CUSIP Number:
468511886
CUSIP Name:
7 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The NY Optimax is a flexible premium deferred annuity. The initial minimum contribution is $2,000 qualified and $10,000 non-qualified. 10% of the contract value may be withdrawn in any policy year. Systematic withdrawals are an option. Withdrawal charges are waived in the event of death, or entrance into a hospital or nursing home. There is a return of premium which guarantees that the cash value will never be less than 100% of the premium payment, less withdrawals. Withdrawals may be subject to Federal/State income tax, and if taken prior to age 59 1/2, a 10% Federal Penalty tax. Guarantees based on claims paying ability of insurer. This is an annuity contract issued by an insurance company and not securities or bank products protected by the FDIC.
Last Modified:
31 Jul 2023 12:45