Access your Account Value While SurePath Income is designed for the long term, unexpected needs can arise where you may need your money. If that happens, you can choose: • Free Withdrawals* —In the first contract year, you may withdraw up to 10% of the total premium, without incurring Surrender Charges or a Market Value Adjustment (MVA). After the first contract year, you may withdraw up to 10% of the Account Value (based on the previous contract anniversary, after all index/ interest credits are applied) without Surrender Charges or an MVA. • Non-Lifetime Withdrawals** —If you need to take a withdrawal, but aren’t ready to start taking lifetime income, you may take an unlimited number of Non- Lifetime Withdrawals before you start taking income. Non-Lifetime Withdrawals will proportionately reduce your Guaranteed Income Amount, Income Benefit Base, and daily credited roll-up amount by the percentage the withdrawal represents of the current Account Value. Non-Lifetime Withdrawals are subject to Surrender Charges and an MVA during the surrender charge period. • Lifetime Withdrawals —When you’re ready to take income, you can elect to begin receiving Lifetime Withdrawals. The amount of income you’ll receive depends on the value of your Income Benefit Base, upon the first Lifetime Withdrawal, multiplied by the Withdrawal Percentage based on your age (or the youngest spouse’s age if you choose the spousal option) as of the issue date of the contract. If your Account Value declines, or eventually even goes to zero (as long as the Account Value has not gone to zero due to Excess Income), your Lifetime Withdrawals will continue for the remainder of your life. • Full Surrender —If you choose to surrender your annuity, you will receive the greater of your Account Value (minus any applicable Surrender Charges and adjusted by any MVA) and your Minimum Guaranteed Surrender Value.
A note about Required Minimum Distribution For qualified annuities,* Lifetime Withdrawals that exceed the GIA, but which you are required to take as a Required Minimum Distribution (RMD) from your annuity, are not treated as withdrawals of Excess Income. They will not reduce your Income Benefit Base. An RMD taken as a Non-Lifetime Withdrawal will reduce your Income Benefit Base, daily credited roll-up amount, and GIA, as described previously. If the first withdrawal from your annuity is taken to satisfy an RMD, it will be considered a Lifetime Withdrawal unless designated by you as a Non-Lifetime Withdrawal. No Surrender Charge or Market Value Adjustment will apply to withdrawals taken to satisfy an RMD that Prudential calculates. Legacy protection for your beneficiaries SurePath Income offers a built-in Death Benefit for your loved ones that is equal to the greater of your Account Value or the Minimum Guaranteed Surrender Value. If you pass away before the end of an Index Term, Prudential will credit a portion of the interest (if the index has increased, subject to the applicable Cap Rate or Participation Rate) to the Account Value. The Interest Credited will be calculated proportionally based on the amount of time elapsed within the 1- or 3-year Index Term. If the contract is co-owned with your spouse, the Death Benefit is payable on the death of the first owner. The surviving spouse may choose to receive the Death Benefit as a lump-sum payment or continue the annuity at the current level.
* Withdrawals taken during an index term are not eligible for any future interest credits and are generally considered to be first a return of taxable gain, then a return of investment. Withdrawals prior to age 59½ may be subject to a 10% additional tax. ** You must inform us if your withdrawal is intended to be a Non-Lifetime Withdrawal; otherwise it will be considered a Lifetime Withdrawal.
SurePath ® Income Fixed Indexed Annuity 9
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