A quick product overview
Can I lose money?
Lifetime income
• Because you’re not actually invested in the market, you will never lose money due to market declines. • You can surrender your contract at any time and receive the current value, subject to an MVA and surrender charge, and minus any previous charges or withdrawals. • If you die, your beneficiaries will receive any remaining money per your contract.
Principal protection
I don’t want any surprises. What else should I know?
Growth potential
• You have a “free-look period,” which means you can cancel your contract and receive a full refund within 30 days of the contract receipt. • Caps and fixed interest rates are reset annually, so they may vary from year to year. • There is an annual charge for the withdrawal benefit. The fee is a percentage of the money in your annuity and will not change for the life of your contract. • You can cancel the withdrawal benefit after five years. If you do, the benefits it provides go away for good and charges will not be refunded. • There may be years where you earn no interest if the index you choose doesn’t increase or it declines. • Federal income taxes may apply to withdrawals. There could be an additional federal tax of 10% if you take money out and you’re younger than age 59½. You should consult with an attorney or tax professional before taking any withdrawals.
Tax deferral
Built for the long-term Fixed indexed annuities (FIAs) are built to be long-term insurance products. A FIA with a withdrawal benefit is meant for people who want guaranteed income in retirement.
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