Key Terms Glossary of Useful Product Definitions
Interest Crediting Strategies
Partial Withdrawal
Contract owners choose from several index or fixed value crediting strategies, each offering different opportunities for growth. Joint annuity owners must be married to elect a joint life payout. Payment factor is based on the age of the younger joint payee at election. Payments are made through the life of the last surviving spouse, so long as spousal continuation is elected. At no time will the Cash Surrender Value of the contract be less than 87.5% of premium received, less any withdrawals, accumulated at the minimum guaranteed interest rate.
Available at any time, for partial distribution over the Free Withdrawal amount. Surrender Charges and minimum values will apply. For the owner and sole annuitant, payouts are based on age at election. Termination of the contract in exchange for Cash Surrender Value. Fee charged, when applicable, for full or partial distribution over the Free Withdrawal amount.
Joint Life Payout
Single Life Payout
Surrender
Minimum Guaranteed Surrender Value (MGSV)
Surrender Charge
EstateShield 9
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