Allstate ChoiceRate Annuity NY
Status:
Active
Group:
Prudential
Product Type:
Fixed Annuity
Product Status:
Approved
Version:
0
Inception Date:
July 05, 2005
Closed Date:
October 01, 2010
Last Modified:
March 26, 2025 00:00
Description:
The Allstate ChoiceRate Annuity NY is a single premium deferred fixed annuity with a market value adjustment. The minimum premium is $10,000 for qualified and non-qualified funds. There is a 10% annual free withdrawal of accumulated value. Systematic withdrawals are also an option. Surrender charges are seven years in length (7,6,5,4,3,2,1) and are waived in the event of death, entrance into a nursing home or hospital, unemployment, or diagnosis of a terminal illness. There is a 45-day window at the end of each guarantee period that allows access to part or all of the accumulated funds without surrender charges or MVA. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Fee Based:
No
Free Look:
Yes
Plan Types:
457 (b), 401 (k), HR-10 (Keogh), 403 (b), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Spousal IRA, Others, 401 (a)
Premium Types:
Single
States Available:
NY
States Exception:
AK, AL, AR, AZ, BERMUDA, CA, CO, CT, DC, DE, FL, GA, GU, HI, IA, ID, IL, KS, KY, IN, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
Version Note:
Scrap Book: