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Flex 5
Flex 5
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 5.35% | 3.07% | 5.35% |
Minimum Deposit
$2,000 – Maximum $300,000 (Q/NQ)
Additional deposits are accepted through the life of the policy.
Home office approval is required for amounts over the maximum deposit shown.
Issue Age
18-85
Access to Funds
A 10% penalty-free withdrawal is available each contract year. Distributions above the penalty-free amount during the surrender period are subject to a surrender charge. There are no surrender penalties after the initial term.
Death Benefit
The death benefit is the full account value.
Penalty-Free Withdrawals
- Interest Withdrawal available after only 30 days, Penalty-Free
- 10% Annual Withdrawal – up to 10% of the cash value each year (contractual)
- RMD – Required Minimum Distributions for qualified plans are always Penalty-Free
- Death Benefit – if the annuitant passes away, Penalty-Free
- Annuitization – if converted to an income stream equal to the original issued annuity term, Penalty-Free
- No Penalty Reset – Flex Annuities added new money does not restart the surrender charge period
- Western Catholic Union is a fraternal benefit society.
- WCU honors a 45-day rate lock - must receive funds from transferring company within 45 days of receipt of app.
- All plans include a Living Benefit Rider
Riders
No Riders for Flex 5 annuity.
Waivers
Bail-Out
Unemployment: Up to 50% coverage, Penalty-Free. This benefit applies only in the second year of the certificate and beyond, with each eligible event limited to one occurrence. Available for those aged 64 and younger.
Death
Contact us to get more information about this waiver.
Nursing Home
Nursing Home: Up to 50% coverage, Penalty-Free. This benefit applies only in the second year of the certificate and beyond, with each eligible event limited to one occurrence. Available only for issue ages 80 and under.
Terminal Illness
Heart Attack: Up to 25% coverage, Penalty-Free. Cancer Diagnosis: Up to 25% coverage, Penalty-Free. These benefits apply only in the second year of the certificate and beyond, with each eligible event limited to one occurrence.
Unemployment
Unemployment: Up to 50% coverage, Penalty-Free. This benefit applies only in the second year of the certificate and beyond, with each eligible event limited to one occurrence. Available for those aged 64 and younger.
Annuitization
Contact us to get more information about this waiver.
RMD
The Required Minimum Distributions for qualified plans are always Penalty-Free.
- A.M. Best -
