Annual Free Withdrawals
You may make the following withdrawals without incurring withdrawal charges:
• Up to 10% of the beginning-of-year contract value (10% of Annuity Deposit in the first Contract Year). State variations apply. • Any Required Minimum Distribution (RMD) imposed by the IRS on this contract, even if it exceeds the free withdrawal amount.* State variations apply. The free withdrawal amount will equal the greater of the two amounts described above. Any withdrawals in excess of the above amounts will be subject to a withdrawal charge, not to exceed 8%.
Full Surrenders**
If you need to surrender your full contract value before the end of your withdrawal charge period, you may do so. Upon your request, we will issue a check for the entire contract withdrawal value. Withdrawal charges only apply within the withdrawal charge period.
Annuitization
You can use your annuity’s value to generate a regular income stream of payments through a process called annuitization. There are several settlement options available for your contract, including those that will generate a guaranteed*** lifetime income. Read your contract for complete details on the annuitization options available.
* Not applicable for Inherited/Beneficiary IRAs. ** Withdrawal charges will be applied to the entire amount, including any free withdrawals made during the contract year, in Delaware, Florida, North Dakota and South Dakota. *** Guarantees are based on the claims-paying ability of Forethought Life Insurance Company.
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