Additional income for the unpredictable
How do you continue to receive guaranteed income for life? When you start receiving income, lifetime income payments come from the contract value, not the Withdrawal Base. As long as you don’t take excess withdrawals, your income never goes down due to lifetime income payments, and may potentially go up, for as long as you (and your spouse too, if joint income is selected) live, even if your contract value is depleted.
The Income Enhancement Benefit ,1,2 , will double your guaranteed lifetime income for up to five years should you or your spouse face a qualifying healthcare need 3 – included at no additional cost. Here are the details:
• The Income Enhancement Benefit is a benefit for both single and joint lifetime income.
• You must be 75 or younger at the time of the ForeIncome FIA purchase.
• The benefit may only be elected after guaranteed income has been activated. 3,4
• You must be certified by a licensed healthcare practitioner as being unable to perform at least two of the six Activities of Daily Living (ADLs) to be eligible for the Income Enhancement Benefit. 5 • Once the benefit period ends, you return to receiving the original guaranteed income amount for the rest of your life. 6
Here’s how:
When you begin receiving income…
Withdrawal Base
Contract Value
Your income is based on the size of your Withdrawal Base (which never goes down due to lifetime income payments and may potentially even go up 1 ).
Your income comes from your contract value. But even when depleted, you’ll still get lifetime income.
$31,720
$15,860 2 Years x $31,720
$15,860
$15, 860
What are the two Withdrawal Base growth options?
While your spouse recovers over the course of the next five years, you receive $158,600 in total. That is an extra $79,300 that may be used to help afford your spouse’s unforeseen healthcare expenses. At the end of the Income Enhancement Benefit period, you both return to receiving your annual income payments of $15,860 for the rest of your lives. 6
You and your spouse visit your licensed healthcare practitioner, where they certify that your spouse is unable to perform at least two of the six ADLs. Knowing there will likely be new healthcare expenses, you decide to activate the Income Enhancement Benefit 3 at no extra cost, providing you with $31,720 each year for up to five years. 5
Initially, your Withdrawal Base amount is the same as your contract value. But over time, your Withdrawal Base may grow through one of two growth options 1,2 :
The Income Multiplier Benefit
The Guaranteed Income Builder Benefit
Six Activities of Daily Living (ADLs) • Bathing • Eating • Continence • Dressing
Builds your Withdrawal Base with steady 12% annual growth for up to ten years or until income activation, whichever is earlier.
• Transferring • Toileting
Adds 2X any interest credits your contract value earns to your Withdrawal Base before income starts and 1X after.
OR
1 State variations apply. The Rider is not long-term care insurance and is not intended to replace such coverage. It is referred to as the Annual Payment Accelerator Rider in the contract. 2 The benefit is available only if your contract value is above the minimum allowed under the Income Enhancement Benefit. 3 The contract value must exceed the greater of a) the Minimum Contract Value; and b) the doubled Lifetime Annual Payment (LAP) at the time of activation and on each Contract Anniversary in order to exercise/continue the benefit or else it will be terminated. 4 There is a one-year waiting period and a 90-day elimination period prior to receiving benefits. 5 Recertification by a healthcare professional is required prior to years three, four, and five, if applicable. 6 Once the Income Enhancement Benefit period ends, a new benefit period is no longer available. The Income Enhancement Benefit may be used only one time per contract. Guarantees are based on the claims-paying ability of Forethought Life Insurance Company and assume compliance with the product’s benefit rules, as applicable.
1 If the optional Income Multiplier Benefit is selected. 2 The income benefit is included on date of issue for an annual charge of 1.05% of the Withdrawal Base at the end of each contract year. The Withdrawal Base is a separate numerical value used to help determine the amount of future income. It is not available for cash surrender or as a death benefit. 3 Under either options 1 or 2, the Withdrawal Base at issue equals your premium payment. It is important to note that the Withdrawal Base is separate from contract value and is not available for cash surrender or as a death benefit.
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FIA1451-2
FIA1451-2
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