Premium and interest bonuses are credited only to the Protected Income Value (PIV). The PIV is available only through lifetime withdrawals and is not available as a lump sum. If you take withdrawals other than lifetime income, the PIV will be reduced proportionally. Withdrawals are subject to ordinary income tax and, if taken before age 59½, an additional 10% federal penalty. Bonus annuities may also include longer withdrawal charge periods, lower crediting rates, or other restrictions compared to annuities that do not offer a bonus.
Diversifying allocations within a fixed index annuity does not ensure an interest credit in every period and no single allocation is guaranteed to be effective in all market environments.
For the “income now or later” option, lifetime withdrawals can begin immediately or on any monthly anniversary, provided certain conditions are met and no excess withdrawals or additional premiums have been taken.
For the “income after 10 years” option, lifetime withdrawals can begin on or after the 10th contract anniversary, provided certain age and withdrawal conditions are met.
The Accelerated Interest Bonus option provides a 250% PIV interest bonus with a 50% accumulation value. The Balanced Interest Bonus option provides a 150% PIV interest bonus with a 100% accumulation value.
Exercising an Index Lock may result in a credit higher or lower than if the Index Lock had not been used.
Increasing income potential is included through a built-in rider at no additional cost.
The Income Multiplier Benefit requires meeting specific health conditions, such as confinement to an eligible care facility or the inability to perform at least two activities of daily living for 90 consecutive days, as certified by a physician. Enhanced withdrawals continue until the accumulation value is depleted, after which withdrawals revert to the standard amount.