CUSIP Number:
449817139
CUSIP Name:
6 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
03 Jan 2011
Close Date:
CUSIP Note:
Scrap Book:
The ING Envoy Six is a flexible premium deferred fixed index annuity with a market value adjustment. The minimum initial contribution is $10,000 for qualified and non-qualified funds. Additional premium payments can be made for a minimum of $5,000 and are credited with their own separate interest rate, index cap and participation rate for their own indexing period. 10% of the accumulated value may be withdrawn annually without surrender charges or a market value adjustment. Systematic Withdrawal is an option. There are nine years of surrender charges (9,9,9,9,8,7,6,5,4) which may be waived in the event of annuitization, death, entrance into a nursing home or hospital. The ING IncomeProtector Withdrawal Benefit is an optional rider which, if elected for an additional cost, guarantees an annual withdrawal amount up to a percentage of the Minimum Guaranteed Withdrawal Benefit Base (MGWB Base) per year. Available after the first policy year, payments are guaranteed for the life of the annuitant. Must be between 50 and 80 years of age at issue. There is a 30-day window at the end of the guarantee period in which all or part of the accumulated funds may be withdrawn without a surrender charge or market value adjustment. Withdrawals may result in federal income tax and an additional 10% IRS penalty tax prior to age 59 ½.
Last Modified:
05 Sep 2023 07:36