CUSIP Number:
656803194
CUSIP Name:
10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The North American Charter Plus II is a flexible premium deferred index annuity with an MVA (state variations may apply). Available for owner/annuitant age between 0-79. The minimum single premium is $20,000 for non-qualified and 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 Additional contributions can be made for $25 or more. 10% of the accumulation value may be withdrawn after the first policy year without a withdrawal charge. Surrender charges are ten years in duration and are waived in the event of annuitization after the fifth policy year, death, or entrance into a nursing home. There is an optional Additional Benefit Rider which, if elected for an extra cost, provides additional premium bonus, enhanced penalty-free withdrawals, Additional Payout Benefit, and Return of Premium. There is an optional GLWB available called the Income Pay Plus and is available only when the Additional Benefit Rider is not elected (in UT and VA). 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:
31 Jul 2023 13:41