Delaware Target Income 10

Additional retirement income options When you transition to retirement, Target Income 10 ® gives you the flexibility to receive income in several ways, in addition to guaranteed lifetime income. If an unexpected situation arises where you need access to your money, you have options.

Free withdrawals: you can take 10% of the total premium payments during the first contract year. After the first contract year, you may take 10% of the last contract anniversary value. Both options are free of surrender charges and any applicable Market Value Adjustment (MVA). You may take withdrawals in excess of the free withdrawal amount but surrender charges and a MVA will apply. However, please note that any withdrawals taken prior to the Income Start Date (“early withdrawals”) will reduce the GLWB and future lifetime income. Turn your annuity into an income stream: You also have the option to annuitize your contract. Target Income 10 ® offers several annuity payout options, including income for life or for a specified period, for you and your spouse (if you purchase a joint contract).

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Surrender charge exceptions

If you are required to take a RMD, and that RMD is more than your 10% free withdrawal or your guaranteed annual lifetime income payment, you may take the entire RMD without a surrender charge or adjustment to your GLWB. 1 You may take a one-time withdrawal from your annuity, after the first contract anniversary, without a surrender charge if you are confined to a hospital or nursing facility for at least 90 days, as long as the contract is purchased before your 76th birthday. After a period of one year, you may take a one-time withdrawal from your annuity without a surrender charge to pay for hospice care.

Required Minimum Distributions (RMDs)

Nursing Home Waiver 2

Terminal Illness Waiver 2

Withdrawals Withdrawals are taxed as ordinary income and, if taken prior to age 59½, there may be a 10% federal tax penalty. Withdrawals will reduce any protection benefits and may result in a surrender charge or a market value adjustment (MVA). 1 Please refer to the contract for additional details. 2 Must meet certain criteria. Subject to state availability. Please refer to the contract for details.

Delaware Life Target Income 10 ® Fixed Index Annuity

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