Excess withdrawals It’s possible to withdraw more than your income withdrawal amount at any time, but it will reduce your future income withdrawals permanently. • Any amount withdrawn in addition to your income withdrawal is considered an excess withdrawal, with the exception of a Required Minimum Distribution (RMD). • If the excess withdrawal amount exceeds the penalty-free provisions of the contract, it may be subject to a surrender charge or MVA. 6 • Excess withdrawals reduce future income withdrawals and the Benefit Base in proportion to the reduction in Accumulation Value. Waiting can boost your income Starting income withdrawals later can significantly increase your income over the remaining years, as shown here.
$100,000 premium Annual income withdrawal starting after:
Issue age
1 year
5 years
10 years
60
$8,828
$12,272
$15,054
65
$9,496
$13,149
$16,058
70
$10,165
$14,026
$17,061
75
$10,834
$14,902
$18,065
If you stop income withdrawals You have the option to stop income withdrawals at any time. While the payments are stopped, partial withdrawals in excess of the income withdrawal amount will be considered excess withdrawals and reduce your future income withdrawal amount. If you decide to restart income withdrawals, the income withdrawal amount will be the greater of the prior income withdrawal amount (adjusted for any excess withdrawals) or the original income withdrawal percentage multiplied by the current Benefit Base. IBR fee The IBR has an annual rider fee of 1.25% of your Accumulation Value on each contract anniversary. This fee is deducted proportionately from each crediting account.
10 | MARKETSEVEN INDEX® ANNUITY
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