Product Features REQUIRED MINIMUM DISTRIBUTION WAIVER
Once you reach age 72, the federal government requires you to withdraw a percentage of your taxable income from any qualified retirement accounts, including annuities purchased with pre-tax dollars. To help you satisfy this requirement, during the first policy year the Required Minimum Distribution (RMD) may be withdrawn and no Market Value Adjustment, Surrender Charge, or loss of non-vested premium bonus will apply. After the first policy year, the total amount that may be withdrawn as free withdrawals is the greater of the RMD or 10% of the Initial Purchase Premium and Subsequent Purchase Premiums.
TERMINAL ILLNESS AND NURSING HOME WAIVER
There may be certain life-altering situations where you need access to all of your money, such as being diagnosed with a terminal illness or confined to a nursing home. If this does happen, you can make a full surrender or partial withdrawal with no Market Value Adjustment, Surrender Charge, or loss of any applicable non-vested premium bonus under certain conditions*. The Guaranteed Income Annuity has a 2.75% guaranteed minimum interest rate 7 that benefits the Legacy Benefit Rider and Accumulation Benefit Rider accounts, in addition to the Accumulation Account. With the 2.75% guaranteed minimum interest rate, the interest credited to the Legacy Benefit Base is guaranteed to be at least 6.75% (2.75% + 4%). With the Accumulation Benefit Rider, the interest credited to the Benefit Base is guaranteed to be at least 4.8% (2.75% x 175%). These minimums are guaranteed for the life of the policy 7 and protect against SOFR decreasing in the future. 2.75% MINIMUM INTEREST RATE GUARANTEE Sometimes you need access to some of your money earlier than you were expecting. Some annuities do not offer free early withdrawals, but the Guaranteed Income Annuity allows you to withdraw up to 10% of the Purchase Premium after the first contract year*. If the unexpected occurs, you will have access to your funds. 10% ANNUAL WITHDRAWAL This is a modified single premium annuity, meaning that you are able to add additional premiums during the first 12 months of the contract. On top of that, the additional premiums will also earn a bonus! ADDITIONAL FIRST YEAR PREMIUMS
PREMIUM AND ACCOUNT BONUSES
A one-time bonus will be credited to the Account Values and respective Benefit Bases for both the Accumulation Benefit Rider and the Legacy Benefit Riders. A one-time bonus will be credited to the GLWB Income Account with the GLWB Benefit Rider. Bonuses vary by age and are subject to vesting.
Guaranteed Lifetime Withdrawal Benefit Rider
Legacy Benefit Rider
Accumulation Benefit Rider
10 Yrs
10 Yrs
10 Yrs
Surrender Period
Below Age 71
11% 11% 11%
10%
10%
5% 3%
8% 6%
Age 71-80 Age 81-85
7 For Policy Contracts issued in 2023. *See the disclaimer page for more information.
7
ACLGIABR-OT 062523
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