CUSIP Number:
75950W168
CUSIP Name:
7 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
30 Oct 2004
Close Date:
CUSIP Note:
Scrap Book:
The Apollo - SP is a Single Premium Deferred Annuity. The minimum initial contribution is $5,000. There is a cumulative withdrawal available where if no penalty-free withdrawal is taken during the second policy year or any of the following years, each unused 10% may be carried over to the next policy year and accumulated up to a maximum of 30% of the single premium paid. When a penalty-free withdrawal is taken, the cumulative penalty free amount resets to 0%. Systematic withdrawal is an option. Surrender charges are seven years in length and are waived in the event of Annuitization after the fifth contract year, Death, admittance into a hospital or nursing home (this rider is automatically issued when the annnuitant is 74 or younger at issue; surrender is waived up to 25% after the first contract year). There is also an annuitization bonus equal to 4% of the annuity value if at any time after the fifth contract year the owner elects a settlement option with a duration of 10 years or more. 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:
16 Dec 2025 11:56