CUSIP Number:
597610724
CUSIP Name:
8 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
28 Jan 2020
Close Date:
CUSIP Note:
Scrap Book:
The LiveWell Preferred FIA 8-Year is a flexible premium deferred index annuity with a market value adjustment. The minimum single premium is $10,000 for non-qualified and qualified money. During the first Contract Year the Penalty-Free Surrender Amount available is limited to applicable Rider Charges. Each Contract Year after the first Contract Year a Penalty-Free Surrender is available up to 10% of the last Contract Anniversary Accumulation Value or RMD if greater, plus any applicable Rider Charges. Surrender charges are 8 years in duration and are waived in the event of death or entrance into a nursing home. There is an optional Guaranteed Lifetime Withdrawal Benefit (GLWB) available at an additional cost which offers a lifetime payment amount that provides guaranteed lifetime income (ages 45 - 80). There is also an optional Guaranteed Minimum Death Benefit (GMDB) Rider available at contract issue. 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 11:04