CUSIP Number:
34628V722
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
7 Year Annuity
Scrap Book:
The ForeIncome II 7-Year is a single premium deferred annuity with a market value adjustment. The minimum single premium is $25,000 for qualified and non-qualified money. 10% of the beginning-of-year contract value may be withdrawn annually without incurring a surrender charge or MVA. Surrender charges are 7 years in duration (may vary with state availability); and are waived in the event of death, entrance into a nursing home or diagnosis of a terminal illness. There is a Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider included at issue to ages 50 or more that modifies the contract withdrawal provisions to allow the owner to withdraw a lifetime annual payment (LAP) without a withdrawal charge or MVA. Income cannot be activated until age 55, but the benefit is included at issue for those individuals that open contracts between the ages of 45-54. State variations may apply. The product has an additional feature of Non-taxable Registered Investment Advisory (RIA) withdrawals. This contract may be subject to Advisory Fees, not charged by the carrier, that will not affect the benefit base. Advisory Fees cannot surpass an annual rate of 1.50% of Contract's Value. 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:
02 May 2026 12:03