CUSIP Number:
34628V581
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
27 Aug 2018
Close Date:
CUSIP Note:
Scrap Book:
The ForeIncome II 7-Year 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single premium is $25,000 for qualified and non-qualified money. 10% of the beginning-of-year contract value may be withdrawn annually without incurring a surrender charge or MVA.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 7 years in duration (may vary with state availability); and are waived in the event of death, entrance into a nursing home or diagnosis of a terminal illness. There is a Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider included at issue to ages 50 or more that modifies the contract withdrawal provisions to allow the owner to withdraw a lifetime annual payment (LAP) without a withdrawal charge or MVA. Income cannot be activated until age 55, but the benefit is included at issue for those individuals that open contracts between the ages of 45-54. 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:
02 Mar 2026 09:19