CUSIP Number:
597637461
CUSIP Name:
7-Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
27 Jan 2026
Close Date:
CUSIP Note:
Scrap Book:
The Summit Laddered FIA 7-year is a single premium deferred index annuity with a market value adjustment. The minimum single premium is $20,000 for qualified and non-qualified money. 10% of the accumulated value may be withdrawn after the first contract year without incurring any surrender charges or MVA.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 7 years in duration and are waived in the event of 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 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 2026 13:18