CUSIP Number:
45813X133
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
29 Sep 2014
Close Date:
CUSIP Note:
Scrap Book:
The Indextra 7-year is a single premium deferred annuity. Available for owners and annuitants age 18-85 years. The minimum single premium is $15,000 for qualified and non-qualified money. Total maximum contribution is $1 million for owners/annuitant age between 18-75 and $750,000 for owners/annuitant age between 76-85. 10% of the total purchase payments, less withdrawals, are available in the first contract year with no surrender charge. Surrender charges are 7 years in duration (may vary with state availability); and are waived in the event of annuitization after the second policy year (first policy year in FL), death, entrance into a nursing home or hospital, or Limited Life Expectancy. There is an optional GLWB available which, if elected at an extra cost, guarantees withdrawals for the life of the covered person or persons (owner and spouse if the spousal GLWB is elected) regardless of account value, provided the voluntary reductions are limited to the annual lifetime payment amount. 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:
27 Jan 2025 10:30