Options for accessing funds Penalty-free withdrawals
In all states but Florida:
MNL IndexBuilder 10 allows you to access a portion of funds each year without incurring a surrender charge and Market Value Adjustment (MVA). Starting in the second contract year, you may choose to take a penalty-free withdrawal of up to 10% of the accumulation value annually. Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may be subject to additional IRS penalties for early withdrawal. Nursing home confinement waiver (not available in MA) After the first contract anniversary, if you are confined to a qualified nursing care center as defined in the rider (skilled nursing facility or residential care facility for the elderly in CA), you may withdraw up to 100% of your accumulation value without a surrender charge, MVA, or premium bonus recapture as long as you meet the eligibility requirements for this rider. If you withdraw 100% of your accumulation value, your contract and any applicable riders will terminate. This rider is automatically included with your annuity at no additional charge. Refer to the rider for additional details, including benefit terms, conditions, and limitations. Market value adjustment (MVA) with external index (state variations exist) Your contract also includes a market value adjustment feature – which may decrease or increase your surrender value depending on the change in the market value adjustment external index rate since your annuity purchase. Market value adjustments are applied only during the surrender charge period to surrenders in excess of the penalty-free amount. See the “Understanding the market value adjustment” brochure for more information. 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 (state variations may exist). See the following table for available 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
For Florida: You may select an annuity payout option based on the accumulation value at any time after the first
contract year. Choose from:
• Life income • Life income with a 10- or 20-year period certain • Joint and survivor life income • Joint and survivor life income with a 10- or 20-year period certain
29720Y-1
5
REV 12-23
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