Legacy Solution®

A fixed index annuity (FIA) is a contract between you and an insurance company. FIAs offer the opportunity for tax-deferred growth based in part on changes in a market index, plus the option to convert your annuity into a steady, guaranteed, lifetime income stream, all while protecting your hard-earned principal from the uncertainty of market volatility.

A MVA may be applied if you make an excess withdrawal or surrender the contract. A MVA may be positive, negative or zero depending on whether interest rates have decreased, increased or stayed the same. Events triggering an MVA include a contract surrender, an excess withdrawal or an excess income withdrawal. An MVA will not apply to any RMDs, free withdrawals or withdrawals after the withdrawal charge schedule. For more information on MVA, please review your contract.

You can withdraw up to 100% of your annuity’s contract value if you are diagnosed with a terminal illness that is expected to result in death within one year and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if you qualify for this benefit. This waiver is available after your first Contract Anniversary and the initial diagnosis of terminal illness must be made after the Contract Effective Date.

You can withdraw up to 100% of your annuity’s contract value if you are confined to an eligible Nursing Home. This benefit is available if you are confined for at least 90 consecutive days any time after your first Contract Anniversary and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if you qualify for this benefit. To receive the Nursing Home Waiver, you cannot be confined at the time your contract is issued and confinement must begin at least one year after the Contract Effective Date.

You have the option of taking a withdrawal above the 10% free withdrawal amount also known as an excess withdrawal, but change to withdrawal charges and a market value adjustment may apply. The surrender penalty for excess withdrawals is on a declining schedule.