Allstate Preferred Performance Annuity NY
Status:
Active
Group:
Prudential
Product Type:
Fixed Annuity
Product Status:
Approved
Version:
0
Inception Date:
May 24, 2006
Closed Date:
April 01, 2009
Last Modified:
February 14, 2025 00:00
Description:
The Allstate Preferred Performance NY is a flexible premium deferred fixed annuity. The minimum premium is $3,000 for qualified funds and $5,000 for non-qualified funds. Additional contributions can be made for a minimum of $100. There is a 10% annual free withdrawal of accumulated value. Systematic withdrawals are also an option. Surrender charges are six years in length (8,8,7,6,5,4) and are waived in the event of death, entrance into a nursing home or hospital, or diagnosis of a terminal illness. There is an optional return of principal rider which, if elected, guarantees the sum of all purchase payments, less prior withdrawals, anytime a full withdrawal is made from the account. 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.
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, Spousal IRA, Others, 401 (a)
Premium Types:
Flexible
States Available:
NY
States Exception:
AK, AL, AR, AZ, BERMUDA, CA, CO, CT, DC, DE, FL, GA, GU, 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, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
Version Note:
Scrap Book: