Access to Funds There are times when you may need to access your funds during the surrender-charge period. We have created withdrawal options without a surrender charge or market value adjustment to help in certain situations. The minimum withdrawal amount is $500. You must maintain an annuity balance of $2,000, with the exception of Required Minimum Distributions. There may be a 10 percent early-withdrawal IRS penalty for surrenders that occur before age 59½. Please consult a tax professional for guidance.
Partial Index Crediting A partial index credit is available for terminal conditions, nursing home residency, annuitization or death benefit waivers. This credit is available if the withdrawal is made before the 12-month index term ends and there was growth in the index.
10% Annual Withdrawals 3 You can withdraw up to 10% of the annuity fund value per year without a surrender charge. Required Minimum Distributions You can schedule surrender-charge-free annuity payments that meet IRS-required minimum distributions for tax-qualified plans. Terminal Conditions 3 You can withdraw funds without a surrender charge if you are diagnosed with a terminal condition with a life expectancy of 12 months or less. Nursing Home Residency 3 You can withdraw funds without a surrender charge if you are a resident in a nursing home for 30 or more consecutive days. Death of Owner or Death of Annuitant Death benefit payments are available without a surrender charge. After the death of an annuitant, the owner may elect a withdrawal within 180 days of the death and surrender charges will be waived. Annuitization Annuitization is the process of changing from accumulating savings to generating a guaranteed income stream. You may convert your deferred annuity to a payment stream with The Standard at any time without a surrender charge. You must choose either a lifetime income payment option or a certain period of at least five years.
3 Applies after the first contract year.
The Standard
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