CUSIP Number:
57629G162
CUSIP Name:
7 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
7 Year Annuity
Scrap Book:
The SecureGain 7 - 2025 is a single premium deferred index annuity with a market value adjustment. The minimum single premium is $10,000 for qualified and non-qualified money. 10% of the purchase payment may be withdrawn during the first policy year and 10% of the account value as of the prior anniversary may be withdrawn after the first policy year without a surrender charge. Systematic Withdrawal is an option. Surrender charges are seven years in duration (8,8,7,6,5,4,3) and are waived in the event of annuitization, death, entrance into a nursing home, or diagnosis of a terminal illness. There is a 30-day period after contract year three in which early withdrawal charges and MVAs are waived for full surrenders. The GMSV equals 87.5% of purchase payments minus all prior withdrawals (not including early withdrawal charges or negative MVAs) plus interest credited daily at the GMSV rate. The GMSV will not be less than the minimum values required by the NAIC Standard Nonforfeiture Law for Individual Deferred Annuities, model #805 and the GMSV rate will not be less than the minimum rate required by each state. An MVA and early withdrawal charge apply during every multi-year renewal term. 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:
30 Apr 2026 11:16