FlexPlus 7 is a Flexible Premium Deferred Annuity. It is an attractive alternative to CD's and other taxable vehicles. FlexPlus 7 is designed for those seeking guaranteed tax-deferred growth with a choice of monthly income options on the annuity payout.
FlexPlus 7 Advantages
Rider benefits included - No cost to policyowner:
Tax-deferred - Your annuity grows much faster than alternative vehicles because you:
Result - You and your family have more money with a tax-deferred annuity.
Your Accumulation Value is 100%* of your premiums and earned interest. The Surrender Value is the Accumulation Value less any withdrawals and applicable withdrawal charges. The Accumulation Value Death Benefit at the owner's death is paid in a lump sum and is an advantage to your beneficiaries. Prior withdrawals are deducted from the Accumulation Value, Surrender Value, and Death Benefit.
Your interest earnings are available when you need them. You may withdraw up to 100% of your accumulated interest or receive monthly interest checks, or a 10% Free Withdrawal is available after the first contract year. The minimum interest check is $200. Any premium withdrawn during the first seven policy years is subject to withdrawal charges.
Since there are no front-end sales charges or annual fees, 100% of your money is always working for you!
You may elect to annuitize at any time after thirty days. You have a wide range of options from which to choose. A payout option can be tailored to meet your specific needs. Withdrawal charges are waived if you elect a lifetime payout after the fifth contract year.
*Some states charge a premium tax
A 10% IRS penalty may apply to amounts withdrawn before the owner reaches the age of 59½.
All policies must be approved by the State Insurance Department or appropriate regulatory authority in the applicant's resident state.Back to top
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