CUSIP Number:
37250E355
CUSIP Name:
6 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The SecureLiving Advantage NY is a Single Premium Deferred Annuity. The minimum initial contribution is $5,000 for Non-Qualified and $2,000 for Qualified. 10% of the contract value may be withdrawn up to 12 times per contract year. Systematic withdrawal is an option. Surrender charges are six years in duration (7,7,7,6,6,5) and are waived in the event of annuitization, death, or admittance into a nursing home. 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. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
31 Jul 2023 11:45