CUSIP Number:
74367N416
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The ProSaver Index Choice II 7-year is a flexible premium deferred index annuity. The minimum single premium is $10,000 for qualified and non-qualified money. Additional contributions can be made for $1,000 or more. 10% of the initial purchase payment can be withdrawn during the 1st contract year, 10% of the contract value as of the prior anniversary after the 1st contract year. Systematic Withdrawal is an option. Surrender charges are seven years in duration (9,9,8,7,6,5,4) and are waived in the event of death, entrance into a nursing home, or diagnosis of a terminal illness. There is an Annuity Value Benefit, available at no additional charge, which increases the annuity value by 2% (based on contract value) if annuity payments begin on or after the 10th contract anniversary (must be for life with a certain period of at least 10 years). 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. 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 11:41