Teton Bonus 14 with Elevation Plus (CO Only)
The Teton Bonus 14 with Elevation Plus is a brilliant choice for all my fellow Colorado residents planning for a worry-free retirement. This product really stands out due to its high bonus rates and strong lifetime income potential.
After perusing the brochure, it's clear this annuity is designed with your future in mind. With effective death distribution benefits and contract value growth, you can rest assured you're making a sound investment towards a comfortable, financially robust retirement.
Teton Bonus 14 with Elevation Plus (CO Only)
About Product
Barclays Atlas 5 Boost/Spread - Spread decreases your interest rate. Your interest credit will never be less than zero.
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
Elevation Plus is an optional rider that can be added to Teton Bonus. Elevation or Elevation Plus can be added to Teton Bonus but not both.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Nasdaq Generations 5 Boost Spread |
Boost
Annual
|
2.25%
Spread
|
| 1-Year S&P 500 RavenPack AI PTP Boost Spread |
Boost
Annual
|
2.2%
Spread
|
| 1-Year Barclays Atlas 5 Boost Spread |
Boost
Annual
|
2.25%
Spread
|
| 1-Year Fixed Account |
Fixed
|
3.25%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.25%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
42%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
77%
Participation
|
| 1-Year Nasdaq Generations 5 PTP Participation Rate |
Point to Point
Annual
|
152%
Participation
|
| 1-Year S&P 500 RavenPack AI PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 1-Year Barclays Atlas 5 PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 1-Year S&P 500 Duo Swift PTP Participation Rate |
Point to Point
Annual
|
55%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 15% | 14% | 13% | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Elevation Plus Rider | Yes |
Waivers
Nursing Home
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
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
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.
Note: we take TSP as a rollover to IRA.
Withdrawal Provisions
Free withdrawalsIn the 1st Policy Year, Required Minimum Distributions can be withdrawn. After the 1st Policy Year, Up to 10% of the Account Value or RMD can be withdrawn. One non-systematic free withdrawal allowed per year.Cumulative Free Withdrawals If 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 50% of your account value (as of the most recent policy anniversary).
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