Accumulator MarcSeven
Status:
Active
Group:
Equitrust
Company:
EquiTrust Life Insurance Company
Product Type:
Indexed Annuity
Product Status:
Carrier Review
Version:
0
Inception Date:
October 12, 2017
Closed Date:
January 31, 2019
Last Modified:
June 04, 2025 06:57
Description:
The Accumulator MarcSeven is a flexible premium deferred index annuity with a market value adjustment and 7 year surrender charge schedule. The minimum single premium is $10,000 for qualified and non-qualified money. 10% of the accumulated value may be withdrawn each policy year after the first. Systematic withdrawals of interest are allowed in the first year from the 1-Year Interest Account without Surrender Charge or MVA and must be taken via electronic funds transfer (EFT). Surrender charges vary by state and if requirements and conditions are met, charges may be waived in the event of annuitization, death, entrance into a nursing home or hospital. 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 the 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.The free look period varies by state.
Fee Based:
No
Free Look:
No
Plan Types:
Non-Qualified, IRA
Premium Types:
Flexible
States Available:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IND, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, MZ, NC, ND, NE, NH, NJ, NM, NV, OH, OK, ORG, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
States Exception:
Version Note:
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 |
Riders
| Name | Rider type | Internal name | Sequence | Inception date |
|---|---|---|---|---|
| Guaranteed Accumulation Value Benefit | GMAB | Guaranteed Accumulation Value Benefit | 06 Mar 2018 |