Index Select Annuity 7
Highlights
Type
|
Fixed Index |
---|---|
Purpose | Accumulation |
Term
|
7 Years |
Surrender schedule
|
9.4%8.5%7.5%6.5%5.5%4.5%3.5% |
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
08/02/2018 |
Minimum contribution
|
$15,000 |
Maximum contribution
|
$1,000,000 |
Max Age Qualified
|
90 |
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, Inherited IRA, and TSP |
Brochure
|
Open brochure |
Find out if the Index Select Annuity 7 is the right product for you.
Premium Notes
An additional premium may be paid for up to the first 90 days after the Contract Effective Date provided such premium is noted on the application.
All expected premium must be noted on application; premium will not be allocated to the index interest account and policy will not issue until all funds are received.
Initial Premium and Transfers
The premium may be transferred between the Interest Index Account and the Fixed Interest Account, receiving the interest rate cap and the interest rate in effect at the time the transfer is acted upon. A transfer must be elected prior to the end of the index term and will be transacted on the first day of the new index term.
Plan Type
To start or continue a qualifed retirement account, we allow the transfer or rollover of funds from qualifed plans such as an IRA, Roth IRA or 401(k) into a qualifed Individual Retirement Annuity. For non-qualifed funds, we allow for 1035 exchanges, direct transfers or lump sum payments to open a nonqualifed annuity.
- Inherited IRAs for spouses only
- TSA for existing TSA's
- TSP funds have to be rolled into an IRA.
Withdrawal Provisions
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
5%
Fixed
|
1-Year S&P 500 PTP Paticipation Rate |
Point to Point
Annual
|
63%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.75%
Cap
|
1-Year Fixed Account |
Fixed
|
5%
Fixed
|
1-Year S&P 500 PTP Paticipation Rate |
Point to Point
Annual
|
65%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
11%
Cap
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|
Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for Index Select Annuity 7 annuity.
Waivers
Death
After the death of an annuitant, the owner may elect a withdrawal within 180 days of the death without a surrender charge.
Nursing Home
After the first year, you can withdraw funds without a surrender charge if you are a resident in a nursing home for 30 or mom consecutive days. The nursing home waiver does not include home health care.
Terminal Illness
After the first year, 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.
Annuitization
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 payment option or a certain period of at least five years.
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