Features
15% PREMIUM BONUS WITH THE OPTIONAL INCOME RIDER
When you purchase your Summit Bonus Index SM Annuity (ICC17-SSLIANPOL-OT, SSLIANPOL-XX), you will receive an automatic, one-time 7% Premium Bonus 3 that is immediately credited to your Accumulation Account. This gives you an opportunity to earn additional interest and funds that you can access subject to your vesting and surrender schedule. If the Income Rider is purchased, this one-time bonus is increased to 15% of the single premium payment and will be credited to both the Accumulation Account and the Income Account.
Policy Year
1 2 3 4
5
6
7 8
9
10
11+
Vesting
0% 0% 0% 0% 0% 10% 20% 40% 60% 80% 100%
ACCESSIBILITY
The Summit Bonus Index SM Annuity offers several options to access your money without being subject to surrender charges or market value adjustments. For example: • During the first policy year, you can withdraw the interest earned on funds allocated to the fixed account or up to a Required Minimum Distribution. • After the first policy year, you can withdraw up to 10% of your contract value or Required Minimum Distribution, whichever is greater. • An Early Payout Option is available after the fifth policy year and you can apply the vested value of the policy to purchase one of the settlement options. • During the Owner’s lifetime and before annuity payments commence, you may surrender this policy for its Cash Surrender Value. Surrender Charges and a Market Value Adjustment may apply.
DEATH BENEFIT
WITHDRAWAL CONSIDERATIONS
The amount payable if the Owner, or the Annuitant if the Owner is not a Natural Person, dies before annuity payments begin is equal to the Accumulation Value less the Non-vested Premium Bonus or the Minimum Guaranteed Surrender Value determined as of the date of death, whichever is greater.
You can take up to two withdrawals in a policy year as long as your accumulation value does not go below $2,500. Withdrawals must be at least $250. Withdrawals other than as listed to the left are subject to applicable surrender charges, premium bonus vesting schedule, and Market Value Adjustments. Withdrawals may also be subject to taxes and penalties.
SURRENDER CHARGES
If you surrender your policy or request withdrawals above a certain amount, there may be surrender charges. Please discuss the surrender charge schedule with your agent.
Policy Year 11+ Issue Age 0-57 12% 11% 10% 9% 8% 7% 6% 5% 4% 2% 0% Issue Age 58+ 9.5% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 1 2 3 4 5 6 7 8 9 10
3 Please refer to the website product availability map or contact your agent for more details. Annuities and optional riders are not available in all states.
2
SSLSBIBR-OT 080123
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