CUSIP Number:
597610583
CUSIP Name:
12 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The North American Performance Choice 12 is a flexible premium deferred index annuity with a market value adjustment. The minimum single premium is $20,000 for qualified and non-qualified money. Additional contributions can be made for $25 or more. 10% of the accumulation value may be withdrawn once per year without a withdrawal charge or MVA. Surrender charges are twelve years in duration (10,10,10,10,10,9,8,7,6,5,4,2), and are waived in the event of annuitization after the first policy year, death, or entrance into a nursing home. State variations may apply. There is an optional GLWB available: Income Pay Plus. 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:
31 Jul 2023 12:38