CUSIP Number:
597637131
CUSIP Name:
10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Summit Edge 10 is a flexible premium index annuity with a market value adjustment. The minimum single premium is $20,000 for non-qualified and $5,000 for qualified money. Additional contributions can be made for $25 or more. 10% of the accumulation value may be withdrawn after the first policy year without a withdrawal charge or MVA. Surrender charges are ten years in duration, may vary as per state availability and are waived in the event of annuitization after the fifth policy year, death, or entrance into a nursing home. 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 06:23