Bonus Single Premium Annuity
The Bonus Single Premium Annuity is an ideal choice for those planning for future financial security. Its standout feature is its capacity to boost your retirement plan up a notch, all at no extra fees. This product caters to your desire for predictability in retirement, ensuring you have reliable income with free withdrawals in case of emergencies.
Enjoy a bonus on your initial premium, full protection of your principal during market fluctuations, and tax-deferred growth. More impressively, this annuity promises guaranteed income for life, with options to adapt your income streams as needed. To top it all off, you pay zero fees and your payments can help keep pace with inflation. Added benefits include penalty-free accessibility to your funds should you enter a nursing home.
Bonus Single Premium Annuity
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 10 | 4% | 3.37% | 4.4% |
Premium
Minimum premium $10,000
No additional premium accepted after issue.
Interest Rates
At issue, the current crediting interest rate will be set with the rate guaranteed for 1 year. Thereafter, on each anniversary, a new crediting rate will be set for the next year. This rate will not be less than the guaranteed minimum interest rate set at issue. This rate may be different from the interest rate for new issues of this contract at that time.
Death Benefit
Upon death of the annuitant, the account value will be paid.
Premium Bonus (Bonus requires a minimum deposit of $10,000.)
At issue, a bonus of 4 to 8% of the premium received will be credited to the account balance as interest.
Free Withdrawals
After the first year, one withdrawal per year of up to 10% of the account value may be taken without a surrender charge. For qualified annuities, any Required Minimum Distribution is not subject to surrender charges and is in addition to the once a year free withdrawal.
Annuitization Payment Options
- Fixed period of time
- For the life of the annuitant
- For the life of the annuitant and spouse
Riders
No Riders for Bonus Single Premium Annuity annuity.
Waivers
Nursing Home
Unavailable in states: MA, NJ, and PA
Amounts withdrawn to cover nursing home expenses for the annuitant are not subject to surrender charge. Available up to issue age 75. The nursing home waiver does not include home health care.
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