Questions & Answers What is a market value adjustment (MVA) and when does it apply to me? When you take a withdrawal in excess of any free amount during the withdrawal charge period, the amount you receive may be increased or decreased by a market value adjustment (MVA). If the market index interest rates are higher than when you purchased the annuity, the MVA amount will be negative, decreasing your withdrawal amount and/or annuity balance. If market index interest rates are lower than when you purchased the annuity, the MVA is positive, increasing your withdrawal amount and/or annuity balance. The MVA does not impact Annuitizations or the Minimum Guaranteed Surrender Value. What options do I have to withdraw my money without fees? You have the option to take up to 10% of your Contract Value as a free withdrawal each year after the first contract anniversary. At the end of your surrender charge term, you also have the option to withdraw up to 100% of the Contract Value. Rest assured that all required minimum distributions (RMD) withdrawn at least thirty days after the contract has been issued will not be subject to any penalties. Worried about being locked in if rates fall? You have the option of withdrawing your Contract Value if the S&P 500® annual point-to-point cap renewal rate falls below the stated bailout cap rate at contract issue. What if I need to make a withdrawal above the 10% free withdrawal amount? In addition to possible MVA adjustments, withdrawing more than your free withdrawal amount may also result in early withdrawal charges. Each surrender charge period has its own early withdrawal charge schedule, which decreases over time, so you can know how much you are able to withdraw and how that will affect your contract. 15 Important to note: You always have access to 100% of your contract value, free of withdrawal charges and MVA, after the initial surrender charge period.
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10-Year Plan
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What options do I have if I am confined to a nursing home? You can withdraw up to 100% of your annuity’s contract value if you are confined to an eligible Nursing Home. This benefit is available if you are confined for at least 90 consecutive days any time after your first contract anniversary and meet eligibility requirements. No withdrawal charge or MVA will be applied if you qualify for this benefit. To receive the Nursing Home Waiver, you cannot be confined at the time your contract is issued and confinement must begin at least one year after the contract effective date. Please note, this is considered an excess income withdrawal and will reduce future income payments.
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