IncomeShield 10 Protect, boost and generate lifetime income with diverse allocation options.
10% Premium Bonus The IncomeShield 10 includes a 10% premium bonus to help jumpstart your retirement savings from the beginning. The bonus is applied to the contract value on the date received, and allocated into the same values as the premium and vests over time. Premium Allocations The initial premium payment can be allocated, in any combination, to either the fixed interest or any of the index strategies. Payments received after the initial premium automatically go into the fixed interest strategy. The contract values may be reallocated on the contract anniversary between strategies subject to these minimums: • The minimum allocation for each value is $1,000. • The minimum transfer to select a new value is 10% of the contract value. Premium Bonus Vesting The Premium Bonus vests over a 10-year period. Each year, after the first contract year, a percentage is vested until 100% vested — at the end of the 10th contract year.
The vested amount of the Premium Bonus is guaranteed and cannot be forfeited as a result of a Free Withdrawal. In the event of a Partial Withdrawal or Surrender, Premium Bonus payouts will be based on the vesting schedule.
Premium Bonus Vesting Schedule
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Vested Percent
Allocation Options Contract owners can allocate money using multiple interest crediting strategies:
Fixed Interest Strategy – The Fixed Interest Strategy Initial Interest Rate is set at issue and guaranteed for the Initial Interest Rate Guarantee Period, which will never be less than one year. The Fixed Interest Strategy will never earn less than the Minimum Guaranteed Interest Rate of 0.50%. Indexed Strategies – This annuity contract also offers indexed strategy options to which premiums may be directed. The indexed strategies utilize a formula linked to one or more published indices. The indexed strategies currently offered are: • Monthly Point to Point – On each contract anniversary, interest credits are calculated based on monthly changes in the index over a one year period. • Annual Point to Point – On each contract anniversary, the index price is compared to the previous year’s index price. • 2-Year Point to Point – On the contract anniversary at the end of a two-year term, the index price is compared to the term’s beginning index price.
Calculation Information Caps or Participation Rates are applied to Indexed Strategies as part of the interest credit calculation.
• Cap – Cap means the maximum rate that will be used in determining any interest credits to the strategy value. • Participation Rate (PR) – A PR means a percentage that determines how much of any gain in the index will be credited to the contract as interest.
In the event of death, 100% of the Premium Bonus is vested immediately and the beneficiary receives the entire Contract Value, including the Premium Bonus.
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