CUSIP Number:
74367T561
CUSIP Name:
7 year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Protective Asset Builder II 7-Year is a limited, flexible premium deferred index annuity with a limited market value adjustment. The minimum single premium is $10,000 for qualified and non-qualified money. Additional contributions can be made for $50 or more any time up to age 86. 10% of the initial purchase payment can be withdrawn during the 1st contract year, 10% of the contract value as of the prior anniversary after the 1st contract year. Surrender charges are 7 years in duration (may vary with state availability); and are waived in the event of entrance into a nursing home / hospital, diagnosis of a terminal illness or unemployment. 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. The free look period varies by state. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
12 Jun 2024 06:21