policy year. The maximum cumulative free withdrawal amount is 30% of your account value (as the most recent policy anniversary).
- A.M. Best B
- Comdex 32
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