Penalty-free withdrawals After the first contract anniversary, you may choose to take a penalty-free withdrawal (also known as a penalty- free partial surrender) equal to the interest earned in the prior contract year. If you withdraw more than interest earned in a year, a surrender charge and market value adjustment may apply. By current company practice*, you may take a penalty- free withdrawal in the first contract year equal to interest earned in the first year. You may elect to receive interest withdrawal payments on a monthly, quarterly, semi-annual or annual basis, called a systematic withdrawal, these scheduled payments are penalty-free but must be at least $50 each. *Any features offered by current company practice are not contractual guarantees of your annuity Contract and can be removed or changed at any time.
Nursing home confinement waiver (not available in South Dakota) After the first contract anniversary, if the annuitant becomes confined to a qualified nursing care center, as defined in the rider, up to 100% of your accumulation value without a surrender charge and without application of a market value adjustment (MVA) is available. If 100% of the accumulation value is taken, it will be considered a full surrender and the contract will terminate. You cannot be confined at the time your contract is issued. This rider is automatically included with your annuity at no additional charge. If joint annuitants are named on the annuity, the waiver will apply to the first annuitant who qualifies for the benefit, but not both. Your annuitization payout options You can choose to receive annuity payments based on your choice of several annuity options. Once you elect an annuitization option, it cannot be changed, and all other rights and benefits under the annuity end. The payment amount and number of payments will be based on your annuity’s surrender value and the annuitization option you choose. See table below for available payout options. Payout options With the exception of life income options, income options are available from five to 20 years. Choose from:
• Income for a specified period • Income for a specified amount • Life income with a period certain • Life income • Joint and survivor life income
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REV 5-23
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