EverGuard Assurance 10
EverGuard Assurance 10
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
1.75%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
3.25%
Cap
|
| 1-Year S&P 500 Engle 15% VT TCA ER PTP Cap |
Point to Point
Annual
|
4%
Cap
|
| 1-Year Invesco BofA QQQ Balanced FC PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
| 1-Year Goldman Sachs Enhanced Multi-Asset PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| GLWB Option 1: Early Path Rider | Yes | 0.85% annually |
| GLWB Option 2: Future Path Rider | Yes | 0.85% annually |
Waivers
Death
The Death Benefit is free of Withdrawal Charges or MVA.
Hospital
Eligibility begins after the first Contract Anniversary for Owner or Joint Owner. Contract Owner must be confined to a qualified Nursing Home or Hospital for 90 consecutive days starting after the Contract Issue Date.
Nursing Home
Eligibility begins after the first Contract Anniversary for Owner or Joint Owner. Contract Owner must be confined to a qualified Nursing Home or Hospital for 90 consecutive days starting after the Contract Issue Date.
Terminal Illness
Eligibility begins after the first Contract Anniversary for Owner or Joint Owner. Diagnosis must have occurred after the Contract Issue Date. Diagnosis must be made by a certified physician that death will occur in 12 months or less following the physician's statement.
RMD
Required Minimum Distributions (RMDs) may be taken without Withdrawal Charges or Market Value Adjustment (MVA) beginning in the first Contract Year. In subsequent years, RMDs are considered part of the allowed Free Withdrawal Amount. After Lifetime Income Payments begin, RMDs are not considered excess withdrawals under the Guaranteed Lifetime Withdrawal Benefit (GLWB) rider.
Premium Notes
- Qualified: IRAs and Roth IRAs are accepted. Owner and Annuitant must be the same individual.
- Non-qualified: Non-qualified and Non-natural ownership are accepted. Joint Owners must be spouses
Withdrawal Provisions
Free Withdrawal Amount Ten percent (10%) of the Contract Value is available annually as a Free Withdrawal Amount after the first Contract Anniversary. The Free Withdrawal Amount is based on the Contract Value at the beginning of the most recent Contract Year. Systematic withdrawals are available based on a specified percentage or dollar amount on a monthly, quarterly, annual or semiannual basis. Market Value Adjustment (MVA) MVA may apply to any withdrawals in excess of the Free Withdrawal Amount allowed. The MVA is applied after Withdrawal Charges are deducted. The MVA may increase or decrease the amount of the withdrawal or the Surrender Value of your contract, depending on the change in the reference rate index yields. Generally, if market interest rates are higher than when you purchased your annuity, the MVA will be negative. If interest rates are lower, the MVA will be positive. If the blended reference rate yields have not changed by more than 0.25%, no MVA will apply.
- A.M. Best A-
- Fitch A-
- S&P BBB+
- Moody's Baa1
- Comdex 57
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