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Your Commission On This Product:
6.5% + 7.00 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 | Min. Guaranteed Interest 90% of the prem. paid, less withdrawals, compounded at 3% per year.
Guaranteed Lifetime Income Account Value
Includes a 12% bonus applied to the initial premium received. (Not available in WA)
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| Minimum/Maximum Premiums | $25,000 minimum single premium
$1,000,000 maximum single premium (Home office approval required for premiums in excess of $1,000,000.)
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| Choice of Years of Surrender Penalties | 10 |
| Issue Ages | 0 - 85 |
| Surrender Charge | All withdrawals in excess of the 10% free withdrawal amount each contract year will incur withdrawal charges. There are no withdrawal charges after the tenth contract year.
Withdrawal Charges: 10%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0%
Withdrawals may be subject to federal and/or state income tax and, if taken prior to age 59 age 59½, an additional 10% federal penalty tax.
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| Withdrawal Provisions | 10% of the beginning-of-year Contract Value after the first contract year can be withdrawn each year without incurring withdrawal charges.
Systematic withdrawals may be specified by dollar amount or percentage of Contract Value with your choice of payout frequency.
Waiver of withdrawal charges due to nursing home confinement and/or terminal illness
Death Benefit-Full Contract Value without any withdrawal charges. |
| Index Provisions | Premiums can be allocated to your choice of two strategies, a fixed interest strategy and a strategy based on the S&P 500® Index. Funds selected are locked in for one year.
1. Fixed Account Strategy
2. Annual Spread with Monthly Averaging Over the
Index Averaging Period
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| Current rates, caps, bonuses and participation | ForeThought_Rates.pdf |
| Additional Information | Nursing Home Waiver Rider
Terminal Illness Waiver Rider
Guaranteed Lifetime Income Benefit
Activate at any time after age 59 1/2 (and after the first contract year). Provides a guaranteed annual income you can systematically withdraw for as long as you live, even if the Contract Value falls to zero. Contract Value continues to receive positive indexed interest gains even after electing to begin the Guaranteed Lifetime Income Benefit.
Guaranteed Lifetime Income Account Value
Includes a 12% bonus applied to the initial premium received. Guaranteed to be at least 110% of the premium, less prior withdrawals, accumulated at 5% interest on the date the benefit is exercised. Opportunity to receive annual indexed interest gains based on change in the S&P 500 Index®. 100% Participation with no annual caps and no annual fees, all guaranteed for 10 years. (Not available in WA)
Guaranteed Lifetime Annual Income
Equal to 5% of the Guaranteed Lifetime Income Account Value on the day you activate the benefit. Should the Contract Value exceed the value of the Guaranteed Lifetime Income Account, a 10% Step Up Benefit will provide at least 10% additional guaranteed income for life.
Annuity Options
• Life Annuity
• Life Annuity with 10 Years Certain
• Life Annuity with 20 Years Certain
• Joint and Last Survivor Annuity
• Joint and Last Survivor Annuity with 10 Years Certain
• Guaranteed Payment Period
• Guaranteed Payment Period, Not to Exceed Life Expectancy (WA Only)
Cash and transfers must be received with application by Monday 5 PM to qualify for a Wednesday of the same week buy date (applies to all index-linked annuities). |
| Exceptions | Issue age for MO 0-75
Guaranteed Lifetime Annual Income different in WA, call for details. |
| Commission Details | Commissions-
0-75: 6.50%
76-85: 5.00%
Commission Chargeback Policy:
All withdrawals in the first policy year are subject to commission charge backs including Required Minimum Distributions, full and particial withdrawals, and death in the first year, regardless of whether withdrawal charges are incurred.
Issues ages up to 80; 100% months 1-6, 50% months 7-12.
Issues ages 81+; 100% months 1-12. |
| 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
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
West Virginia
Wisconsin
Wyoming |
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