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Your Commission On This Product:
4.5% + 5.25 eCredit$ per $1000 in Premium. |
| Actual compensation may be reduced for older ages |
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| Product Annualized Interest Rate | 0.00% |
| Interest Rates | The minimum guaranteed rate is between 1.0% and 3.0%.
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| Minimum/Maximum Premiums | Minimum premium is $10,000 ($2,000 per Option).
$2,000 minimum additional premium.
Maximum premium is $1,000,000 without prior approval of the home office. |
| Choice of Years of Surrender Penalties | 7 |
| Issue Ages | 0 - 85 |
| Surrender Charge | There are 7 years of surrender penalties:
10%, 10%, 10%, 10%, 8%, 6%, 3%
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| Withdrawal Provisions | At the end of the first anniversary, 10% of the account value may be withdrawn without surrender penalty. Systematic withdrawals are allowed as a specific amount or interest only on a repetitive basis, provided the minimum payment is $100. Systematic payment frequency can be monthly, quarterly, semi-annual, or annual.
Withdrawal penalties are waived for full or partial withdrawal:
1. Upon death.
2. When the nursing home or terminal illness applies.
Nursing Home Waiver: When owner is confined to a licensed nursing home for more than 60 days beginning after the first year of the annuity.
Terminal Illness Waiver: If, after the first year of the annuity, the owner is diagnosed by a licensed physician as having an illness or condition resulting in a life expectancy of less than one year.
Death Benefit: No surrender charges will be deducted from the account value if the owner dies. Death benefit will be the account value
The Minimum Guaranteed Surrender Value ("MGSV") for a full surrender from an Option is the aggregate of 100% of the account value, less any surrenders and surrender charges thereon, plus daily interest accruing at the minimum guaranteed interest rate, adjusted for any reallocation of account value, and a surrender charge is also deducted.
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| Index Provisions | The are four interest crediting options that may be chosen:
1 Year: S&P 500® monthly point-to-point
1 Year: S&P 500® annual point-to-point.
1 Year: S&P 500® monthly average
Fixed rate guaranteed for one-year and reset annually
thereafter and guaranteed for an additional year.
Caps are declared and guaranteed for the index crediting period, subject to the minimums.
Annual index credit is never less than zero.
Reallocation is allowed at the end of each crediting rate period into any of the available options, subject to the minimum amount per option. Credited amounts are added to the account value at the end of each crediting period.
The fixed rate option guarantees a competitive interest rate for successive one-year periods. |
| Current rates, caps, bonuses and participation | OMFN_Rates.pdf |
| Additional Information | Issue age is last birthday for both owner and annuitant.
Rate protection on 1035 exchanges is 60 days.
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| Exceptions | Old Mutual Financial Network sales support can be reached at: 800.445.6758 or by emailing them at: sales-support@omfn.com
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| Commission Details | Commission
WITHOUT TRAIL COMMISSIONS
Age All Options Renewals
(yrs. 1-3)
0-79 4.50% 0.0%
80-85 2.25% 0.0%
WITH TRAIL COMMISSIONS**
Age All Options Renewals
(yrs. 1-3)
0-79 1.75% 0.0%
80-85 .875% 0.0%
**Performance Trial Option (PTO) commission is an elected option you may choose in lieu of the traditional commission. PTO allows you to earn a commission of 10% of the equity interest credited to your clients' annuities.
Full Commission paid for sales up to $1,000,000. Rates are for years 1 thru 3. No commissions are payable after the 3rd policy anniversary. Sales that replace existing policies of the company will be paid at a reduced rate.
Commission chargeback is 100% during the first year and 50% during the second year and shall apply to full surrenders or any partial surrender exceeding the free surrender amount. There will be an adjustment in commissions to the SPIA level for policies that are annuitized in the first policy year. There is no commission chargeback on death of a policyholder.
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| States not Approved | Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming |
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