Access to your money Flexible withdrawals in an annuity may be hard to come by, but with SecureLink Ultra 5, you can access a portion of your annuity’s value without contract penalty. The minimum withdrawal amount is $250. Free withdrawal amount You may access up to 10% of your annuity’s contract value as of the prior contract anniversary (in the first contract year, 10% of your purchase payment) without incurring a surrender charge or Market Value Adjustment. If you need to withdraw more than 10%, there is a surrender charge and possibility of a Market Value Adjustment during the first five years. RMD Friendly When required by the IRS, you may withdraw any additional amount needed to meet the IRS Required Minimum Distribution (RMD) from this contract for that year. Keep in mind that withdrawals prior to age 59½ may be subject to a 10% federal tax penalty. Surrender charge on withdrawal The following charge applies to withdrawals above the free withdrawal amount (or RMD if applicable). The charge is a percentage of the additional amount withdrawn. Remember, the free withdrawal amount is not available upon full contract surrender during the first five contract years. You may access your entire contract value after the fifth contract anniversary without any charges.
Beginning of contract year
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2
3
4
5
6+
Percentage
9%
8%
7%
6%
5%
0%
A surrender charge would result in a reduction to the amount you receive upon withdrawal or surrender in the early years of the contract. The surrender charge is waived if you decide to annuitize and receive regular income payments from your annuity, or if you die. The surrender charge is also waived upon withdrawal or surrender during a qualifying nursing home stay or terminal condition of the owner or joint owner. There is a one-year waiting period following any change of ownership during which these waiver provisions do not apply. Keep in mind that all withdrawals reduce the contract, surrender, and death benefit values. Market Value Adjustment (MVA) During the first five years of your contract, a Market Value Adjustment (MVA) may be applied to amounts surrendered or withdrawn in excess of the free withdrawal amount. The purpose of the MVA is to reflect changes in market rates that have occurred since contract issue. The MVA can either increase or decrease the amount withdrawn from the annuity’s value. Generally, if market conditions have decreased, the MVA will be positive, and if market conditions have increased, the MVA will be negative. Please note that surrender charges may also apply. The Market Value Adjustment feature may not be applicable in all states. Please check with your financial professional. A negative MVA will never cause the amount you receive to be less than the Guaranteed Minimum Surrender Value (GMSV), and a positive MVA will never exceed the amount of Surrender Charge assessed on the withdrawal or surrender. In addition, any limitation will apply in both the positive and negative direction.
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