CUSIP Number:
638512251
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The NWL Impact 7 is a flexible premium deferred index annuity. The minimum single premium is $2,000 for qualified and $5,000 non-qualified money. Additional contributions can be made for $100 or more. 10% of the purchase payment may be withdrawn after the first policy year and interest earned may be withdrawn during the first policy year without incurring a surrender charge. Systematic Withdrawal and RMDs are an option. Surrender charges are seven years in duration (10,10,10,9,8,7,6) and are waived in the event of medical stay, or diagnosis of a terminal illness. There are two optional riders available for an additional cost. 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. Early surrender charges may also apply. 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:
11 Oct 2024 07:45