Alternative Annuity
Status:
Active
Group:
Company:
Bankers Life and Casualty
Product Type:
Fixed Annuity
Product Status:
Draft
Version:
0
Inception Date:
June 30, 2003
Closed Date:
December 31, 2004
Last Modified:
February 13, 2025 00:00
Description:
Alternative Annuity is a Single Premium Deferred Annuity that allows additional contributions. The minimum initial contribution is $5,000 Non-Qualified and $2,000 Qualified. Additional contributions can be made for at least $1,000 during the first policy year only. There is a 10% annual free withdrawal of accumulated value. Surrender charges are nine years in length and are waived in the event of Annuitization, Death, entrance into a Nursing Home or diagnosis of a Terminal Illness.
Fee Based:
No
Free Look:
Yes
Plan Types:
457 (b), 401 (k), HR-10 (Keogh), 403 (b), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Others
Premium Types:
Limited Flexible
States Available:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, KS, KY, IN, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
States Exception:
BERMUDA, GU, NY, PR, VI
Version Note:
Scrap Book: