Allstate Treasury-Linked Annuity II
Status:
Active
Group:
Everlake
Company:
Everlake Life Insurance Company
Product Type:
Fixed Annuity
Product Status:
Approved
Version:
0
Inception Date:
October 08, 2007
Closed Date:
April 01, 2009
Last Modified:
October 22, 2024 00:00
Description:
The Allstate Treasury-Linked Annuity II is a single premium deferred fixed annuity that provides a guaranteed five-year rate plus the unique ability to earn additional interest based upon the performance of the two-year U.S. Treasury rate. 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 10 years in duration (9,8,8,7,6,5,4,3,2,1) and are waived in most states in the event of death, entrance into a nursing home or hospital, unemployment, inability to perform two or more defined ADL, or diagnosis of a terminal illness. There are two optional riders, which can be added at issue: Lifetime Income Rider and Enhanced Lifetime Income Rider. The Free Look period varies by state. 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), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Spousal IRA, Others
Premium Types:
Single
States Available:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, GU, HI, IA, ID, IL, KS, KY, IN, LA, MA, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NM, OH, OK, PA, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
States Exception:
BERMUDA, MD, NJ, NV, NY, OR, PR
Version Note:
Scrap Book: