CUSIP Number:
449815760
CUSIP Name:
5, 6, 7, and 10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The MarketSmart is a single premium deferred equity indexed annuity. The minimum initial contribution is $5,000 for qualified and non-qualified funds. 10% of the accumulated value may be withdrawn annually. Systematic Withdrawal is an option. Surrender charges vary based on rate term chosen and are waived in the event of annuitization, death, entrance into a nursing home or hospital, or diagnosis of a terminal illness. There is a 30-day window at the end of each guarantee period that allows access to part or all of the accumulated funds. Surrender charge variations: UT- surrender charges will not reset upon renewal; CT and NJ - surrender charges will not reset upon renewal and will only apply to a percentage of the total amount withdrawn in a contract year that exceeds the penalty free withdrawal amount; AL and MD - surrender charges reset upon renewal and will only apply to a percentage of the total amount withdrawn in a contract year that exceeds the penalty free withdrawal amount. Withdrawals may result in federal income tax, and a 10% IRS penalty tax prior to age 59 1/2. Products / features may not be available in all states.
Last Modified:
02 Aug 2023 07:43