Disclaimers and Definitions Annuity Guarantees - Annuity guarantees rely on the financial strength and claims-paying ability of Atlantic Coast Life Insurance Company. Annuity Differences - Some annuities offer lifetime income as a part of the base contract, and others may offer riders for a charge that provides that benefit. If lifetime income is elected through annuitization on the base contract, the elected rider will terminate, including any benefits provided by the rider. Penalty Free Withdrawal - Up to 10% of the purchase premium may be withdrawn without any surrender charges, market value adjustment, or forfeiture of any applicable premium bonus starting in year two. The Required Minimum Distribution may be withdrawn without any surrender charges, market value adjustment, or forfeiture of any applicable premium bonus starting in year one. Any distribution may impact future Guaranteed Lifetime Withdrawal Benefit payments. Market Value Adjustments - The Market Value Adjustment (MVA) is specified in the contract. The MVA expires at the end of the Surrender Charge Period. Terminal Illness Waiver - Terminal illness is defined as any medical condition which a physician certifies that the policy owner’s expected life span is twelve months or less. Proof of the terminal illness is required by a certified licensed physician that is not the owner, annuitant, or a family member to the owner or annuitant. The owner cannot be terminally ill during the waiting period. There is a waiting period of either one or two years, depending on which state the contract is issued. Nursing Home Waiver - Must be confined to a nursing home for a period of at least 90 consecutive days. There is a waiting period of either one or two years, depending on the state contract is issued. If the owner is confined to a nursing home during the waiting period, this benefit would not be available in certain states. Home Healthcare Increase Benefit - At time of issue, owner(s) must be able to do all 6 ADLs, which are: •Bathing •Transferring •Continence •Dressing •Toileting •Eating To qualify for the benefit, must have a doctor’s statement that any owner is unable to perform 2 out of 6 ADLs. There is a waiting period of 2 years after issue before the benefit can be requested. Benefit can only be applied once. Increase is available for up to 5 years. Account value must be greater than zero. See the Accumulation Benefit Rider & Guaranteed Lifetime Withdrawal Benefit Rider Inserts for more information. Rider Fees - If you elect the Guaranteed Lifetime Withdrawal Benefit Rider, there is an annual fee on each contract anniversary of 1.25% for years 1-5 and 1.60% for years 6-10 multiplied by the Income Account Value and reduced from your account value. If you elect the Legacy Benefit Rider, there is an annual fee on each contract anniversary of 1.25% for years 1-5 and 1.60% for years 6-10 multiplied by the Legacy Benefit Base and reduced from your account value. If you elect the Accumulation Benefit Rider, there is no fee. Renewal Periods - During any Renewal Roll-up Period, the Income Account Value Interest Rate, Legacy Benefit Base Interest Rate, Benefit Base Interest Rates, and rider fees may change. Premium Bonus - Bonus annuities may carry higher fees and charges than annuities without the bonus feature, may only accumulate interest prior to annuitization, and may not pay the bonus in case of early withdrawal. Premium Bonus is subject to the following vesting schedules:
1
2
3
4
5 6 7
8
9 10 11+
Policy Year
10-Year
Vesting
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Surrender Value - The Surrender Value is subject to Surrender Charges, Market Value Adjustment (MVA), Premium Bonus Vesting, and Minimum Guarantee Surrender Value required by Standard Non-Forfeiture Law. Surrender Charges are calculated according to the following schedule:
Policy Year Surrender Charge
1
2
3
4
5 6
7
8
9 10 11+
10-Year
10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%
The Secured Overnight Financing Rate (SOFR) data is calculated by using data obtained under license through application programming interface (API) issued by CME Group. CME GROUP MARKET DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN ATLANTIC COAST LIFE INSURANCE COMPANY PRODUCTS. CME GROUP HAS NO OTHER CONNECTION TO ATLANTIC COAST LIFE INSURANCE PRODUCTS AND SERVICES AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY ATLANTIC COAST LIFE INSURANCE COMPANY PRODUCTS OR SERVICES. CME GROUP HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH ATLANTIC COAST LIFE INSURANCE PRODUCTS AND SERVICES. CME GROUP DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO ATLANTIC COAST LIFE INSURANCE AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CME GROUP AND ATLANTIC COAST LIFE INSURANCE COMPANY. Policy Series ICC17-ACLFLEXPBAN, ICC17-ACLFLEXNBAN, ICC17-ACLFLEXACCUM17, ACLFLEXACCUM17-XX, ICC17-ACLFLEXGLWB17, ACLFLEXGLWB17-XX, ICC17-ACLFLEXLB17, ACLFLEXLB17-XX
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ACLGIABR-OT 062523
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