Features for the Unexpected
In addition to interest rate guarantees and income flexibility that Premier Voyage offers, we also offer added features that are important considerations Nursing Home and Hospital Waiver
Death Benefit 11 Your contract includes a death benefit that will be paid to your named beneficiary should you pass away. If you pass away prior to receiving annuity payments, your beneficiary will receive the contract value as of the date we receive due proof of death and election of a payment option. If you pass away once you start receiving annuity payments, the amount your beneficiary will receive is based on the annuity option you elect.
If you are confined to a licensed nursing home or accredited hospital for an extended period, you can access all or a portion of contract value without the application of surrender charges or MVA. Terminal Illness Waiver If you are diagnosed with a terminal illness after the contract has been issued, you can access all or a portion of contract value without the application of surrender charges or MVA. Cancellation Rights In addition to the ability to free look the contract within 10 calendar days after contract issue, you also have 10 calendar days to cancel your guarantee period renewal choice or cancel any additional purchase payments you make upon renewal.
11 For qualified contracts, upon the death of the owner (annuitant if the contract is held as a Custodial IRA), we may shorten the remaining payment period in order to ensure that payments do not continue beyond the 10 year post-death distribution period provided under IRC section 401(a)(9), or beyond the beneficiary’s life or life expectancy for certain classes of beneficiaries, such as a spouse or an individual who is not more than 10 years younger than the decedent.
Enhanced Income Payments If the annuity option you elect under Premier Voyage is available under a single premium immediate annuity that we offer on the annuity date, the Annuity Payment Increase Rate guarantees that you will get an enhanced annuity rate that is higher than the rate offered for the same option under our immediate annuity.
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