Features for added peace of mind
Free Withdrawals Beginning in the first Contract Year, you can withdraw up to the greater of 10% of your premium or your annuity’s Accumulated Value each Contract Year without a Withdrawal Charge or Market Value Adjustment (MVA). 1 Required Minimum Distributions (RMDs) are IRS mandatory withdrawals required with qualified contracts (such as an IRA). 2 These withdrawals from your annuity contract are considered part of your annual Free Withdrawal amount. Confinement Waiver You can withdraw all or part of your annuity’s value if you are confined to a Qualified Care Facility. This benefit is available if you are confined for at least 60 consecutive days and meet eligibility requirements. No Withdrawal Charge or MVA applies if you qualify for this benefit. In order to qualify for this benefit, you cannot be confined at the time your contract is issued. Withdrawals are available one year after the Contract Date. 3
Terminal Illness Waiver You can withdraw all or part of your annuity's value if you are diagnosed with a terminal illness that is expected to result in death within one year and meet eligibility requirements. No Withdrawal Charge or MVA applies if you qualify for this benefit.
Withdrawals are available one year after the Contract Date. 3
Death Benefit Your annuity can offer your loved ones a source of funds to settle matters after your death. Your beneficiary is guaranteed your annuity's full Interim Value 4 or Minimum Guaranteed Contract Value, whichever is greater. 5 If requesting either the Confinement or Terminal Illness Waiver, you’ll be eligible for the greater of the Minimum Guaranteed Contract Value and either a) the Interim Value, 4 if requesting a full surrender, or b) the Accumulated Value, if requesting a partial Withdrawal.
1 Withdrawals and surrender may be subject to federal and state income tax and, except under certain circumstances, will be subject to an IRS penalty if taken prior to age 591/2. Withdrawals are not credited with index interest in the year they are taken. Withdrawals in excess of the free amount are subject to a Withdrawal Charge or MVA which may result in the loss of principal if taken during the first 7 years of the contract. 2 The IRS requires individuals owning IRAs to take a required minimum distribution (RMD) each year once you reach a certain age, which varies by birthdate. The annual deadline for taking an RMD is December 31. You may delay your first RMD until April 1 of the year after you attain the required beginning age. If you delay your first RMD, you'll have to take your first and second RMD in the same tax year. If you fail to take your RMD, you may be subject to an excise tax. Please consult with your tax professional for guidelines specific to your situation. Visit IRS.gov for details. 3 Additional limitations, variations and exclusions may apply. Please see the Certificate of Disclosure for more information on these features. This benefit is NOT long-term care insurance nor is it a substitute for such coverage. Not available in CA. 4 Interim Value reflects the pro-rated cumulative performance during the current Index Term Period, subject to the terms of the applicable Strategy. Indexed Strategy interest credits are not applied to the Strategy Value until the Index Term End Date. The Interim Value is used only to determine the Death Benefit, and is not available for Withdrawal or Surrender, except through qualifying claims under the Confinement and Terminal Illness Waivers, if applicable. 5 If death occurs, annuitization payments will be consistent with the Settlement Option selected. Taxes may apply.
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