Bonus Single Premium Annuity
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Highlights
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Premium Type
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Single Premium
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|---|---|
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Max age Qualified
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90
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Minimum Contribution
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$10,000
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Maximum Contribution
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$500,000
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Market value adjustment
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Return of premium
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Free withdrawal
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10% |
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Types of funds
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Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, 1035 Exchange, and Inherited IRA |
Brochure
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Open brochure |
Single premium deferred annuity. Bonus determined by amount of premium.
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
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
Find out if the Bonus Single Premium Annuity is the right product for you.
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 10 | 3% | 3.4% | 3.4% |
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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