OUR MYGA OFFERS OTHER FLEXIBLE BENEFITS YOU MAY VALUE
ANNUITIZATION OPTIONS
AVAILABLE SPOUSAL CONTINUATION
You may choose to annuitize after the first contract year with no penalty. There are currently
If the spouse of a deceased owner is the beneficiary, the surviving spouse has the option to elect to continue the contract as the new owner. In the case of a non-qualified contract, the surviving spouse must be the sole beneficiary.
seven annuity payment options available from which to choose.
NURSING HOME & TERMINAL ILLNESS WAIVERS
FREE WITHDRAWAL
Nassau MYAnnuity® 5X/7X and Nassau MYAnnuity 5X in NY offer a choice between 0% and 10% annual free withdrawals. Your election must be made when you apply. Nassau Simple Annuity offers 5% annual free withdrawals. You may withdraw up to the free withdrawal amount (if included) without a surrender charge or market value adjustment.
We also offer nursing home and terminal illness surrender charge waivers (a market value adjustment may still apply). Surrender charges may be waived if the owner is admitted into a licensed nursing home or if the owner is diagnosed with a terminal illness that is expected to result in a death within six months. Waivers are only available after the first contract year. Subject to state approval and certain conditions being met.
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