Flexibility to adapt as your needs change
Everybody has a plan until life hits them with the unexpected. With Target Income 10 ® , you have built-in flexibility features that are designed to adapt to your changing needs in retirement.
You are unsure if you need single or joint income. You have the flexibility to choose guaranteed lifetime income for you, or you and your spouse—and you can wait until you’re ready to take income to make your selection. 1 You also have the flexibility to add your spouse, if you are married after you purchase the contract. You want to start taking income but don’t want to miss a roll-up bonus credit. You’re eligible to receive a pro-rated roll-up bonus credit to your benefit base on your Income Start Date – the date you turn on lifetime income. You need access to money for emergencies—or opportunities. You may take early withdrawals up to an annual 10% free withdrawal amount. Any withdrawal taken prior to starting lifetime income does not stop your roll-up. 2, 3 You have additional money and would like to add to your annuity contract. You can add money into your Target Income 10 ® fixed index annuity at any time. 4 You no longer need income protection. If you decide you no longer need the income guarantees associated with the GLWB, you can cancel the rider after the first contract year.
1 Joint lifetime income is available at no additional cost. 2 During the surrender charge period of your annuity contract, you can withdraw up to 10% of the value of your annuity account each year without paying any extra “early surrender” charges. Any early withdrawals taken in excess of these amounts will be subject to the surrender charges specified in your contract. But remember: The taxable portion of any withdrawal is taxed as ordinary income, and you may have to pay a 10% federal tax penalty if you are younger than age 59½. 3 Withdrawals prior to the income start date will reduce the GLWB benefit base and associated future lifetime income. 4 The premium bonus is only applied to payments added in the first contract year. Additional payments made after the first 90 days are not included in the roll-up bonus base.
Delaware Life Target Income 10 ® Fixed Index Annuity
8
Made with FlippingBook - Share PDF online