CUSIP Number:
050930114
CUSIP Name:
5-Year
Product Policy Type:
Fixed Annuity
Inception Date:
16 Jan 2024
Close Date:
CUSIP Note:
Scrap Book:
The LunarLock Prime 5 is an Individual Single Premium Annuity. The minimum single premium allowed is $10,000 for qualified and non-qualified money. During the first contract year, up to 10% of the amount used to purchase the annuity may be withdrawn. After the first contract anniversary, up to 10% of the contract value as of the prior contract anniversary purchase payment can be withdrawn without incurrence of any surrender charges. Surrender charges are 5 years in duration and are waived in the event of death, annuitization or entrance into any qualified nursing home or hospital. Guaranteed Minimum Nonforfeiture Value is 87.5% of the contribution. 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:
21 Jan 2025 19:52