ENJOY. Now that you’ve prepared for retirement and built upon your funds, it’s time to finally enjoy all the hard work you’ve put forth, free from worries about running out of money. When you purchase your ApexAdvantage annuity, you have the option to add a GLWB rider for an annual charge, providing a guaranteed stream of lifetime income. Your choices include the FutureNow Rider SM or the FutureNow Rider With Booster,* both of which are designed to provide early income so you can enjoy retirement sooner. Once you’ve elected a rider, it cannot be exchanged for the other.
FutureNow Rider
FutureNow Rider With Booster*
Income payments can start as early as 30 days after the issue date, provided all covered persons are at least age 50. At this point, you can also elect to turn on either single or spousal payments. In addition, when you elect to begin taking income, you can choose one of two payout options: level or increasing. The level payout option provides fixed lifetime payments, allowing you to plan for payments that will not change. With the increasing payout option, payments start out lower than level payments, but can increase on each activity date to help you keep up with inflation or increased expenses. The FutureNow Rider is available for a 1.25% annual charge.
If you are concerned about health care costs derailing your retirement, the FutureNow Rider With Booster can help to address those concerns. The FutureNow Rider With Booster offers the same features as the FutureNow Rider; however, it also offers a booster benefit that doubles your income payments if you (or your spouse if you have elected spousal payments) become unable to perform at least two of six activities of daily living (ADLs): • Bathing • Continence • Dressing • Eating • Toileting • Transferring The rider must be in force for at least two years, and you must have activated income before the booster benefit can be triggered. The booster benefit continues until qualification is no longer met or the accumulation value reaches $0. Once the accumulation value has been exhausted, income payments will revert to the “non-boosted” standard amount. If qualification is no longer met, you will be unable to qualify again for the boosted amount. Each covered person may qualify for the booster benefit once during the life of the policy. The FutureNow Rider With Booster is available for a 1.35% annual charge.
* May not be available in all states.
10 APEX ADVANTAGE | MODIFIED SINGLE PREMIUM DEFERRED INDEX ANNUITY
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