Money access Withdrawal privileges offer peace of mind in knowing your money is not out of reach. • Every contract year, you can withdraw up to 10% of the beginning of year annuity value free of surrender changes and adjustments. 4 • In New York only, in the first year you can only withdraw up to the interest earned without surrender changes and adjustments and 10% beginning in contract year two. Access when needed most For those unexpected health care events in your life, Palladium® MYG provides a Confinement Waiver, Terminal Illness Waiver, and a Disability Waiver that allows you to have access to your money without any surrender charges, any applicable market value adjustments, or excess interest deduction. All waivers may not be available in all states. However, any increase in the value of the annuity contract will be taxable as ordinary income, as would any withdrawals from a qualified contract. Asset Protection You can name individual beneficiaries thereby bypassing probate and the expenses that go with it. Should you die, you can pass the full value of your Palladium® MYG to your beneficiary free of any surrender charges or additional expenses that could deplete your bequest.
Options post-guarantee period When the guarantee period you’ve chosen comes to an end, Palladium® MYG gives you flexibility and choice. At the end of your guarantee period, you can either: • Withdraw all money without penalty during a special 30-day window, or • Continue the annuity and earn an annual effective interest rate declared annually on the policy anniversary. Should you decide to continue your annuity, your contract has a Minimum Guaranteed Interest Rate to assure annual growth in your annuity after the end of your guarantee period. Controlled taxes This product allows for tax-deferred growth until you need the money from your annuity. 2 While it is growing tax-deferred, you will receive compounded interest on the entire amount in the annuity and not on the after tax amount as you would with taxable products each year. 3 Annual effective interest rate It pays an annual “effective interest rate” based upon compounding of both the principal and interest. Interest will be credited to the annuity, compounded daily, based on a 365 day year. Any withdrawals, including interest-only withdrawals, will reduce the amount of interest credited to your contract.
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