CUSIP Number:
814121133
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
09 Jan 2013
Close Date:
CUSIP Note:
Scrap Book:
The Foundations Annuity 7 is a flexible premium deferred annuity with a market value adjustment. The minimum single premium is $25,000 for qualified and non-qualified money. 10% of the contract value is available after the first contract year. Surrender charges are seven years in duration, vary by state, and are waived in the event of death, entrance into a 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. 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:
07 Oct 2025 10:27