Target Growth 10 ® Fixed Index Annuity Product summary Issue ages 18-80
$25,000 for both qualified and nonqualified money; flexible premium deferred annuity
Minimum initial premium
Minimum: $500; Maximum: Total premiums cannot exceed $1M without prior approval
Subsequent premiums 1
Plan types
Nonqualified, IRA, SEP-IRA, and Roth IRA
10% of the total premiums during the first contract year; 10% of the last contract anniversary value or required minimum distribution (RMD), if greater, in the contract years thereafter
Free withdrawal amount 2
Surrender charges 3
10-year non-rolling surrender charge schedule: Year 1
234567891011+
Standard schedule
10% 10% 10% 10% 10% 9% 8% 7% 6% 5% 0%
Market value adjustment State variations apply
Applies to withdrawals and surrenders greater than the free withdrawal amount; waived at death or within bailout window
Available one year from contract issue: • Single-life only • Single-life with 10-30-year period certain • Joint and survivor life
Annuitization 4
Maximum annuitization age
95
Death benefit
Greater of account value or surrender value
No-cost benefits 5
GMAV; bailout provision; nursing home waiver; terminal illness waiver
1 Subsequent premiums not permitted after any owner/annuitant has attained age 85. 2 Withdrawals are taxed as ordinary income and, if taken prior to age 59½, there may be a 10% federal tax penalty. Withdrawals will reduce any protection benefits and may result in a surrender charge or a MVA. 3 With a non-rolling surrender charge, all premiums are free from surrender charges at the end of the surrender charge schedule. Below are the state-specific and California-only surrender schedules. The state-specific surrender schedule is for use in the following states: AK, CT, DE, FL, IA, ID, IN, MA, MD, MN, MO, MT, NJ, OH, OR, PA, SC, TX, UT, WA. Year 1 2 3 4 5 6 7 8 9 10 11+ State-specific schedule 10-Year 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%
California schedule
9-Year
9.20% 8.20% 7.20% 6.20% 5.20% 4.15% 3.15% 2.10% 1.05% 0% 0%
4 We may offer other options other than those listed. Please refer to the contract for details. 5 Must meet certain criteria. Subject to state availability. Please refer to the contract for details.
Delaware Life Target Growth 10 ® Fixed Index Annuity
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