CUSIP Number:
866792153
CUSIP Name:
MYGA
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Focus Five Plus is a flexible premium deferred fixed annuity. The minimum premium is $5,000 for qualified and non-qualified funds. Additional contributions can be made for a minimum of $100. There is an annual withdrawal of up to 10% of the policy value available each year after the first. Surrender charge free withdrawal of 100% of interest earnings is available beginning in the first policy year. Systematic withdrawals are also an option. Surrender charges are five years in duration (7,7,7,6,5) and are waived in the event of death or entrance into a nursing home or hospital. 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:
27 Oct 2023 17:13