Page 6
Excelera Product Highlights Product features at a glance
Excelera offers Guarantee Periods of 3, 5 and 7 years. Your fixed rate is set at the start of your Contract and is guaranteed for its full term.
Guarantee Periods
0-85 (Qualified funds) 0-90 (Non-Qualified funds)
Issue Ages
$25,000 for Qualified Contracts, $50,000 for Non-Qualified Contracts
Minimum Premium
$1,000,000 (higher amounts will be considered and require company approval) Your Contract may be annuitized without Surrender Charge or MVA at any time after the third contract year, provided that a life contingent or period certain of 8-10 years is elected.
Maximum Premium
Annuitization Payment Options
Maximum Annuitization Age
100 years
(1)
Free Partial Withdrawals
If your Contract is renewed for a second term, free partial withdrawals up to 10% of the Accumulation Value may be taken each year without incurring Surrender Charges or MVA. The Contract Owner can access required IRS Required Minimum Distributions (RMDs) without incurring a Surrender Charge. Surrender Charges and MVA will be waived if one of the following events occurs: The Contract Owner becomes confined to a nursing home for at least 90 consecutive days on or after the Contract Date The Contract Owner is confined for a total of at least 90 days if there is no more than a 6-month break in the confinement and the confinements are for related causes Surrender Charges and MVA will be waived if: The Contract Owner becomes terminally ill or injured in such a way that they are not expected to live more than 12 months Equals the Accumulation Value at time of death plus any positive MVA Surrender Charges do not apply to the death benefits paid. The Death Benefit will not be reduced by any negative MVA. Death Benefits are paid on the death of the owner(s) unless the owner is a non-natural person (eg. Trust). If the owner is a non-natural person, the death benefit is paid on the death of the annuitant.
RMDs
Nursing Home Rider
(2)(3)
Terminal Illness Rider
(2)(4)
Death Benefit
30 days
Free Look Period
The Contract Owner will be sent a notification at least 30 days prior to the end of the Initial Interest Guarantee Period notifying them of when the Guarantee Period is ending and of go-forward options. If the Contract Owner does not make any election, the Contract will renew for the same Guarantee Period at a credited rate declared by us at the time of the renewal, and a new Surrender Charge Period will begin.
Renewal Process
Made with FlippingBook - Share PDF online