CUSIP Number:
74367T371
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
31 Aug 2015
Close Date:
CUSIP Note:
Scrap Book:
The Protective Income Builder is a limited, flexible premium deferred index annuity with a limited market value adjustment. The minimum single premium is $25,000 for qualified and non-qualified money. Additional contributions can be made for $1,000 or more in the first policy year only. 10% of the initial purchase payment can be withdrawn during the 1st contract year, 10% of the contract value as of the prior anniversary after the 1st contract year (minimum $1,000). Minimum contract value after withdrawals must be $10,000. Surrender charges are 7 years in duration and are waived in the event of entrance into a nursing home/hospital, diagnosis of a terminal illness, or unemployment. There is a lifetime income benefit included with the contract for an additional charge. 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:
27 Jan 2025 11:15