CUSIP Number:
853527232
CUSIP Name:
MYGA
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Focused Growth Annuity is a single premium deferred fixed annuity with a market value adjustment (N/A in CA). The minimum premium is $15,000 for qualified and non-qualified funds. Additional contributions can be made during the first 90 days only. Accumulated interest can be withdrawn beginning in the first policy year for the current year's accumulated interest. Surrender charges vary by rate term and are waived in the event of annuitization, death, entrance into a nursing home, diagnosis of a terminal illness and RMDs. MVA is waived whenever surrender charges are waived. Age and state restrictions may apply. There is a 30-day renewal window with repeating guarantee periods. 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:
01 Dec 2023 18:33