following contract anniversary and will apply only to any additional contributions during the current contract year.
hospital for 90 days or more, your contract Accumulation Value will be available without surrender charges or MVA beginning in the second contract year and during your confinement. There is no charge for this waiver. Terminal Illness Rider If you are diagnosed with a terminal illness, charges will be waived for a withdrawal of up to 75% of the Accumulation Value. There is no charge for this rider. Benefits Upon Death of Owner If you die, the full accumulation value is paid to the beneficiary, without surrender charges or MVA. Free-Look Period After your contract is issued, you have a specified number of days to review it; see your contract for complete details. If you are not completely satisfied with the terms, you may return the contract and receive 100% of your premiums paid, minus any prior withdrawals.
Free Withdrawals You may withdraw up to 10% of the
accumulation value each year, after the first contract year, without paying any charges.
Full Surrender Your contract’s cash surrender value is available to you as a lump sum at any time. Surrender charges are in effect during the first 10 contract years, are a percentage of the Accumulation Value, and decline annually: 9, 8, 7, 6.5, 5.5, 4.5, 3.5, 2.5, 1.5 and 0.5%. 9 In addition, early surrenders or withdrawals over 10% may be subject to a Market Value Adjustment (MVA). 10 At the end of the surrender charge period, your cash surrender value will equal the full Accumulation Value. Ask your agent for more details on the MVA, or refer to your contract. The Value of Tax Deferral Currently, all interest income earned on an annuity accumulates on a tax-deferred basis. No income taxes are payable until you receive a payment from your contract. If you are under age 59 ½ at the time of withdrawal, an additional 10% IRS penalty may be imposed. Minimum Guaranteed Contract Value You are guaranteed to receive no less than 87.5% of your premiums — less Long-Term Care Rider fees and any partial withdrawals — accumulated at the minimum guaranteed contract rate. Ask your agent for the minimum guaranteed rate.
Nursing Home Waiver For additional peace of mind, your
contract includes a Nursing Home Waiver. If you are confined to a nursing home or
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ET-BRG-1100A (08-22)
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