Allstate Treasury-Linked Annuity NY
Status:
Active
Group:
Prudential
Product Type:
Fixed Annuity
Product Status:
Approved
Version:
0
Inception Date:
March 14, 2005
Closed Date:
June 01, 2009
Last Modified:
October 21, 2024 00:00
Description:
The Allstate Treasury-Linked Annuity NY is a flexible premium deferred fixed annuity 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 $3,000 for qualified funds and $5,000 for non-qualified funds. There is a 10% annual free withdrawal of accumulated value. Systematic withdrawals are also an option. Surrender charges are waived in the event of death. The surrender charge schedule is 5 years in duration (9,8,8,7,6) 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. 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:
Flexible
States Available:
NY
States Exception:
AK, AL, AR, AZ, BERMUDA, CA, CO, CT, DC, DE, FL, GA, GU, 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, VI, VT, WA, WI, WV, WY
Version Note:
Scrap Book: