Teton Bonus 7 (Most States)
Teton Bonus 7 (Most States)
Ratings:
- A.M. Best B
- Comdex 35
About Product
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
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
|
2.5%
Spread
|
1-Year Nasdaq Generations 5 Boost Spread |
Boost
Annual
|
2.25%
Spread
|
1-Year Fixed Account |
Fixed
|
3%
Fixed
|
1-Year S&P 500 PTP Monthly Average Participation Rate |
Point to Point
Annual
Monthly average
|
75%
Participation
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.15%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
42%
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
|
150%
Participation
|
1-Year S&P 500 RavenPack AI PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
1-Year Nasdaq Generations 5 PTP Participation Rate |
Point to Point
Annual
|
155%
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 | 12% | 12% | 11% | 10% | 9% | 7% | 4% |
Riders
Name | Inbuilt | Fee |
---|---|---|
Elevation Rider | No |
Waivers
Nursing Home
Unavailable in states: SD
Up to 100% of the Account Value can be withdrawn if the Owner is confined to a nursing home for at least 90 consecutive days and meets the eligibility requirement.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Up to 100% of the Account Value can be withdrawn if the Owner is diagnosed with a Terminal Illness that results in the Owner having a life expectancy of 12 months or less and eligibility requirements are met.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
Unavailable in states: SD
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
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).