How does Income 150+ FIA work?
Your Income 150+ FIA may grow your future guaranteed income through two different buckets: the contract value and the Withdrawal Base.
The contract value is the annuity account balance that may grow through your choice of a broad array of index linked interest crediting strategies. It is also, less any applicable charges, the surrender value, which is the money you can walk away with should you decide to cancel, or “surrender” the annuity. 1 The Withdrawal Base is a value that will help determine your guaranteed income amount. This bucket grows 2 predictably over the years through several increases prior to activating your guaranteed income. 3 Both the contract value and the Withdrawal Base grow with downside protection, meaning your values are locked in and can never decline due to poor market performance.
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Withdrawal Base 5
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THIS HYPOTHETICAL IS NO GUARANTEE OF FUTURE RESULTS. ACTUAL RESULTS WILL VARY.
1 A withdrawal charge and MVA may be incurred if you withdraw all or a portion of your money during the withdrawal charge period. 2 The income benefit is included on date of issue for an annual charge of 1.20% of the Withdrawal Base at the end of each contract year deducted from the contract value. 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 Income Boosts, also known as Deferral Bonuses, are based on premium paid, adjusted for withdrawals, and credited to the Withdrawal Base, reduced for any withdrawal in proportion to the reduction in contract value. An annuity that provides bonus or multiplier features may o er higher or lower strategy parameters on applicable index strategies, such as index caps, than a product that doesn’t o er those features. Over time and under certain scenarios, the amount of the bonus or multiplier may be o set by these di erences. 4 Contract value figures are reflective of an index-linked strategy selection and guaranteed income deferred at least 10 years. 5 Withdrawal Base figures assume no withdrawals and reflective of income being deferred for at least 10 years.
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