CUSIP Number:
38983V334
CUSIP Name:
Non-MVA Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The AssuranceSelect 7 Plus (V2) is a modified premium deferred index annuity. The minimum single premium is $10,000 for qualified and non-qualified money. Additional contributions can be made for at least $2,000 during the first 10 contract years. During the first contract year, 10% of purchase payments may be withdrawn without an early withdrawal charge. After the first contract year, 10% of the sum of the account value as of the most recent contract anniversary and all purchase payments received since the most recent contract anniversary may be withdrawn without an early withdrawal charge. Systematic Withdrawal is an option. Surrender charges are 7 years in duration and are waived in the event of annuitization, death, entrance into a nursing home, or diagnosis of a terminal illness. There is a Guaranteed income rider (IncomeSecure) and an optional guaranteed death benefit rider (Inheritance Enhancer). 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:
27 Jan 2025 10:42