Nursing Home Waiver Up to 50% of the accumulated Account Value is available penalty-free after the first contract year if on a Physician’s written recommendation, 2 the Annuitant is confined in an Eligible Nursing Home due to: medical necessity, the Annuitant being unable to perform two of the Activities of Daily Living (ADL), or the Annuitant having a cognitive impairment. The ADLs are: eating, bathing, dressing, transferring, toileting, and continence (and ambulating in California only). Nursing home confinement must last for 90 days before Annuitant is eligible for the benefit. The Waiver benefit is not available if the annuitant was confined to nursing home when the policy was issued. See California supplemental form for state specific waiver information. Certain restrictions apply, see contract for details. The Nursing Home Benefit is not available in South Dakota. Surrender Charge Period The Surrender Charge Period is 10 years in most states and 9 years in California. The following charges will apply during the Surrender Charge Period. See California supplemental information for Withdrawal Charges.
Withdrawal Charges YEAR 1
2
3
4
5
6
7
3-YEAR
7.65% 7.50% 6.50%
5-YEAR
7.65% 7.50% 6.50% 5.55% 4.55%
7-YEAR
7.65% 7.50% 6.50% 5.55% 4.55% 3.55% 2.50%
Market Value Adjustment (MVA) A Market Value Adjustment may apply to withdrawals over the Free Withdrawal amounts during the Withdrawal Charge Period and to certain annuitization options. The MVA is based on the change in the leading bond index yield from the close of business on the day prior to your contract being issued and the close of business the day prior to your withdrawal. The MVA may be a credit, increasing your withdrawal amount, or a fee, decreasing your withdrawal amount. Due to the mechanics of an MVA, Withdrawal Amounts generally decrease as the index yield rises. When the index yield decreases enough over time, the Withdrawal Amounts generally increase. Even with a negative MVA, you will never receive less than the Guaranteed Minimum Cash Value. DEATH BENEFIT Nobody likes to think about it, but everyone has to face it sooner or later. In the event of your death, your beneficiaries will receive a benefit that is equal to the Accumulated Account Value, adding to the legacy you’ve built. You will be able to name your beneficiaries during the application process.
2 A physician is a person who is legally licensed in the United States as a Doctor of Medicine (MD) or as a Doctor of Osteopathy (DO) and who is not the Owner or the Annuitant or a member of the immediate family of the Owner or Annuitant.
800.422.2011
www.investorsheritage.com
PO Box 717
Frankfort, KY 40602
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