BUILD. Now that you’ve prepared and are looking to continue building your dream retirement, ApexAdvantage offers multiple flexible features that put you in control of the assets you’ve worked so hard to accumulate . Transfer Flexibility Throughout the life of your policy, you have the ability to adapt your earnings approach as you see fit to achieve your annuity growth goals. On any index date, you have the option to transfer your money into or out of any available interest crediting option, as long as the minimum transfer amount is met. If you choose not to change your allocations at the end of an index period, your money will renew into the same option for another index period. Access* Because withdrawals can reduce the amount you receive in future lifetime income, one way to build your annuity’s accumulation and income potential is to allow it to grow until you’re ready to start lifetime payments. If you need to access your annuity’s value earlier, withdrawals, full surrender, or annuitization are allowed, but a penalty called a surrender charge will apply to any amount in excess of the penalty-free withdrawal amount. Surrender Charges Surrender charges apply during your annuity’s first 10 years if you choose to surrender the policy or take withdrawals that are greater than the penalty-free amount. The surrender charge is applied as a percentage of the amount withdrawn. Percentages vary by the policy year in which the withdrawal takes place.
Surrender Charge Schedule
Policy Year
1
2
3
4 5
6 7
8 9 10 11+
Surrender Charge
9% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%
The actual surrender charge schedule may vary by state. Ask your insurance professional about the surrender charge schedule in your state.
* Withdrawals may be taxable, and if made before age 59½, may also be subject to a tax penalty. It is recommended that tax advisers be consulted.
6 APEX ADVANTAGE | MODIFIED SINGLE PREMIUM DEFERRED INDEX ANNUITY
Made with FlippingBook - Share PDF online