Multi-Choice Annuity (7-Year) with 10% Withdrawal Provision
The Multi-Choice Annuity (7-Year) offers a blend of safety, growth, and flexibility. It is designed for long-term savers who want to enjoy the benefits of tax-deferred growth and protection. This is an annuity option that allows you to build savings now and expect payments in the future. Its critical and unique advantage is the "triple-compounding" interest on your initial premium payment, the interest itself, and tax savings.
Being versatile, this annuity offers several withdrawal options to cater to your financial needs, including regularly scheduled payments of interest earned and 10% annual withdrawals. It also provides a guaranteed rate for periods of 3, 5, or 7 years, while allowing you to withdraw your money at the end of the term, or automatically start a new guaranteed-rate period. Overall, Multi-Choice Annuity provides a comprehensive blend of safety, growth, and flexibility, making it an excellent addition to any retirement strategy.
Multi-Choice Annuity (7-Year) with 10% Withdrawal Provision
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 7 years | 4.35% |
Issue Age Maximum issue age may vary by distributor
Issue to age 90
Premiums
$15,000 – $1,000,000
Time to Reflect on the Purchase
You may cancel and return your contract within 30 days after it is delivered to you. We will refund your premium after a cancellation, minus any withdrawals you’ve taken.
Required Minimum Distributions
You can schedule IRS required minimum distributions for tax-qualified plans without a surrender charge.
Market Value Adjustment
A market value adjustment applies to withdrawals or surrenders that are subject to a surrender charge. We base the adjustment on a formula that takes into account changes in the MVA Index at that time. We will waive the MVA when the surrender charge is waived. The MVA can increase or decrease the surrender value of the annuity. Generally, if interest rates have risen since the beginning of the current surrender-charge period, the MVA will decrease the surrender value. If interest rates have fallen, the MVA will generally increase the surrender value.
Death Benefits
Death benefit payments are available without a surrender charge.
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.
Choice of Withdrawal Options
The unique feature of the Multi-Choice Annuity allows you to select an optional withdrawal provision that best meets your financial needs.
- No optional withdrawal provision
- Interest-only withdrawal after 30 days
- 10% annual withdrawal provision applies after the first contract year.
After the first year, you can withdraw up to 10% of the annuity fund value per year without a surrender charge. - 10% annual withdrawals and Guarantee of Principal (GOP) applies after the first contract year.
- Life income
- Life income with a certain period
- Joint and survivor life income
- Joint and survivor life income with a certain period
- Joint and contingent survivor life income
- Certain period
- Lump-sum Other options may be available.
Inherited IRAs for spouses only
Note: TSP funds have to be rolled into an IRA.
Riders
No Riders for Multi-Choice Annuity (7-Year) with 10% Withdrawal Provision annuity.
Waivers
Nursing Home
Unavailable in states: MA
After the first year, you can withdraw funds without a surrender charge if you are a resident in a nursing home for 30 or more 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
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.
Surrender Window
There is a 30 day renewal window with repeating guarantee periods. During the first 30 days of each subsequent term, all or part of the funds may be withdrawn without a surrender charge or market value adjustment.
- A.M. Best A
- S&P A+
- Moody's A1
- Comdex 82
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