CUSIP Number:
018815878
CUSIP Name:
No CDSC
Product Policy Type:
Indexed Annuity
Inception Date:
22 Jan 2008
Close Date:
CUSIP Note:
Scrap Book:
The MasterDex 10 Plus is a limited flexible premium deferred index annuity. The minimum single premium is $15,000 for qualified and non-qualified money. Additional contributions can be made for $25 or more during the first five policy years only. 10% of the paid premium can be withdrawn after the first contract year. Systematic Withdrawal is an option. There are no surrender charges if the policy is held for a minimum of five years and a payout is taken over a minimum of ten years. The Flexible Annuity Option Rider allows the withdrawal of accumulation value (less any bonus or interest earned on the bonus) anytime after the first contract year for a period certain of 10 to 30 years. The Flexible Withdrawal Rider is an optional rider which, if elected at an extra cost, allows access to a one-time lump-sum payment in any amount up to the accumulation value if admitted to a nursing home, hospital, or assisted living care facility for at least 30 out of 35 consecutive days. A nursing home / hospital benefit and unemployment benefit are also options. 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. 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
Last Modified:
21 Sep 2023 12:23