Money Access Liquidity options
Surrender Values and Charges The annuity’s Surrender Value will never be less than 87.5% of the premium received, less any withdrawals, accumulated at the minimum guaranteed interest rate. If a Partial Withdrawal above the Free Withdrawal or a Surrender is taken during the Surrender Charge period, a deduction will be taken out according to the Surrender Charge schedule.
Surrender Charge Schedule (Age 18-80)
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Contract Year
9.19876543210
Surrender Charge Percent
Free Withdrawals This is an opportunity each year (after the first contract year) to take Penalty Free Withdrawals up to 10% of the Contract Value. Market Value Adjustment (MVA) This product contains a Market Value Adjustment (MVA) Rider. An MVA may increase or decrease the amount of a withdrawal in excess of the Free Withdrawal amount or the Surrender value. The MVA does not apply to Free Withdrawals, any death benefit, the MGSV, or any distributions occurring after the Surrender Charge Period has ended. In general, as the MVA Index increases, Cash Surrender Values decrease. As the MVA Index decreases, Cash Surrender Values increase.
Waiver of Surrender Charge Riders Enhanced Benefit Rider
This no-fee rider is automatically included for owners age 75 and under and includes both a Qualified Nursing Care and Terminal Illness Benefit. Death Benefit Death Benefit proceeds are paid to the surviving joint owner. If there is no surviving joint owner, the death benefit is paid to the named beneficiary(ies) with no Surrender Charges, plus 100% Bonus Vesting. Generally paid as a lump-sum, other payment options are also available.
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