Growth potential The PrimePath Pro 10 fixed index annuity has growth opportunities that you can take advantage of as you build your retirement savings. How your annuity grows Accumulation value growth The interest earned in the fixed and indexed accounts is applied to your contract’s accumulation value. Benefit base The benefits rider is included for no annual charge which is guaranteed for life of contract.
Benefit base roll-up During the benefit base roll-up period, the benefit base grows each year by the benefit base roll-up amount. The benefit base roll-up amount is double the weighted average interest credit percentage, which reflects credit rates and strategy fees if applicable, (based on allocations at the beginning of the contract year) multiplied by the benefit base. What this means is if the weighted average interest credited across all strategies is 3%, the benefit base is $100,000, the benefit base roll-up amount will be $100,000 x 2 x 3% or $6,000. The benefit base after the benefit base roll-up amount will be $106,000. The benefit base roll-up amount will never be less than zero. The benefit base roll-up period is each contract anniversary until the earlier of the 15th contract anniversary or the lifetime payment election date. The benefit base, used for purposes of calculating the death benefit, may not exceed the rider death benefit maximum. Benefit base floor The benefit base floor is equal to the premiums, less any proportional reductions for withdrawals, accumulated at the benefit base floor annual roll-up rate. When you utilize the benefit base by starting LPAs, the benefit base is guaranteed to be no less than the benefit base floor. The benefit base floor roll-up period is each contract anniversary until the
lifetime payment election date. Death benefit maximum
The rider death benefit is the greater of the benefit base and the benefit base floor as of the date of death, subject to a death benefit maximum. The rider death benefit maximum for some states is the greater of 250% multiplied by the total premium less gross partial surrenders or 125% multiplied by cash surrender value.
32754Z
8
REV 1-24
Made with FlippingBook - Share PDF online