CUSIP Number:
597637388
CUSIP Name:
3 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
14 Jun 2022
Close Date:
CUSIP Note:
Scrap Book:
The Summit Focus 3 is a single premium deferred fixed index annuity with a market value adjustment. The minimum single premium is $25,000 for qualified and non-qualified money. 5% of the accumulated value may be withdrawn from the first contract year without incurring any surrender charges or MVA. Surrender charges are 3 years in duration and are waived in the event of death and entrance into a nursing home. MVA is waived in the event of annuitization, death and 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% IRS penalty. Guarantees based on claims paying ability of insurer. Products/features may not be available in all states.
Last Modified:
20 Sep 2023 06:38