CUSIP Number:
597637115
CUSIP Name:
5 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
26 Jun 2018
Close Date:
CUSIP Note:
Scrap Book:
The Summit Edge 5 is a flexible premium deferred index annuity with a market value adjustment. The minimum flexible premium is $20,000 for non-qualified and $5,000 qualified money. 10% of the accumulated value may be withdrawn after the first contract year without incurring any surrender charges or MVA. Surrender charges are five years in duration which vary by states and are waived in the event of annuitization, death or entrance into a nursing home. 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 the claims-paying ability of the 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:
15 Jul 2025 06:24