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DISCONTINUED PRODUCT - Product not available to new enrollees.

Advantage IV Variable Annuity
Product ID: 129

Vendor:
Global Atlantic Financial Group
Type:
Variable Annuity 
Discontinued Discontinued


$256
0.96%
7 Years / 6.00%
Yes





Advantage IV offers you significant flexibility in designing a retirement savings solution. You can choose from over 60 variable investment options in building your retirement plan. Advantage IV provides you with the ability to protect your retirement nest egg while you seek to accumulate wealth, and includes a fixed account that provides a guaranteed return and a death benefit plan to protect beneficiaries.

Select the topics below to expand and view additional product details


You can establish a desired investment mix and have your assets automatically adjusted on a monthly, quarterly, semi-annual, or annual basis. There is no charge for this program.
This option transfers an equal protion of your DCA account on a regular basis into the subaccount(s) of your choosing. This allows you to take advantage of fluctuating market prices by making scheduled investments. This feature can reduce the average price of your subaccount units over time.

May be available under qualified plans. Minimum $1,000. No annual administrative or set-up charge. Loan balance is charged 5.5% and value securing loans is credited 3%.

May be available under qualified plans.

Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:

DISABILITY WAIVER provides for a waiver of withdrawal charge if the contract owner is physically or mentally disabled with an impairment that has lasted or can be expected to last for a continuous period of not less than 12 months. Contract must be inforce for 2 years prior to disability. Disability must occur prior to 66th birthday. There is no charge for this waiver. See prospectus for details.
EXTENDED CARE WAIVER provides for a waiver of withdrawal charges if the owner is hospitalized or admitted to a skilled healthcare facility for a period of at least 90 days. Contract must be inforce for 2 years prior to hospitalizaiton or admission to a skilled healthcare facility. Confinement must begin prior to 75th birthday. There is no charge for this waiver. See prospectus for details.
Step-up Death Benefit:
The STEP-UP DEATH BENEFIT RIDER is the greater of (a) or (b) less premium taxes: a) Contract value less debt b) Highest contract anniversary value prior to oldest owner's 81st birthday, adjusted for subsequent purchase payments and withdrawals, less debt. The charge for the Step-Up Death Benefit is 0.20%, on an annual basis, of separate account contract value. See prospectus for details.
This option provides an annuity payable monthly while both Annuitants are living.
This option provides for an annuity payable monthly over the lifetime of the Annuitant.
This option provides an annuity payable monthly for ten years.


All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.

Fees

0.15% Annually Percentage of Annual Assets Yes No Yes
Fee Waiver
Does not apply to funds in the fixed account.

$30.00 Annually Flat Dollar Amount Yes No Yes
Fee Waiver
Fee is waived when contract value is $50,000 or greater.

1.15% Annually Percentage of Annual Assets Yes No Yes
Fee Waiver
Does not apply to funds in the fixed account.

Surrender Charges

Surrender Period* Surrender Percentage
1 6.00%
2 5.00%
3 4.00%
4 3.00%
5 2.00%
6 1.00%
7 0.00%

*Expressed in contract years


Surrender Penalty Charge assessed on a "rolling" basis: Each purchase payment into the Commonwealth Annuity Advantage IV contract is subject to a six year declining withdrawal charge schedule. The withdrawal charge begins at 6% in the first purchase payment year and decreases 1% each year to reach 0% at
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
Disability:
Yes
Nursing Home or Other Medical Expenses:
Yes
Other Restrictions:
For Qualified Contracts, we will waive withdrawal charges on partial withdrawals and full surrender if a Contract is in the sixth Contract Year or later and the Owner is at least 59 1/2 years old at the time of withdrawal or surrender.

Subaccounts


Fixed Investment Options

Variable Investment Options


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