CUSIP Number:
018817288
CUSIP Name:
No CDSC
Product Policy Type:
Indexed Annuity
Inception Date:
03 Feb 2004
Close Date:
CUSIP Note:
Scrap Book:
The 10% Bonus Power Dex Elite is a limited flexible premium deferred index annuity. The minimum single premium is $5,000 for non-qualified $2,000 for qualified funds. Additional contributions can be made for $25 or more during the first five years only. There is a 5% cumulative withdrawal of the contract value available 12 months after the last premium has been added, up to 25% of the premiums received. Systematic Withdrawal is an option starting in year six. 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. There is an optional death benefit rider available for non-qualified policies where the owner and annuitant are the same individual and enables the beneficiary to receive up to 28% of the contracts gain. A charge for this rider does apply. A nursing home / hospital benefit is also an option. 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.
Last Modified:
22 Sep 2023 07:56