401(k) FPDA
Status:
Active
Group:
Company:
Presidential Life Insurance Company
Product Type:
Fixed Annuity
Product Status:
Draft
Version:
0
Inception Date:
February 01, 2003
Closed Date:
March 01, 2013
Last Modified:
Description:
401(k) FPDA is a Flexible Premium Deferred Annuity, annuitant driven contract. The minimum initial contribution is $120 annually or $25 monthly. Additional contributions can be made for at least $25 monthly. There is a loan option available with an annual loan interest rate of 5%. Each loan must be repaid within 5 years with a minimum quarterly payment of at least $25. Systematic withdrawals are an option. Surrender charges are nine years in length and are waived in the event of annuitant's death. The current interest rate is guaranteed on a calendar year basis.
Fee Based:
No
Free Look:
Yes
Plan Types:
401 (k)
Premium Types:
Flexible
States Available:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, KS, KY, IN, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NJ, NM, NV, NY, OH, OK, PA, RI, SC, SD, TN, TX, UT, VA, VT, WI, WV, WY
States Exception:
BERMUDA, GU, NH, OR, PR, VI, WA
Version Note:
Scrap Book: