CUSIP Number:
69448E435
CUSIP Name:
7-Year Non-GROP
Product Policy Type:
Fixed Annuity
Inception Date:
06 Nov 2023
Close Date:
CUSIP Note:
Scrap Book:
The Pacific Mariner 2 -7 Year (Non-GROP) is a limited single premium deferred annuity. The initial minimum contribution is $10,000 for both qualified and non-qualified money. The penalty free withdrawal percentage is equal to 10% of the purchase payments in the first year and 10% of the prior anniversary value in each subsequent year. Systematic withdrawals are an option. Surrender charges are seven years in duration and are waived in the event of annuitization, RMDs, death, entrance into a nursing home, or diagnosis of a terminal illness. 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:
08 Jan 2025 23:36