CUSIP Number:
018815274
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
18 Nov 2013
Close Date:
CUSIP Note:
Scrap Book:
The Signature 7 is a limited flexible premium deferred index annuity. The minimum single premium is $20,000 for qualified and non-qualified money. Additional premium payments can be made for $25 or more during the first three contract years only. 10% of the paid premium may be withdrawn in any contract year no premium is paid. Surrender charges are seven years in duration (8.5,8,7,6,5,4,3) and are waived in the event of annuitization, death, or entrance into an eligible nursing home (if the Flexible Withdrawal Rider is purchased). The Flexible Annuity Option Rider allows the withdrawal of accumulation value anytime after the first contract year for a period certain of 10 to 30 years. The Flexible Withdrawal Rider is an optional additional cost rider which allows access to a one-time lump-sum payment in any amount up to the accumulation value if admitted to an eligible nursing home, hospital, or assisted living care facility for at least 30 out of 35 consecutive days. An additional nursing home / hospital benefit is also an option at no 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. C54370.
Last Modified:
21 Sep 2023 12:48