CUSIP Number:
784864100
CUSIP Name:
4 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
13 Dec 2021
Close Date:
CUSIP Note:
Scrap Book:
The Select Choice Plus - Option 4 (7 year) with Market Value Adjustment (MVA) is a single premium deferred annuity with a Penalty Free Withdrawal (PFW) Rider and Return of Premium (ROP). The minimum premium is $2,000. Withdrawal charges are seven years in duration and are waived in the event of annuitization after the first contract year, death, confinement or diagnosis of a terminal illness. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 591/2, may also be subject to a 10% federal income tax penalty. Withdrawal charges and MVA may also apply. If contract is surrendered in full at any time, the contract holder will receive an amount equal to at least the premium paid, less premium taxes and any amounts received as partial withdrawals prior to surrender. 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 it is not a bank product protected by the FDIC.
Last Modified:
23 Aug 2024 11:10