SecureGain 5 features
ISSUE AGES
Qualified: 0–89
Inherited IRA: 0–75
Non-qualified: 0–89
Inherited non-qualified: 0–75
PURCHASE PAYMENT
You can purchase this annuity with an initial purchase payment of $25,000 or more. Additional purchase payments of $2,000 or more may be made in the first 60 days of the contract. Additional purchase payments have their own interest crediting terms.
FEES
There are no upfront charges. All your money goes to work for you.
TERMS
Each purchase payment will have its own initial term. Each initial term for a purchase payment begins on the date a purchase payment is received and ends on the fifth contract anniversary. After each initial term or renewal term ends, this product may offer the option to renew for an additional five-year term. An interest rate will be set for each purchase payment. The initial interest rate for a purchase payment is guaranteed until the fifth contract anniversary. After the fifth contract anniversary, interest rates will never be lower than the annuity’s minimum interest rate. At the end of each term, you may have the option to begin a new five-year renewal term if available. A market value adjustment (MVA) and early withdrawal charge will apply during any renewal term. During the first contract year, you may withdraw up to 10% of your total purchase payments without incurring an MVA or early withdrawal charge. After the first contract year, up to 10% of the account value on the most recent contract anniversary may be withdrawn without incurring an MVA or early withdrawal charge. Amounts withdrawn in excess of the penalty-free withdrawal allowance may be subject to early withdrawal charges and an MVA. Unused portions of the free withdrawal allowance may not be carried over from one contract year to the next. During each initial or renewal term, an early withdrawal charge starting at 8% is applied to surrenders or withdrawals that exceed the 10% penalty-free amount. For this purpose, each term year ends on a contract anniversary.
INTEREST RATES
RENEWALS
PENALTY ! FREE WITHDRAWALS
EARLY WITHDRAWAL CHARGES
Term year
1
2
3
4
5
Early withdrawal charge
8% 8% 7% 6% 5%
8
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