Enhanced Choice Index 5
Highlights
ECI-5 and ECI-7 provide multi-year guaranteed participation rates on some index crediting options: S&P MARC 5% ER, S&P 500 Daily RC 5% ER, and S&P 500 ESG Daily RC 5% ER.
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
5 Years |
|
Surrender schedule
|
8%7%6%5%4% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
04/01/2022 |
|
Minimum contribution
|
$15,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
93 |
|
Types of funds
|
Non-Qualified, 401k, IRA, Pension, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and 1035 Exchange |
Brochure
|
Open brochure |
Find out if the Enhanced Choice Index 5 is the right product for you.
Premium Notes
- ECI 5: Owner 18-93, Annuitant 0-93 (The purchase of an annuity for those age 91-93 must be for transfer-of-wealth or estate-planning purposes)
- ECI 7: Owner 18-90, Annuitant 0-90
- ECI 10: Owner 18-80, Annuitant 0-80
$15,000 to $1,000,000 initial premium (greater amounts may be accepted if pre-approved by The Standard before you submit an application)
Withdrawal Provisions
You can withdraw up to 10% of the annuity fund value per year without a surrender charge. Applies after the first contract year.
Surrender charges and MVA are waived for IRS Required Minimum Distributions (RMDs).
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.5%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
53%
Participation
|
| 1-Year S&P 500 PTP Enhanced Participation Rate |
Point to Point
Annual
|
68%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
180%
Participation
|
| 1-Year S&P MARC 5% ER PTP Enhanced Participation Rate Guaranteed for Term |
Point to Point
Annual
|
235%
Participation
|
| 1-Year S&P 500 DRC 5% ER PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
180%
Participation
|
| 1-Year S&P 500 DRC 5% ER PTP Enhanced Participation Rate Guaranteed for Term |
Point to Point
Annual
|
235%
Participation
|
| 1-Year S&P 500 ESG DRC 5% ER PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
180%
Participation
|
| 1-Year S&P 500 ESG DRC 5% ER PTP Enhanced Participation Rate Guaranteed for Term |
Point to Point
Annual
|
235%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for Enhanced Choice Index 5 annuity.
Waivers
Death
Death benefit payments are available without a surrender charge. After the death of an annuitant, the owner may elect a withdrawal within 180 days of the death and surrender charges will be waived. Partial Index Crediting is available with Death surrender-charge-free withdrawals.
Nursing Home
You can withdraw funds without a surrender charge if you are a resident in a nursing home for 30 or more consecutive days. Applies after the first contract year. Partial Index Crediting is available with Nursing Home surrender-charge-free withdrawals. The nursing home waiver does not include home health care.
Terminal Illness
You can withdraw funds without a surrender charge if you are diagnosed with a terminal condition with a life expectancy of 12 months or less. Applies after the first contract year. Partial Index Crediting is available with Terminal Illness surrender-charge-free withdrawals.
Annuitization
Annuitization is the process of changing from accumulating savings to generating a guaranteed income stream. You may convert your deferred annuity to a payment stream with The Standard at any time without a surrender charge. You must choose either a lifetime income payment option or a certain period of at least five years. Partial Index Crediting is available with Annuitization surrender-charge-free withdrawals.
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