CUSIP Number:
91215A107
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
15 Mar 2024
Close Date:
CUSIP Note:
Scrap Book:
The Power Index Premier NY (Proprietary Bank) is a single premium deferred individual fixed index annuity. The minimum single premium is $25,000 for non-qualified and qualified money. 10% of the accumulated value may be withdrawn once each policy year after the first. Systematic Withdrawal is an option. There are seven years of surrender charges that are waived in the event of death of the owner. There is an optional Lifetime Income Benefit Rider, providing an opportunity of lifetime income withdrawals at no additional cost. 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. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
01 Apr 2026 08:12