CUSIP Number:
018815324
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
13 Oct 2014
Close Date:
CUSIP Note:
Scrap Book:
Essential Income 7 is a limited flexible premium deferred fixed indexed annuity with a market value adjustment. The minimum single premium is $10,000 for non-qualified and qualified money. Additional contributions are accepted within the first contract year. After the first contract year, 10% of contract's paid premium may be withdrawn without withdrawal charges or MVA. Surrender charges are 7 years in duration and are waived in the event of death, or entrance into an eligible nursing home, hospital or assisted living care facility. The Flexible Annuity Option and Alternate Annuity Option III are also available at no fees. The Essential Benefit rider provides guaranteed lifetime income withdrawals at additional cost. 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 12:18