CUSIP Number:
29460L543
CUSIP Name:
10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
06 Aug 2025
Close Date:
CUSIP Note:
Scrap Book:
The SmartBoost Index is a single premium fixed deferred annuity with a market value adjustment (MVA), designed to provide growth potential and income flexibility. It requires a minimum premium of $10,000, applicable to both qualified and non-qualified funds. Starting in the second contract year, the annuity allows for annual withdrawals of up to 7% of the initial premium without incurring surrender charges or MVA. Systematic withdrawals are also available after the first year. The product includes a surrender charge schedule lasting seven years, though this may vary by state. These charges may be waived in the event of annuitization, death, confinement to a nursing home or hospital, or a terminal illness diagnosis. The MVA feature is not available in all states. A Guaranteed Enhanced Accumulation Value (GEAV) rider is available to further boost accumulation potential. 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:
05 Aug 2025 13:21