CUSIP Number:
95884N803
CUSIP Name:
7-Year Non-GROP
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Stable Growth 7 Annuity (Non-GROP) is a single premium deferred fixed annuity. The minimum premium is $2,000 for qualified funds and $5,000 for non-qualified funds. There is an annual withdrawal of the greater of the accumulated interest earned or up to 15% available as of the last anniversary's account value, available 30 days from contract issue. Systematic withdrawals are also an option. Surrender charges are seven years in duration and are waived in the event of annuitization, 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:
30 Nov 2023 21:54