CUSIP Number:
34628V656
CUSIP Name:
7-Year
Product Policy Type:
Fixed Annuity
Inception Date:
27 Sep 2023
Close Date:
CUSIP Note:
Scrap Book:
The SecureFore 7 (Proprietary Bank) is a single premium deferred annuity. The initial minimum contribution is $10,000 for both qualified and non-qualified money. 10% of the premium may withdrawn beginning in contract year one without incurring withdrawal charges. Systematic withdrawals are an option. Surrender charges seven years in duration, vary by state, and are waived in the event of bail-out, death, entrance into a nursing home or diagnosis of a terminal illness. Rates vary by bank and may be higher or lower depending on special concessions or other considerations. This profile reflects standard, shelf product interest rates. 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 23:41