CUSIP Number:
468495585
CUSIP Name:
8 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
13 Feb 2006
Close Date:
CUSIP Note:
Scrap Book:
The Elite Choice Rewards 8 is a single premium deferred index annuity. The minimum single premium is $5,000 for qualified and $10,000 for non-qualified money. 10% of the accumulated value may be withdrawn each policy year without a surrender charge. Systematic Withdrawal is an option. Surrender charges vary by issue age and state and are waived in the event of annuitization death, entrance into a hospital or nursing home, or diagnosis of a terminal illness. Recapture charges apply for five years to surrenders in excess of the free withdrawal or extended care provisions or upon death, but are not applied on withdrawals of less than 10% under the free withdrawal provision, the Extended Care Benefit, or the Terminal Illness Benefit. 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:
22 Sep 2023 07:38