Access to your money Flexible withdrawals in an annuity may be hard to come by, but with SecureLink Future 7, you can access a portion of your annuity’s value without contract penalty. The minimum withdrawal amount is $250. Free withdrawal amount After the first contract year, you may access up to 10% of your annuity’s contract value (as of the prior contract anniversary) without incurring a surrender charge. If you need to withdraw more than 10%, there is a surrender charge during the first seven years. RMD Friendly When required by the IRS, you may withdraw any additional amount needed to meet the IRS Required Minimum Distribution (RMD) from this contract for that year. Keep in mind that withdrawals prior to age 59½ may be subject to a 10% federal tax penalty. Surrender charge on withdrawal You may access your entire contract value after the seventh contract year without any contract charges. The following charge applies to withdrawals above the amount allowed. The charge is a percentage of the additional amount withdrawn. Remember, the “free withdrawal amount” is not available upon surrender.
Beginning of contract year
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Percentage
9% 8% 7% 6% 5% 4% 3% 0%
A surrender charge would result in a reduction to the contract owner’s principal upon withdrawal or surrender in the early years of the contract. The surrender charge is waived if you decide to annuitize and receive regular income payments from your annuity, or if the annuity owner dies. Keep in mind that all withdrawals reduce the contract, surrender and death benefit values. Guaranteed Minimum Surrender Value If you decide to surrender your SecureLink Future 7 annuity contract, you have another layer of protection with the Guaranteed Minimum Surrender Value. It’s equal to 87.5% of your purchase payments, accumulated at the Guaranteed Minimum Surrender Value interest rates and adjusted for amounts withdrawn. The interest rates are between 1 and 3% and are guaranteed for the life of your contract. The value available at surrender will be the greater of your contract value — less any surrender charges – or the Guaranteed Minimum Surrender Value. Protection for your loved ones SecureLink Future 7 provides additional protection for you and your loved ones. If you die, your beneficiary will receive the greater of the contract value or the Guaranteed Minimum Surrender Value.
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