Delaware Life and you
PrimeStart Bonus 10 SM product summary
Core annuity features
Delaware Life has decades of annuity innovations and brings you a long history and solid track record. At Delaware Life, we develop smart annuities to address your unique retirement needs. To us, pure value is part of everything we do—we want you to know what you’re getting and what you’re paying for it. This includes developing competitive products; delivering a seamless, efficient experience; and serving as an honest and reliable financial institution. We want you and your financial professional to feel that it’s easy to do business with Delaware Life, and we work every day to continually improve your experience with us. It’s our mission at Delaware Life Insurance Company to offer our clients practical solutions with easy-to- understand features and deliver them with clarity and integrity. We aim to provide a seamless experience that gives our clients exactly what they’re looking for:
Issue ages
18-80
Minimum initial premium payment
$25,000 for both qualified and nonqualified money; Flexible premium deferred annuity
Minimum: $500 Maximum: Total premium cannot exceed $1M without prior approval
Subsequent payments 1
Premium bonus
10% of premium payments made within first 60 days of issue
Year
1
2
3 4 5 6 7
8 9 10 11+
Standard Schedule California Schedule
Premium bonus recapture period 2
• Comfort of understanding • Confidence of transparency • Streamlined products without needless features
100% 95% 85% 75% 65% 55% 45% 30% 20% 10% 0%
100% 95% 85% 75% 65% 55% 40% 30% 15% 0% 0%
10% of the total premium payments during the first contract year; Greater of 10% of the last contract anniversary value or required minimum distribution (RMD) amount, if any, in the contract years thereafter
We can help you reach your retirement destination We are focused on addressing the real issues of retirement and legacy planning, providing solutions for both accumulation and income. That’s why we offer annuities with the potential for growth, and for income, that can last a lifetime—so our customers can plan for new adventures in retirement.
Free withdrawal amount 3
Standard 10-year non-rolling surrender charge period Year 1 2 3 4 5
6 7
8 9 10 11+
Surrender charge period 4
Standard Schedule California Schedule
10-Year 9.00%8.00% 7.25% 6.50%5.50%4.75% 3.75%3.00%2.00% 1.00% 0%
9-Year 7.25%6.00%5.25%4.50%3.50%2.75%1.75%0.50%0.50% 0% 0%
Market value adjustment State variations apply
Applies to withdrawals and surrenders greater than the free withdrawal amount. Waived at death • Maximum annuitization age: 100 • Annuitization options: Single-life only, Single-life with period certain, Joint and survivor life
Annuitization 5
Death Benefit
Greater of account value or surrender value Additional no-cost benefits
• After a period of one year, you may withdraw money from your annuity without a surrender charge to pay for an eligible nursing home or hospice care • Contract must be purchased prior to the owner’s attained age of 76 for the nursing home waiver
Nursing home & terminal illness waivers 6
1 Subsequent payments not permitted after any owner/annuitant has attained age 85. 2 A portion of the premium bonus is returned to us if you withdraw more than your free withdrawal amount or begin annuity payments before the end of the surrender charge period. 3 Withdrawals are taxed as ordinary income and, if taken prior to age 59½, there may be a 10% federal tax penalty. Withdrawals may result in a surrender charge or MVA. 4 With a non-rolling surrender charge, all payments are free from surrender charges at the end of the surrender charge period.
5 We may offer other options other than those listed. Please refer to the contract for details. 6 Must meet certain criteria. Subject to state availability. Please refer to the contract for details.
Delaware Life PrimeStart Bonus 10 SM Fixed Index Annuity
Delaware Life PrimeStart Bonus 10 SM Fixed Index Annuity
9
8
Made with FlippingBook - Share PDF online