Allstate Treasury-Linked Annuity Plus
Status:
Active
Group:
Everlake
Company:
Everlake Life Insurance Company
Product Type:
Fixed Annuity
Product Status:
Approved
Version:
0
Inception Date:
March 14, 2005
Closed Date:
March 31, 2010
Last Modified:
October 22, 2024 00:00
Description:
The Allstate Treasury-Linked Annuity Plus is a single premium deferred fixed annuity with a market value adjustment that provides a guaranteed five-year rate plus the unique ability to earn additional interest based upon the performance of the five- year U.S. Treasury rate. The minimum premium is $10,000 for qualified and non-qualified funds. There is a 10% annual free withdrawal of accumulated value. Systematic withdrawals are also an option. Surrender charges are waived in most states in the event of death, entrance into a nursing home or hospital, unemployment, or diagnosis of a terminal illness. The surrender charge schedule is 10 years in duration (9,8,8,7,6,5,4,3,2,1) and due to the 45 day window at the end of the initial 5-year guarantee period, access is allowed to part or all of the accumulated funds without surrender charge or MVA. The Free Look is 30 days in California. 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.
Fee Based:
No
Free Look:
Yes
Plan Types:
457 (b), 401 (k), HR-10 (Keogh), 403 (b), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Spousal IRA, Others, 401 (a)
Premium Types:
Single
States Available:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, KS, KY, IN, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WI, WV, WY
States Exception:
BERMUDA, GU, NY, VI, WA
Version Note:
Scrap Book: