CUSIP Number:
69335E571
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Phoenix Foundations 7 is a modified single premium deferred index annuity with a market value adjustment. The minimum single premium is $25,000 for qualified and non-qualified money. 10% of the contract value may be withdrawn each policy year without a surrender charge or market value adjustment. Systematic Withdrawal is an option. Surrender charges are seven years in duration (7,7,7,6,6,5,5) are waived in the event of annuitization, death, entrance into a hospital or nursing home, or diagnosis of a terminal illness. 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:
29 Aug 2023 11:16