CUSIP Number:
656803152
CUSIP Name:
10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The NAC BenefitSolutions 10 is a single premium deferred index annuity with a market value adjustment. The minimum single premium is $20,000 for non-qualified and qualified money. After the first contract anniversary, a penalty-free withdrawal (also known as a Penalty-Free Partial Surrender), of up to 5% (10% if no withdrawals taken in the prior year after second contract anniversary) of the Accumulation Value may be taken each year without incurring any surrender charges or MVA. Surrender charges are ten years in duration and are waived in the event of death or entrance into a nursing home. There is a Benefits Rider which offers Lifetime Payments, Enhanced Payments for Qualified Nursing Home Care and a Death Benefit for an additional cost. 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 2025 11:09