Key features of the Income Select Bonus annuity

Key features of the Income Select Bonus annuity:
*2.1% cap for $75k prem.+
1.9% cap for less than $75k premium
*10% bonus from day 1
*Any new money you put in after the initial premium for the next 2 years will still earn you a 10% bonus.
*Guar. 121.5% return ove rthe first 10 yrs. (min. 1% return over the life of the policy)
*Choose the S&P 500 option (they can also choose the Dow Jone Industrial Average or Nasdaq 100 in increments of 25)
*After 1 yr. you can withdraw up to 10% of accumulated acct. value (20% the next year if you did not withdraw the first year.
*There are 2 values: Accumulated Acct. value and Income Acct. value (with the Income Edge Plus rider).
Income Edge Plus rider: supplement added to policy. The cost is half of a percent a year taken from the accumulated acct. value side. So, $100k w/ 10%- S110k the cost would be $550 )can only get this rider at time of sale).
*With this rider, you will get a guarantee of 7.2%/yr. which means your money will double in 10 yrs. ($100k=$220,465 in 10 yrs.)
*After 10 yrs. you can withdraw funds as a lump sum, income stream, or receive lifetime payments (if you choose lifetime income you will get 5.5% of accumulated value).
*10 yrs. surrender period
*$10k minimum to start this policy
*Age limit 0-85 BUT rider is only available for 40-85 yrs. old.
*You can take the bonus even if you take out your money as lump sum.
*Remember, the 59 1/2 yrs. old rule and RMD (required minimum distribution) before 70 1/2 yrs. old.
*There is a restart feature on or after the 5th contract year if your accumulated value is higher than your income acct. value. (this means that if you have $180k in your accumulated value and only $168k in your income acct. value, then you can restart or rest it and your income acct. value will now be at $180k). BUT, the downside of htis is you will start a new surrender period and the charge for the rider now can be any where from .5% to 1%.
*Confinement feature: doubles your income withdrawal amt. if you are confined to a qualified care facility like a nursing home (so instead of the 5.5% they'll get 11%).
*No asset fees, sales charge, etc.
*100% participation rate
*Commission is 8%

Good luck and Happy Selling!

Jenny