CUSIP Number:
866792724
CUSIP Name:
MYGA
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Lantern Retirement Advantage is a Flexible Premium Deferred Annuity with a Market Value Adjustment. The minimum initial contribution is $4,000 Qualified (varies based on qualified plan) and $5,000 Non-Qualified. Additional payments can be made for a minimum of $100. There is an annual 10% free withdrawal of accumulated value. Withdrawal of interest earnings is available. Systematic Withdrawal is an option. Surrender charges vary based on rate term chosen and are waived in the event of death. There is a 30-day window prior to the end of any guarantee period in which all or part of the accumulated value may be withdrawn. 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:
31 Oct 2023 18:20