Liquidity Available SPIA With Optional Riders:
- Will pay a lifetime income with cash refund for as long as the annuitant lives.
Payments can be received monthly, quarterly, semi-annually or annually
- Minimum Deposit: $10,000 or $100 per month | $1,000,000 Maximum
- Company Ratings: A+ by A.M. Best
- Issue Age: 0-85
- Return of Premium on Cancellation of Contract: If you cancel your policy, you may be entitled to a refund of up to 100 percent of any remaining premium less any previous income payments. The following chart indicates the percent that will be returned each policy year.
Policy Year 1 = 95%
Policy Year 2 = 96%
Policy Year 3 = 97%
Policy Year 4 = 98%
Policy Year 5 = 99%
Policy Year 6 = 100%
- States approved in: ALL STATES except Washington and New York
- Return of Premium at Death: The policy will pay any remaining premium not already received through income payments to beneficiaries at the annuitant’s death.
- Accidental Death Benefit: The policy will pay the beneficiaries an amount double the Death Benefit if the annuitant dies in an airplane, train, taxi or other common carrier accident.
- Return of Premium for Terminal Illness: The policy will pay the amount that would have been payable under the death benefit if the annuitant is diagnosed with a terminal illness that is expected to result in death within 12 months (24 months or less in MA). A written statement from a doctor is required.
- Commission: 5.00% 0-85
- Request An Illustration:
Optional Features Below** (Subject to state availability)
**Additional premium or a lower payment will result when adding optional riders.
- 50% Increase in Payments for Nursing Home Confinement:
The policy owner may choose an option to enhance income payments by 50 percent each year for five years if the annuitant becomes confined to a nursing home. This increase will go into effect after the first two years the policy has been in force, and the annuitant has been confined to a nursing home for 90 consecutive days. At the end of the five-year period, the payments will return to the initial payment amount. If the Inflation Protection option is selected, the yearly 3 percent increase will continue throughout nursing home confinement. This increased payment will end at death. This option is not available if the Survivor Continuation option, described below, is selected.
- 10% or 20% Payment Increase for Certain Medical Conditions:
Income payments may be increased by 10 or 20 percent, based on certain health conditions. These benefits are referred to as 10 percent Payment Enhancement Risk Classes (PERC®) and 20 percent PERC®. In order to qualify for this benefit, the policy owner will be asked to complete additional questions on the application, and provide medical records. There is no additional cost for this option.
- 3.00% Inflation Protection:
The policy owner may select an option that will help income payments keep pace with inflation. Under this provision, the total income payments will increase by 3 percent each policy year. This 3 percent increase goes into effect 12 months after the first income payment.
- Guaranteed Minimum Death Benefit:
In addition to the Return of Premium at Death provision, this policy also offers an optional Guaranteed Minimum Death Benefit. At death, the policy will pay the greater of any remaining premiums not already received through income payments or 10 percent of the initial premium.
- Survivor Continuation Option:
This annuity can be tied to the life of both the annuitant and a spouse or a companion. The annuitant can elect to have the survivor continue to receive a predetermined percent of the income payment, up to 100 percent. In the event the survivor precedes the annuitant in death, the payee will continue to receive a percentage of the income payment.