CUSIP Number:
89354H644
CUSIP Name:
10 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
01 May 2015
Close Date:
CUSIP Note:
Scrap Book:
The Transamerica Secure Retirement Index 10 is a modified 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can be made for $1,000 or more and are only allowed in the first policy year. 10% of the purchase payment may be withdrawn after the first policy year and interest earned may be withdrawn during the first policy year without incurring a surrender charge. Surrender charges are ten years in duration (9, 9, 8, 7, 6, 5, 4, 3, 2, 1) and are waived in the event of death, unemployment, entrance into a nursing home, or diagnosis of a terminal illness. There is an optional Lifetime Income Benefit Rider available which, if elected at an extra cost, provides lifetime income. The Bonus recapture schedule, starting in year one, is 100%, 90%, 80%, 70%, 60%, 50%, 40%, 30%, 20%, 10%. 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 the claims-paying ability of the 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:
20 Sep 2023 07:29