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CUSIP Basic Info

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CUSIP Note

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The SingleMax Ten is a single premium deferred index annuity with a market value adjustment (MVA). The minimum single premium is $25,000 for qualified and non-qualified money.  10% of the purchase payment may be withdrawn during the first policy year and 10% of the account value as of the prior anniversary may be withdrawn after the first policy year without a surrender charge. Surrender charges are ten years in duration (10,9,8,7,6,5,4,3,2,1) and are waived in the event of annuitization, death, entrance into a nursing home, or diagnosis of a terminal illness. There is an optional guaranteed withdrawal benefit rider, which, if elected at an extra cost, provides a single lifetime income,  joint lifetime income, and fixed percentage income (Income Sustainer) and is based on the age at the time of the first benefit withdrawal multiplied by the benefit base amount (the account value increased by rollup credits and additional purchase payments, and decreased for withdrawals).  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.

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CUSIP Basic Info

Contribution / Waiver / Withdrawal