A Deferred Annuity That Grows With the S&P 500® and Offers Generous Access to Funds
The Index Growth Annuity is a single-premium, deferred annuity designed to reflect the performance of the well known Standard & Poor’s 500® index. By tying the annuity’s performance to this popular index, your client will participate in the growth of the index and at the same time be protected from downturns with the strong guarantees of a fixed annuity.
A Combination of Fixed- and Indexed-Rate Accounts
This annuity offers a Fixed Interest account with a one-year interest-rate guarantee, and an Index Interest account with an annual, point-to-point index term that participates in 100% of the growth of the index up to an index rate cap. At the end of the index term, your client benefits from competitive renewal rates based on the current interest-rate environment and current market conditions. In addition, a contractual bailout index rate cap is set at 2.00% less than the initial index rate cap.
Choice of Surrender Periods With Flexible Withdrawal Options
There is a choice of a five- or seven-year surrender-charge period and the contract offers a variety of ways for your client to access funds before the end of the surrender-charge period without paying a surrender charge. In addition, there is no window at the end of the surrender-charge period, during which time owners are generally required to make a decision prior to a restart of surrender charges.
The Index Growth Annuity is designed for those people who are interested in guaranteed rates, but who also desire a return that can capitalize on positive economic conditions, and which may exceed traditional fixed products.
This annuity is also an excellent way to enhance your client’s retirement-savings plan and can be used to fund 403(b) TSAs, IRAs and SEPs.