DISCONTINUED PRODUCT - Product not available to new enrollees.
SecurePlus Elite 5
Product ID: 165
Type:
Equity Indexed Annuity
Discontinued 
1%
AM Best:
Moody's:
S&P:
12 Years / 12.00%
Yes
Roth Eligible
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Address: - Product Details
- Fees and Charges
Flexible Premium Indexed Annuity. The descriptions herein are general due to space limitations. For exact details of the annuity see the policy form.
Select the topics below to expand and view additional product details
Available for 403(b), subject to IRC and plan document rules. Loans must not exceed the lesser of $50,000 or one-half of total Cash Value. Interest earned on loaned amounts is credited at the same rate that is applied to unloaned amounts. The rate of interest charged for the loan is based on the published monthly average of the Moody's Corporate Bond Yield Average. Personal loans must be repaid within 5 years, while loans to acquire a home may be repaid over a longer period. Level quarterly payments are required.
Required Minimum Distribution mandated by the IRC and which must begin at age 70 ½ or by the April 15th of the year following attainment of age 70 ½.
Yes
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:
Guaranteed Lifetime Income Rider:
Guaranteed Lifetime Income Rider – Optional rider that provides for guaranteed lifetime income stream without annuitization. Available at an additional cost.
Guaranteed Lifetime Income Rider – Optional rider that provides for guaranteed lifetime income stream without annuitization. Available at an additional cost.
Equal monthly payments made during the joint lifetime of two persons and the remaining lifetime of the survivor.
Equal monthly payments for the lifetime of the Annuitant. Payments stop when the Annuitant dies
Equal monthly payments made for a certain period (i.e., 10 years, 20 years) and then for as long as the Annuitant is alive.
Equal monthly payments until LSW has paid the amount applied and then for as long as the Annuitant is alive.
Full Cash value paid in a single sum on the annuity date.
Equal monthly payments for the numbers of years selected.
Additional Bonus Credit
Persistency Bonus: The SecurePlus Elite 5 has a 5% Bonus Accumulation Value (BAV). The BAV equals 5% of the accumulation value in years 1-10 and is transferred to the accumulation value on the sweep dates following the 11th through 15th policy anniversaries.
| Investment Year | Bonus Rate |
|---|---|
| 1 | 5% |
| 2 | 5% |
| 3 | 5% |
| 4 | 5% |
| 5 | 5% |
| 6 | 5% |
| 7 | 5% |
| 8 | 5% |
| 9 | 5% |
| 10 | 5% |
These rates may change without notice. Contact your provider for the most current rates.
1.00%
Point-to-Point
S & P 500
Russell 2000
Russell 2000
3 Strategies - all Annual Reset. Point-to-Point- Compares the % change in the S&P 500 or Russell 2000 Index from the beginning index value to the ending index value 12 months later. This % change is multiplied by a participation rate. The result is subject to a maximum (the Cap) and a minimum (the Floor). Declared Rate- A specified interest rate declared and guaranteed for at least 12 months on each premium.
The floor is the minimum interest rate that can be credited to an Indexed Account during an Indexed Account year. The floor is declared annually in advance and can never be less than zero percent.
The cap is the maximum interest rate that may be applied to an Index Account. The cap is reset annually on the Index anniversary of each premium and is guaranteed for at least 12 months. The minimum cap is 3.00%.
100.00%
Annually on each premium payment.
The minimum term is 5 years but must start at least 5 years after issue to avoid surrender charges.
The minimum term for annuitization is 5 years and may start at anytime.
Surrender charges are applied to the amount of the Accumulation Value that is annuitized to the extent that the annuitized portion exceeds amounts that may be available for withdrawal without the imposition of withdrawal charges.
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
|
|
0.65% - 0.75% | Annually | Range of Possible Percentages | No | No | Yes |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 12.00% |
| 2 | 11.00% |
| 3 | 10.00% |
| 4 | 9.00% |
| 5 | 8.00% |
| 6 | 7.00% |
| 7 | 6.00% |
| 8 | 5.00% |
| 9 | 4.00% |
| 10 | 3.00% |
| 11 | 2.00% |
| 12 | 1.00% |
*Expressed in contract years
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
