CUSIP Number:
34628V524
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Choice Accumulation 7 is a single premium deferred annuity with a market value adjustment. The minimum single premium is $25,000 for qualified and non-qualified money. 10% of the beginning-of-year contract value may be withdrawn annually without incurring a surrender charge or MVA. Surrender charges are seven years in duration (9,8,7,6,5,4,3) and are waived in the event of death, entrance into a nursing home or diagnosis of a terminal illness. There is a Guaranteed Minimum Accumulation Value which can provide an increase to the contract value. 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:
28 Aug 2023 11:52