WITHDRAWAL OPTIONS. BECAUSE LIFE HAPPENS.
There are a lot of things that can happen over a year, much less 10 years. And sometimes you might feel the need for a little extra cash. Not to worry, though. There are several circumstances in which you can access at least a portion of your money without penalty for expected or unexpected financial needs.
FREE WITHDRAWAL UP TO 10% CASH IN HAND.
You never know when a little extra cash might come in handy, which is why — after the first year — you can access up to 10% of your beginning-of-year account value penalty-free. And you can plan the withdrawal to suit your needs as a one-time payment or as automatic installments paid annually, semi-annually, quarterly or monthly. 5
REQUIRED MINIMUM DISTRIBUTIONS (RMDs) PENALTY-FREE RMDS.
The HGA is “RMD friendly.” The amount the IRS requires you to withdraw annually after reaching RMD age is available after the first six months, without fee, even if it exceeds your annual Free Withdrawal amount. Plus, you can schedule automatic withdrawals. 5
NURSING HOME WAIVER HOPE FOR THE BEST. PLAN FOR THE WORST.
Hopefully, you won’t need this waiver, but it’s here just in case. If — after the first year — you’re confined to a nursing home on your physician’s written recommendation for 90 consecutive days, you can access up to 50% of your account value. Certain conditions may apply. The Nursing Home Waiver is not available in all states. Talk to your financial planner for more detail. See California supplemental form for state specific waiver information.
5 There is a $100 minimum for withdrawals. Must be paid by electronic transfer. May be subject to additional terms.
HGA-CB-01-2023
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