CUSIP Number:
656804234
CUSIP Name:
5 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
28 Oct 2024
Close Date:
CUSIP Note:
Scrap Book:
The Max Elite Guarantee 5-Year is a single premium deferred annuity with a market value adjustment. The initial minimum contribution is $20,000 for both qualified and non-qualified. Systematic withdrawals are also an option. Surrender charges (9%, 8%, 7%, 6%, 5%) are waived in the event of nursing home confinement, annuitization or death. At the beginning in the first year of the contract, up to 10% of the accumulation value can be withdrawn at the start of each year without surrender or MVA charges. The MGSV will be 87.5% Withdrawals may be subject to Federal/State income tax, and if taken prior to age 59 1/2, a 10% Federal Penalty tax. 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 securities or bank products protected by the FDIC.
Last Modified:
28 Oct 2024 10:05