CUSIP Number:
69448E385
CUSIP Name:
Pacific Expedition 2 - 5 year Non-GROP with MVA
Product Policy Type:
Fixed Annuity
Inception Date:
01 May 2025
Close Date:
CUSIP Note:
Scrap Book:
The Pacific Expedition 2 - 5 year Non-GROP with MVA is a single premium deferred annuity. The initial minimum contribution is $25,000 qualified and non-qualified. There is an annual 10% free withdrawal of the prior anniversary value (for the first year, the free withdrawal amount is 10% of the premiums paid). Systematic withdrawals are an option. Surrender charges are five years in duration and are waived in the event of annuitization, RMDs, death, entrance into a nursing home, or diagnosis of a terminal illness. The Free Look period is 20 days for non replacements and 30 days for replacements. Upon a full withdrawal, the amount received will be at least equal to the total purchase payments, minus prior partial withdrawals including any withdrawal charges on those prior partial withdrawals. If no partial withdrawals are taken prior to the full withdrawal, the amount received will be at least equal to the total purchase payments. 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. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
30 Apr 2025 02:23