CUSIP Number:
38983V219
CUSIP Name:
MVA Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
06 Jan 2020
Close Date:
CUSIP Note:
Scrap Book:
Index Protector 5 (Wells Fargo) is a modified single premium fee based deferred index annuity with a market value adjustment. The minimum single premium is $50,000 for qualified and non-qualified contract. Additional contributions can be made for at least $25,000 during the first 60 days of the issue. During the first contract year, up to 10% of purchase payments may be withdrawn without incurring any MVA. After the first contract year, up to 10% of the account value (as of the most recent contract anniversary) can be withdrawn annually under the same conditions. While there are no early withdrawal charges, a market value adjustment may apply to withdrawals made within the first five contract years. The contract also offers a systematic withdrawal option. 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. 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:
05 May 2026 11:10