CUSIP Number:
853527430
CUSIP Name:
MYGA Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
01 Dec 2020
Close Date:
CUSIP Note:
Scrap Book:
The Multi-Choice Annuity is a single premium deferred fixed annuity with a market value adjustment (N/A in CA). The minimum premium is $15,000 for qualified and non-qualified funds. Additional contributions can be made during the first 90 days only. Surrender charges vary by rate term and are waived in the event of annuitization, death, entrance into a nursing home, diagnosis of a terminal illness and RMDs. MVA is waived whenever surrender charges are waived. Age and state restrictions may apply. There is a 30-day renewal window with repeating guarantee periods. Accumulated interest can be withdrawn beginning in the first policy year for the current year's accumulated interest with Option 2; 10% of the accumulation value may be withdrawn without incurring a penalty (after the first policy year) with Option 3; Guarantee of Principal and 10% of the accumulation value may be withdrawn without incurring a penalty (after the first policy year) is available on Option 4. 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. 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.
Last Modified:
16 Dec 2025 12:00