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Your Commission On This Product:
5.25% + 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 guaranteed minimum interest rate is 2.25%.
MGIR is set at issue, guaranteed for life of the contract.
There is a guaranteed 5% Premium Bonus on all 1st year premiums.
Minimum Guaranteed Surrender Value: 87.5% of all premiums, less withdrawal proceeds, at Minimum Guaranteed Interest, compounded annually. |
| Minimum/Maximum Premiums | Minimum premium: $5,000
Maximum Premium:
Issue Ages 0-69 $1,000,000
Issue Ages 70-74 $750,000
Issue Ages 75-80 $500,000
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| Choice of Years of Surrender Penalties | 10 |
| Issue Ages | 0 - 80 |
| Surrender Charge | 10 years of surrender penalties. The penalties are expressed as a percent of accumulation value and are as follows:
13.25%, 12%,10.75%, 9.25%, 8%, 6.75%, 5.5%, 4%, 2.5%, 1%, 0%
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| Withdrawal Provisions | 10% of Contract Value annually, starting in year 2. Systematic withdrawals and RMD immediately from Fixed Value (this benefit is not guaranteed and subject to change). |
| Index Provisions | The product offers an option of five investment choices:
S&P 500 Annual Monthly Average
S&P 500 Annual Pt to Pt
S&P 500 Monthly Pt to Pt
10-Year U.S. Treasury Bond
Fixed Value Rate |
| Current rates, caps, bonuses and participation | AE_Rates.pdf |
| Additional Information | Terminal Illness Rider:
Where state approved, automatically included for ages 0-74. Up to 100% penalty-free withdrawals of Contract Value.
Nursing Care Rider:
Allows a 100% Penalty free Withdrawal after the 3 Contract Anniversary; If confinement occurs in the 2nd or 3rd contract year then a 20% penalty-free withdrawal is allowed.
Lifetime Income Benefit Rider-2010:
Allows owner/annuitant to receive guaranteed income for life w/o annuitization. The income amount is a percentage of the Income Amount Value (IAV) based on the age at time of election. IAV equals all 1st year premiums plus Premium Bonus plus either 5% or 8% annual interest for the ten year IAV period, or until the LIB payments begin. There is no charge for the 5% IAV rate. For the 8% IAV rate option, a 0.60% rider fee is taken from the contract value every year the LIBR remains active. After ten years, there a restart provision for another ten years at which time the rider fee charge is subject to change. If the IAV is less than the contract value, the IAV will step up to equal the contract Value.
Owner/annuitant eligible to elect LIB payments at age 50 and after the first contract year. LIB payments may also be stopped and restarted at O/A discretion.
LEVEL PAYMENT OPTION
O/A Age Single O/A Joint O/A
at election of LIB % of IAV % of IAV
50-59 4% 3.5%
60-69 5% 4.5%
70-79 6% 5.5%
80+ 7% 6.5%
INCREASING PAYMENT OPTION
O/A Age Single O/A Joint O/A
at election of LIB % of IAV % of IAV
50-59 3% 2.5%
60-69 4% 3.5%
70-79 5% 4.5%
80+ 6% 5.5%
*The current payment increasing percentage is 3%
The decision to choose a payout option is done at the time income is elected. |
| Commission Details | Commissions
Age Year 1 Year 2 Year 3
0-75 5.25% 0.92% 1.00%
76-80 3.94% 0.69% 0.75%
First year commission is charged back if the Annuitant or Owner dies of natural causes before the first Contract Anniversary and the Contract Value is paid out in a lump sum. Recovery is prorated 1/12 for each month the Contract is in force.
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| States not Approved | Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Vermont
Virginia
West Virginia
Wisconsin
Wyoming |
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