Power Index 5 NY
The Power Index 5 NY is a great tool to secure your financial future. It guarantees stable income, peace of mind, and the power to plan for your golden years.
With its easy-to-understand terms, this annuity shines as a reliable option for retirement planning. Add security to your life with Power Index 5 NY!
Power Index 5 NY
Ratings:
- A.M. Best A
- Fitch A+
- S&P A+
- Moody's A2
- Comdex 80
About Product
Minimum Accumulation Value (MAV)
This feature ensures growth of your premium at a minimum Guaranteed Growth Rate of at least 1%, adjusted for prior withdrawals and any applicable withdrawal charges. Power Index 5 NY locks in the greater of your contract value or the MAV on the 5th contract anniversary and every contract anniversary thereafter.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
6%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7%
Cap
|
| 1-Year Russell 2000 PTP Cap |
Point to Point
Annual
|
7%
Cap
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
7%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
4.75%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
5.75%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for Power Index 5 NY annuity.
Waivers
Nursing Home
Withdrawal charges may be waived if you are confined to a nursing home or an assisted living facility. Restrictions and limitations apply.
Terminal Illness
The owner must be diagnosed with a Terminal Illness after the contract issue date. Only one partial or full withdrawal is permitted.
Extended Care
The owner must receive Extended Care for at least 90 consecutive days, beginning after the second contract year. The Extended Care may not have begun until after the second Contract Year. The rider terminates when the owner turns age 86.
Premium Notes
- TSP funds have to be rolled into an IRA.
- We allow inherited IRA/NQ assets so long as it is being stretched and provided no GLB is elected. We will not write any inherited fixed business and we will not write new business on inherited assets subject to either the 5-year or the 10-year rule.
Withdrawal Provisions
After the first contract year, you are allowed to withdraw up to 10% of the contract value as of the preceding contract anniversary, without any withdrawal charges. You may not carry over the unused portion of the penalty-free withdrawal amount to the next contract year.
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