Flexible Premium Deferred Annuity
Highlights
Premium Type
|
Flexible Premium
|
---|---|
Max age Qualified
|
85
|
Minimum Contribution
|
$500
|
Maximum Contribution
|
$500,000
|
Market value adjustment
|
|
Return of premium
|
|
Free withdrawal
|
10% |
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, IRA Rollover, IRA Transfer, IRA-Roth, 457 plan, and TSP |
Brochure
|
Open brochure |
Issue Age
0 - 85 (Traditional IRAs: 18-69, only rollover amounts can be accepted at issue ages 70 and above. ROTH IRAs: 18-85)
Minimum Contribution
$500 initial deposit or $25 per month Ages 0 – 24
$1,000 initial deposit or $50 per month Ages 25 - 49
$1,000 initial deposit or $100 per month Ages 50 and above
Additional Payments could be accepted as a Lump Sum or periodic payments.
Maximum Contribution
$500,000
Withdrawals
After the first certificate year, up to 10% of the accumulated value of the certificate in any one certificate year can be withdrawn without charge. Withdrawal charges are a percentage of the partial withdrawal and are the same percentage as the surrender charge. Withdrawal charges are imposed during the first ten certificate years only.
Principal guarantee
Cash surrender value will not be less than the total amount of premium paid minus previous withdrawals.
Security
A wide variety of attractive retirement income options, including payments for life or a specific number of years.
Notes
From TSP, P/S, 457 Def Comp, may have to identify pre tax funds and after tax to set up an IRA account and / or NQ account.
Fraternal Benefits Available to Social & Benefit Members
Woman’s Life Member Discount Program
Life Line Screening
Accidental Death Fraternal Benefit
Local Chapter Involvement
Good Health Benefits
Woman’s Leadership Development Grant
Scholarship Opportunity
Find out if the Flexible Premium Deferred Annuity is the right product for you.
Traditional Fixed Annuity Interest Rates
Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
---|---|---|---|
10 | 5% | 3.2% | 3.2% |
Riders
No Riders for Flexible Premium Deferred Annuity annuity.
Waivers
Nursing Home
Unavailable in states: NJ, NY, OR, and PA
Surrender and withdrawal charges are waived for confinement to a nursing home of a member or spouse for more than 30 days duration.
Terminal Illness
Unavailable in states: NJ, and NY
Surrender and withdrawal charges are waived for terminal illness with less than 12 months life expectancy of the member or spouse.
Annuitization
After the first certificate year, surrender and withdrawal charges are waived for annuitization to a life income option.
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