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Income Driver 7 SINGLE PREMIUM INDEXED ANNUITY Get predictable income for life
25% Benefit Calculation Bonus with a Standard Guaranteed Lifetime Income Rider
Products issued by Life Insurance Company of the Southwest ®
National Life Group ® is a trade name of National Life Insurance Company (NLIC) founded in Montpelier, VT, in 1948, Life Insurance Company of the Southwest (LSW), Addison, TX, chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. No bank or credit union guarantee | Not a deposit | Not FDIC/NCUA insured | May lose value | Not insured by any federal or state government agency Guarantees are dependent upon the claims-paying ability of the issuing company. TC139026(0124)3 1 Cat No 106719(0124)
Income Driver 7 Protected From Market Risk. Ready to Grow. Predictable Guaranteed Lifetime Income. Income Driver 7 is a single premium, fixed indexed annuity that provides predictable income for life — while protecting your principal from market loss.
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PROTECT your principal
GROW your savings securely
GET INCOME — predictable and guaranteed for life
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Make your income last a lifetime. You have saved diligently for your retirement — but can you make your savings last for the rest of your life? Income Driver 7 with the Guaranteed Lifetime Income Rider (GLIR) can help your savings become retirement income that you can never outlive, while you still retain access to the remaining cash value.
When the GLIR benefit is activated, you are guaranteed a predictable income stream for the rest of your life!
Lifetime income can start immediately The lifetime income you receive is determined by the amount in the Benefit Calculation Base, which is not a value that can be withdrawn. The Benefit Calculation Base is boosted from the start with a 25% bonus if you choose the Standard GLIR , which has an annual charge. * You also have the option of a No-Charge GLIR , which does not offer a Benefit Calculation bonus. You can receive lifetime income as soon as you're ready to activate the GLIR.
Level or increasing income When you activate your Guaranteed Lifetime Income Rider, you can choose to get a level payment for life or an amount that will increase over time. If you select increasing income, your initial income will be lower than the level income, but your income will increase by 2.5% per year — until your accumulation value reaches zero dollars. Then, your income will lock in at the amount it has reached at that time.
Make your savings last Many seniors plan for a 20-year retirement, but for some that may result in outliving their savings. According to data from the Social Security Administration: 1
At age 65, 1 out of 3 people are expected to live until at least 90
At age 75, 1 out of 7 people are expected to live until at least 95
* The Standard GLIR has a charge of 1% of the benefit base, deducted from the accumulated value annually.
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Choose the GLIR that's right for you. Both the Standard GLIR and the No-Charge GLIR provide a guaranteed lifetime income. You can choose the GLIR that works best for you when you purchase the Income Driver 7 annuity. Here’s the difference between the two. Standard GLIR 2
No-Charge GLIR The No-Charge GLIR Benefit Calculation Base builds at an 10% simple roll-up rate until you activate the GLIR or after 10 years, whichever comes first.
The Standard GLIR credits an upfront 25% bonus to the Benefit Calculation Base. Then, the Benefit Calculation Base grows at an 10% simple roll-up rate until you activate the GLIR or after 10 years, whichever comes first.
Meet Henry *
Meet Connie *
Connie wants the maximum predictable guaranteed lifetime income possible between the two GLIR options. To get the Benefit Calculation Bonus, she is willing to pay an annual fee. She purchases an Income Driver 7 annuity with the Standard GLIR . Here’s how her GLIR will build and provide lifetime income at age 65.
Henry is not sure if he will use an income rider but wants the option of predictable guaranteed lifetime income if his situation changes. He purchases an Income Driver 7 annuity with the No-Charge GLIR . Here’s how his GLIR will build and provide lifetime income at age 65, if he chooses to activate it.
Connie’s Benefit Calculation Base grows by 10% every year for up to 10 years, or until the GLIR is activated, whichever comes first. If she activates the GLIR after year 7, she will receive at least $ , in guaranteed income every year for the rest of her life.
If the accumulation value of her policy is
Henry’s Benefit Calculation Base grows by 10% every year for up to 10 years, or until the GLIR is activated, whichever comes first. If he activates the GLIR after year 7, he will receive at least $, in guaranteed income every year for the rest of his life.
If the accumulation value of her policy is higher than the Benefit Calculation Base, his guaranteed income will be higher, because it will be based on the higher of the two numbers.
higher than the Benefit Calculation Base, her guaranteed income will be higher, because it will be based on the higher of the two numbers.
,
,
,
,
,
,
,
,
,
,
,
,
Initial 25% Bonus
,
,
Connie's Age
Henry's Age
Benefit Calculation Bonus: 25% of Initial Premium = $50,000
*Not a real customer
**The Benefit Calculation Base is not a value that can be withdrawn.
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Double your income when you need it most. Both of the GLIR options offer Income Doubler, which you can use if you become incapacitated.
With Income Doubler, your income can be doubled for up to five years if: • Your policy has been in force for two years. • You cannot perform two of the six activities of daily living without the assistance of another individual, who is permanently helping you with: – Bathing – Dressing – Transferring – Toileting – Continence – Eating • Your policy has an accumulation value greater than zero dollars. • The elected income is based on one life only. • No withdrawals in excess of the current lifetime income have been taken in the current policy year.
If Connie qualifies for the Income Doubler, her income for the next five years will double from $24,012 to $48,024
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How your retirement savings can grow. To make sure you’re in the best position possible before drawing a lifetime income stream, Income Driver 7 gives you multiple options to grow the value of your annuity. You can choose a fixed rate or opt for getting interest credited based on the growth of a market index of your choice — without directly participating in the market. 3 Available indexes You have the choice between three market indexes: S&P 500 ® Index The S&P 500 ® is widely regarded as the best single gauge of the U.S. equities market. This world-renowned index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 ® focuses on the large-cap segment of the market, it is also an ideal proxy for the total market. US Fundamental Balanced Index This index aims to minimize volatility through a blend of U.S. equities, U.S. treasuries, and cash. The asset classes are rebalanced daily to seek to minimize risk and the mix of U.S. equities is revised quarterly. This index was created and is owned by PIMCO. Global Balanced Index This index aims to enhance risk-adjusted returns by tracking a blend of global asset classes: equities, bonds, and commodities. The index composition is rebalanced among asset classes monthly based on the SG Sentiment Indicator. This indicator is made up of six cross-asset market risk measures. The overall allocation is then reviewed daily to reduce market exposure in case of high volatility. This index was created and owned by Société Générale.
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How is the indexed interest calculated? There are two ways interest can be calculated:
1. Point-to-point method Indexed interest is calculated by comparing the value of the index at the beginning and the ending date, either after one year (1-year point-to-point) or two years (2-year point-to-point), depending on your choice. The point-to-point method (both 1-year and 2-year) is available for all three indexes.
Using this method, if the value is lower at the end of the point-to-point period than at the start, you are protected from losing any cash value. When the index is positive, you get interest credited based on the positive increase of the index, subject to a cap rate and/or participation rate. 4
The Participation Rate is the percentage of the change of the index in which you participate.
100% Participation Rate
60% Participation Rate
140% Participation Rate
The Cap Rate is the maximum interest or upper limit that may be credited. For example, a cap of 10% means that 10% is the most that the chosen indexed crediting strategy will be credited.
How Your Cash Value Grows
STEP 2. Premium is allocated to the crediting strategies of your choice.
STEP 1. Pay your premium.
STEP 3. At the end of the 1-year or 2-year index crediting period, we calculate the change in your chosen interest crediting strategies. • If the change is positive, your policy is credited interest after applying any caps and participation rates. • If the change is negative, your policy is credited 0%.
Positive Calculated Change in Chosen Strategy Index % Change =
14.924% 10.000%
Interest Credited =
Negative Calculated Change in Chosen Strategy Index % Change =
-1.290%
Interest Credited =
0.000% Assumes Participation Rate 100%, Cap 10%
STEP 4. Any credited interest is added to your chosen interest crediting strategies based on the accumulated value at the end of the year. This means you have the potential to earn compound interest, further growing your cash value. Hypothetical example for illustration purposes only – this does not represent the actual results of the product.
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2. Monthly sum cap method This method is similar to the point-point-point method, but is based on the monthly index change, with a cap for that month. The 12 monthly changes, including negative percentages, are totaled at the end of every year to determine the interest credit.
You can change strategies Which index strategy you choose is up to you. No one can predict how the market will perform — and just because a strategy performed a certain way in the past, doesn’t mean it will perform that way in the future. You can also pick more than one strategy. However, remember that diversification does not assure a better return. You can change index strategies at the end of each crediting period.
Monthly Sum Cap
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG SEP OCT NOV DEC
1.25 1.25
1
1.25
.5 1.25 1.25
1.25
0
-1
-1
-3
Assumes a monthly cap of 1.25%. The sum of the 12 monthly changes equals 4%, which is the interest credited at the end of year 1.
Hypothetical example for illustration purposes only – this does not represent the actual results of the product.
Spread your premium over 12 months You may worry about getting an annuity at just the wrong time — for example, right before a steep market downturn. You can’t time the market, but one thing you can do is to spread your premium over 12 months, using Dollar Cost Averaging (DCA). If you choose to allocate all of your premium to a DCA account, 1/12th of your premium is moved into the index strategy of your choice each month, receiving that month’s rate for a 1- or 2-year period. You can also choose to allocate only a portion of your premium to a DCA account (with a minimum of $5,000), and every month, you have the option to move all remaining premium into an index strategy of your choice.
Spreading out your premium over a 12-month period helps capitalize on more potential interest rate crediting dates and reduces risk associated with one annual crediting anniversary. However, Dollar Cost Averaging does not guarantee an advantage over not using DCA. Until allocated into a monthly crediting strategy, premiums will earn interest in a fixed interest crediting account.
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Increase your interest potential with Rate Booster. For more upside potential, you can opt to get a Rate Booster, which is available with all indexed crediting options. Rate Booster crediting options provide higher participation rates and caps for an annual fee. * However, Rate Booster only benefits interest crediting during periods where interest is credited to that strategy. If no indexed interest is credited for that period, Rate Booster will have no effect. The charge for Rate Booster occurs for every crediting period, regardless of whether interest is credited.
Grow Your Retirement Savings Tax-Deferred.
If your retirement savings were in a standard savings account, you would be required to pay income tax on any interest you earned each year. And chances are, you are paying a higher tax rate on the interest now than you would be paying if you were retired. By putting your retirement savings into an annuity like Income Driver 7, your money can earn interest and have the potential to grow tax-deferred until withdrawn or received as income. When you are ready to begin regular withdrawals in retirement, your tax bill may be reduced if you are in a lower tax bracket at that time. Annuities owned by trusts or corporate entities may not enjoy the tax- deferral feature.
The Benefit of Tax Deferred Growth 5
20 YEARS 30 YEARS
156,051
160,458
Taxable Account Tax-Deferred Account
194,939
207,045
* Rate Booster is optional and available for all indexing strategies. Money allocated to a Rate Booster strategy has a 1% annual charge deducted from its accumulation value.
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Never lose a penny. As the longest standing issuer of indexed annuities, 6 National Life Group has seen many stock market
upswings and downturns. As retirement gets closer, volatility is a worry for many, because there’s not much time to recover from market losses.
The good news is that you’re not exposed to this risk because indexed annuities do not directly participate in any stock or equity investment, and you can never get less than 0% interest in any given period. That means that you can grow your retirement savings when markets do well — and never lose a penny of your interest earned and premium paid when markets fall. 7
Retire when you're ready...not when the market says you can!
2018 Bond market spike and inflation fear $5 trillion in market losses 9
2008 Mortgage Meltdown
2020 COVID pandemic
$2.3 trillion lost in retirement plans 8
$6 trillion in market losses 10
During these market declines, our indexed annuity policyholders never lost a penny of their policy value.
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What happens if I take out some or all of the money from my annuity before the policy's end? When you take money from your annuity in the first 7 years without activating the GLIR, you may incur a withdrawal charge. The amount of the charge depends on how long you’ve had the annuity and how much you withdraw.
Withdrawal charges: Year 1 Year 2
If you haven’t activated the GLIR: • Withdrawals in the first policy year are subject to a withdrawal charge. A Market Value Adjustment will apply to withdrawals in excess of the penalty-free withdrawal amount for the first 7 policy years. • After the first policy year, you may withdraw in any one year up to 10% of the accumulation value without incurring a withdrawal charge. • The minimum partial withdrawal you may request is $500, and your accumulation value must be not less than $5,000 after the withdrawal.
Year 3
Year 4
8.25% 8%
7%
6%
Year 5
Year 6
Year 7
5%
4%
3%
If you make a withdrawal before age 59½, you will be subject to a 10% federal income tax penalty unless you qualify under one of the exceptions provided by law. Some states charge a premium tax on annuities. A few states levy the tax when you pay a premium. Others charge it upon withdrawal or selection of a payment option. If we must pay this tax, we may deduct it from your policy benefits.
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Is this annuity the right choice for me? Income Driver 7 may be a good choice to grow your retirement savings while protecting your principal — and get a guaranteed lifetime income. I want to retire on my terms and not be dependent on the market. • Take advantage of stock market gains without worrying about losing a penny on your principal. I’m looking for a secure way to grow my retirement savings. • Choose between multiple index crediting strategies with strong growth potential (or a fixed rate account). • Increase your interest potential with Rate Booster. • Grow your retirement savings tax-deferred. • Spread index crediting over 12 months, using Dollar Cost Averaging. I’d like a predictable guaranteed lifetime income. • Know exactly how much you will receive when you activate the Guaranteed Lifetime Income Rider.
I may require access to my money. • Activate the Guaranteed Lifetime Income Rider at any time.
Without activating the GLIR, you can also: • Withdraw up to 10% of your accumulation value without a withdrawal charge, starting in year 2. 11 • Use the Nursing Care Rider or Terminal Illness Rider to access a portion of your accumulation value without a withdrawal charge if you become confined to a nursing care facility or are diagnosed with a terminal illness, starting in year 2. 12 • Use the Emergency Access Waiver to have all withdrawal charges waived for 403(b) hardship or 457(b) unforeseen emergency distributions, if approved by the Plan/TPA. For separation from service or disability, withdrawals up to 20% of the accumulation value in years 2-4, and all withdrawals starting in year 5, don’t incur a withdrawal charge. To use this waiver, the policy must have been in force for at least one year. 13
What Happens After I Die? With Income Driver 7, your named beneficiaries can avoid the expense, delay, and publicity of probate. If you are the Annuitant and you die while this annuity is in force, the full accumulation value will be paid to your beneficiary without withdrawal charges.
Other Information
Issue Ages:
45-85
Minimum Premium: Maximum Premiums:
$25,000
Ages 45-70: $2,000,000 Ages 71-75: $1,500,000 Ages 76-80: $1,000,000 Ages 81-85: $500,000 Higher amounts available with home office approval.
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Income Driver 7 indexed annuity, form series 20834(0123), or state variation thereof, Guaranteed Lifetime Income Riders form series 20835(0123), or state variation thereof, Nursing Care Rider form series Form No. 7648, Emergency Access Waiver rider, form series 20834(0123)EAW, and Terminal Illness Rider form series Form No. 7649, are issued by Life Insurance Company of the Southwest. This advertising material is used by multiple states, some with varying form number requirements; therefore, all required variations are provided. Not all policies or riders are available in all states – please check with your agent regarding availability in your state. This advertising is not approved for use in DE, ID, OK, OR, WY. “Standard & Poor's ® ”, “S&P ® ”, “S&P 500 ® ”, “Standard & Poor's 500”, and “500” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Life Insurance Company of the Southwest. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the product. The Global Balanced SG Index (the “Index”) is the exclusive property of SG Americas Securities, LLC (SG Americas Securities, LLC, together with its affiliates, “SG”). SG has contracted with [S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC] (“S&P”) to maintain and calculate the Index. “SG Americas Securities, LLC”, “SGAS”, “Société Générale”, “SG”, “Société Générale Indices”, “SGI”, and “Global Balanced SG Index” (collectively, the “SG Marks”) are trademarks or service marks of SG. SG has licensed use of the SG Marks to Life Insurance Company of the Southwest (“LICS”) for use in a fixed indexed annuity offered by LICS (the “Fixed Indexed Annuity”). SG's sole contractual relationship with LICS is to license the Index and the SG Marks to LICS. None of SG, S&P, or other third party licensor (collectively, the “Index Parties”) to SG is acting, or has been authorized to act, as an agent of LICS or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any Fixed Indexed Annuity or provided investment advice to LICS. No Index Party has passed on the legality or suitability of, or the accuracy or adequacy of the descriptions and disclosures relating to, the Fixed Indexed Annuity, including those disclosures with respect to the Index. The Index Parties make no representation whatsoever, whether express or implied, as to the advisability of purchasing, selling or holding any product linked to the Index, including the Fixed Indexed Annuity, or the ability of the Index to meet its stated objectives, including meeting its target volatility. The Index Parties have no obligation to, and will not, take the needs of LICS or any annuitant into consideration in determining, composing or calculating the Index. The selection of the Index as a crediting option under a Fixed Indexed Annuity does not obligate LICS or SG to invest annuity payments in the components of the Index. THE INDEX PARTIES MAKE NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER EXPRESS OR IMPLIED, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES (INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE), WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN OR RELATING THERETO, AND IN PARTICULAR DISCLAIM ANY GUARANTEE OR WARRANTY EITHER AS TO THE QUALITY, ACCURACY, TIMELINESS AND/OR COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN, THE RESULTS OBTAINED FROM THE USE OF THE INDEX AND/OR THE CALCULATION OR COMPOSITION OF THE INDEX, OR CALCULATIONS MADE WITH RESPECT TO ANY FIXED INDEXED ANNUITY AT ANY PARTICULAR TIME ON ANY PARTICULAR DATE OR OTHERWISE. THE INDEX PARTIES SHALL NOT BE LIABLE (WHETHER IN NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY ERROR OR OMISSION IN THE INDEX OR IN THE CALCULATION OF THE INDEX, AND THE INDEX PARTIES ARE UNDER NO OBLIGATION TO ADVISE ANY PERSON OF ANY ERROR THEREIN, OR FOR ANY INTERRUPTION IN THE CALCULATION OF THE INDEX. NO INDEX PARTY SHALL HAVE ANY LIABILITY TO ANY PARTY FOR ANY ACT OR FAILURE TO ACT BY THE INDEX PARTIES IN CONNECTION WITH THE DETERMINATION, ADJUSTMENT OR MAINTENANCE OF THE INDEX. WITHOUT LIMITING THE FOREGOING, IN NO EVENT SHALL AN INDEX PARTY HAVE ANY LIABILITY FOR ANY DIRECT DAMAGES, LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. No Index Party is a fiduciary or agent of any purchaser, seller or holder of a Fixed Indexed Annuity. None of SG, S&P, or any third party licensor shall have any liability with respect to the Fixed Indexed Annuity in which an interest crediting option is based is on the Index, nor for any loss relating to the Fixed Indexed Annuity, whether arising directly or indirectly from the use of the Index, its methodology, any SG Mark or otherwise. Obligations to make payments under the Fixed Indexed Annuities are solely the obligation of LICS. In calculating the performance of the Index, SG deducts a maintenance fee of 0.50% per annum on the level of the Index, and fixed transaction and replication costs, each calculated and deducted on a daily basis. The transaction and replication costs cover, among other things, rebalancing and replication costs. The total amount of transaction and replication costs is not predictable and will depend on a number of factors, including the leverage of the Index, which may be as high as 200%, the performance of the indexes underlying the Index, market conditions and the changes in the market states, among other factors. The transaction and replication costs, which are increased by the Index's leverage, and the maintenance fee will reduce the potential positive change in the Index and increase the potential negative change in the Index. While the volatility control applied by the Index may result in less fluctuation in rates of return as compared to indices without volatility controls, it may also reduce the overall rate of return as compared to products not subject to volatility controls. The PIMCO US Fundamental Balanced Index (the “Index”) is a trademark of Pacific Investment Management Company LLC (“PIMCO”) and has been licensed for use for certain purposes by National Life Insurance Company (the “Company”) with respect to this annuity (“the Product”). The Index is the exclusive property of PIMCO and is made and compiled without regard to the needs, including, but not limited to, the suitability, appropriateness or needs, as applicable, of the Company, the Product, or any Product owners. The Product is not sold, sponsored, endorsed or promoted by PIMCO or any other party involved in, or related to, making or compiling the Index. It is not possible to directly invest in the Index. PIMCO does not make any warranty or representation as to the accuracy, completeness, or availability of the Index or information included in the Index and shall have no responsibility or liability for the impact of any inaccuracy, incompleteness, or unavailability of the Index or such information. Neither PIMCO nor any other party involved in, or related to, making or compiling the Index makes any representation or warranty, express or implied, to the Product owner, the Company, or any member of the public regarding the advisability of purchasing annuities generally or the Product particularly, the legality of the Product under applicable federal or state securities, state insurance and any tax laws, the ability of the Product to track the performance of the Index, any other index or benchmark or general fixed income market or other asset class performance, or the results, including, but not limited to, performance results, to be obtained by the Company, the Product, Product owners, or any other person or entity. PIMCO does not provide investment advice to the Company with respect to the Product, to the Product, or to Product owners. Neither PIMCO nor any other party involved in, or related to, making or compiling the Index has any obligation to continue to provide the Index to the Company with respect to the Product. Neither PIMCO nor any other party involved in, or related to, making or compiling the Index makes any representation regarding the Index, Index information, performance, annuities generally or the Product particularly. PIMCO disclaims all warranties, express or implied, including all warranties of merchantability or fitness for a particular purpose or use. PIMCO shall have no responsibility or liability with respect to the Product. The Index is comprised of a number of constituents, some of which are owned by entities other than PIMCO. The Index relies on a variety of publicly available data and information and licensable equity and fixed income sub-indices. All disclaimers referenced in herein relative to PIMCO also apply separately to those entities that are owners of the constituents of the PIMCO Index and to the Index Calculation Agent.
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What Makes National Life Group Better? Our products, services, and long history of supporting retirement plans.
National Life Strength When it comes to achieving your retirement, financial strength matters. And our history of making good on our promises for more than 175 years means peace of mind for every policy. #1 provider of Indexed Annuities in Employer Plans 14 Longest Standing Issuer of Indexed Annuities 15 Financial Strength Ratings 16 A+ (Superior) A+ (Strong) A1 (Good)
BY A.M. BEST Second highest of 16 rankings
BY STANDARD & POOR’S Fifth highest of 21 rankings
BY MOODY’S Fifth highest of 21 rankings
1. Retirement Information for Medicare Beneficiaries, January 2023. https://www.ssa.gov/pubs/EN-05-10529.pdf 2. The Standard GLIR has a charge of 1% of the benefit base, deducted from the accumulated value annually. 3. Indexed annuities do not directly participate in any stock or equity investments. 4. Cap and participation rates may change from year to year. They are declared annually, at the beginning of each policy year. 5. Assumes $100,000 growing at 3% interest and a 25% tax bracket. This is a hypothetical example for illustrative purposes only and does not represent the actual results of any particular financial product. 6. Insurance News Net, FIAs at Age 20, 2015 7. Assuming no withdrawals during the withdrawal charge period. Rider charges continue to be deducted regardless of whether interest is credited. 8. Time Magazine, October 7, 2008. Not intended as a current statistic, this is included for historical perspective. 9. Fortune, “Commentary: What’s Next for the Stock Market”, 2/13/2018. Not intended as a current statistic, this is included for historical perspective. 10. Market Insider March 12, 2020 - Stock Market Erased $6 Trillion in Wealth Last Week. 11. If permitted by the IRS. All withdrawals made from annuities with pre-tax contributions are taxed as ordinary income. All withdrawals from an annuity purchased with non-qualified monies are taxable as ordinary income only to the extent there is a gain in the policy. In addition, withdrawals prior to age 59½ may be subject to a 10% Federal Tax Penalty. You will still incur a bonus recapture charge, based on how long you’ve had the annuity and how much you withdraw. 12. See your policy for full details. 13. The Market Value Adjustment is waived for Emergency Access Waiver benefits. See your policy for full details. 14. LIMRA US Individual Annuity Industry Sales Report, 1Q2023 15. Insurance News Net, FIAs at Age 20, 2015 16. Financial strength ratings for Life Insurance Company of the Southwest as of 01/18/2024. Ratings are subject to change.
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