Teton Bonus 7 (CA Only)
The Teton Bonus 7 is a gem for California retirees! It's like a safety net, designed to grow your hard-earned nest egg – plus, you get an inviting 7% upfront bonus! This is a sweet deal that's hard to ignore in any retirement planning.
Your golden years should be worry-free and the Teton Bonus 7 intends to make it so. You'll appreciate its predictable and secure income, just like clockwork! It's the peace of mind you well deserve. A sunshiny California retirement awaits with the Teton Bonus 7!
Teton Bonus 7 (CA Only)
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Ratings:
- A.M. Best B
- Comdex 35
About Product
Type
Fixed Index
Purpose
Accumulation
Premium Bonus
9%
Term
7 Years
Surrender schedule
8.1%7.2%6.35%5.35%4.6%3.7%2.75%
Fee withdrawal:
5%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
90
Types Of Funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, Inherited IRA, and TSP
Launch Date
05/01/2019
The Teton Bonus series allows you to add an additional premium for the first policy year. Premium bonuses will also apply to all premiums. All additional premiums will automatically be applied to the fixed interest strategy and can be reallocated at the end of the first year.
Barclays Atlas 5 Spread/Boost - 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:
Barclays Atlas 5 Spread/Boost - 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
Available in states:
CA
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Barclays Atlas 5 Boost Spread |
Boost
Annual
|
2.25%
Spread
|
1-Year S&P 500 RavenPack AI PTP Boost Spread |
Boost
Annual
|
2.75%
Spread
|
1-Year Nasdaq Generations 5 Boost Spread |
Boost
Annual
|
2.5%
Spread
|
1-Year Fixed Account |
Fixed
|
3%
Fixed
|
1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
70%
Participation
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.25%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
40%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.5%
Cap
|
1-Year Barclays Atlas 5 PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
1-Year S&P 500 RavenPack AI PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
1-Year Nasdaq Generations 5 PTP Participation Rate |
Point to Point
Annual
|
157%
Participation
|
1-Year S&P 500 Duo Swift PTP Participation Rate |
Point to Point
Annual
|
57%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|
Penalty | 8% | 7% | 6% | 5% | 5% | 4% | 3% |
Riders
Name | Inbuilt | Fee |
---|---|---|
Elevation Rider | No |
Waivers
No Waivers for Teton Bonus 7 (CA Only) annuity.
Premium Notes
Minimum Premium
- $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.
The Teton Bonus series allows you to add an additional premium for the first policy year. All additional premiums will automatically be applied to the fixed interest strategy and can be reallocated at the end of the first year.
Note: we take TSP as a rollover to IRA.
Withdrawal Provisions
Free withdrawals
In 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 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 30% of your account value (as of the most recent policy anniversary).
In 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 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 30% of your account value (as of the most recent policy anniversary).