Crediting method features and details
Unlock greater upside potential with enhanced crediting methods In exchange for a strategy charge, you’ll unlock a greater upside potential. The charge is deducted from your accumulation value once each term and is guaranteed to stay the same for the life of the contract. It will be deducted at the time of a partial withdrawal that exceeds the penalty- free withdrawal amount or the end of the term. The strategy charge will be deducted regardless of the interest credited to accumulation value (“AV”) true-up 2 If interest credited over your contract term is less than the total strategy charges, there could be a loss of premium. To help protect your premium, your MNL IndexBuilder 10 fixed index annuity includes AV true-up. The AV true-up provides a one-time refund at the end of the surrender charge period of the difference between total interest credited and strategy charges since issue, if any. This benefit is not available if you take excess penalty-free withdrawals. 2. Known as guaranteed accumulation value true-up endorsement in your contract. Annual and two-year reset the contract and can lead to loss of premium. Experience protection with One advantage of fixed index annuities is a reset feature, which applies to this annuity no matter which crediting method you choose. The annual and two-year resets allow an interest credit, if any, to be added to the index account at the end of each index term. That amount, when added, becomes “locked in” because it cannot be taken away due to negative index performance. The “locked-in” interest credit will be added to the accumulation value, giving you the advantage of compounding in subsequent years. This feature also resets your starting index point each new index term. Annual and two-year reset can be a benefit when the index experiences a severe downturn during the term because at the beginning of the next term, you can take advantage of any gains from that point forward. Without this feature, you would have to wait for the index to climb to its original level before any gains could be realized. How transfers work You may elect to transfer funds between the fixed account and index account options annually after the first contract year for the annual index strategies (or every two years if you choose the Two-year Point to-Point strategies). Based on current tax laws, these transfers between options will not be taxable or subject to surrender penalties.
29720Y-1
9
REV 12-23
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