CUSIP Number:
34628V516
CUSIP Name:
10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Income 150+ is a single premium deferred annuity with a market value adjustment. The minimum single premium is $10,000 for qualified and non-qualified money. 10% of the contract value is available for withdrawal after the first contract year with no surrender charge or MVA. Surrender charges are ten years in duration (10,10,9,9,8,7,6,5,4,2) and are waived in the event of death, entrance into a nursing home or diagnosis of a terminal illness. The Guaranteed Lifetime Income Benefit Plus is an optional rider which, if elected at an extra cost, provides lifetime withdrawals without annuitizing the contract, provided the withdrawals begin after a certain age and do not exceed a certain amount annually. There is also an income bonus which may be provided if no income election has been made and a Plus(+) feature whereby an additional bonus may be credited if income benefits haven't started within nine years (eligibility requirements must be met). State variations may apply. 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:
01 Aug 2023 06:54