CUSIP Number:
63653P862
CUSIP Name:
MYGA
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The AnnuiQuest is a single premium deferred fixed annuity. The minimum premium is $2,000 for qualified funds and $5,000 for non-qualified funds. During each policy year, including the first, the interest credited may be withdrawn or up to 10% of the contract value. Systematic withdrawals are also an option. Surrender charges are seven years in duration (7,7,7,6,5,4,3) and are waived in the event of death (of annuitant) or disability. 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 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:
08 Feb 2024 19:39