DISCONTINUED PRODUCT - Product not available to new enrollees.
The Commodore Helmsman
Product ID: 30
Type:
Variable Annuity
Discontinued 
$99
0.99%
7 Years / 7.00%
No
Roth Eligible
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Address: - Product Details
- Fees and Charges
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Invest with confidence by choosing among 38 Investment Portfolios, managed by nine leading investment advisors. You can diversify your investment and customize your strategy to meet your needs. Portfolio Options range from aggressive to conservative and domestic to international. Three Fixed Account Options may also be available.
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Asset Allocation is your personal plan for developing a diversified investment portfolio by combining different assets in varying proportions. Asset allocation works by ensuring you own a variety of investment options, so that during market fluctuations, your portfolio may experience less fluctuation. Your Personal allocation plan should consider the appropriate mix of investments that match your financial goals, time horizon and risk tolerance.
We have teamed up with Ibbotson Associates, a leading authority on asset allocation, to develop the Asset Allocation Program and model portfolios. Ibbotson uses investment methodology, including historical asset performance and attribution analysis, to determine a model that is consistent with your particular level of risk.
Automatically transfer amounts between the Subaccounts and the Fixed Accumulation Account option to maintain the percentage allocations selected by the Owner. The Minimum Account Value is $10,000. Transfers will take place on the last Valuation Date of each calendar quarter. Portfolio rebalancing will not be available if the dollar cost averaging program or an interest sweep from the Fixed Accumulation Account option is being utilized.
Dollar Cost Averaging consists of automatic transfers from the money market Subaccount(s), or from the Fixed Accumulation Account option to any Subaccount(s), on a monthly or quarterly basis.
Source of funds must be at least $10,000. Minimum transfer per month is $500. When the balance of source falls below $500, entire balance will be allocated according to dollar cost averaging instructions.
Dollar cost averaging transfers may not be made to any of the Fixed Account options. The dollar cost averaging transfers will take place on the last Valuation Date of each calendar month or quarter as requested by the Owner.
For Contracts issued after May 1, 2004 in states where the Company has received regulatory approval, the Company generally guarantees minimum benefit payment factors based on annuity 2000 mortality tables for blended lives (60% female/40% male), with interest at 1% per year, compounded annually. See prospectus for further details.
An Owner may elect to have the Company allocate a portion of a purchase payment to the seven-year guaranteed interest rate option such that, at the end of the seven-year guarantee period, that account will grow to an amount equal to the total purchase payment (so long as there are no surrenders or loans from the Contract). The Company determines the portion of the purchase payment that must be allocated to the seven-year guarantee option such that, based on the interest rate then in effect, that account will grow to equal the full amount of the purchase payment after seven years. The remainder of the purchase payment will be allocated according to the Owner's instructions. The minimum purchase payment eligible for the principal guarantee program is $5,000. See prospectus for details.
The Commodore Helmsman variable annuity has a loan rate of 6.00%. A 3% interest rate is credited back to the participant's account for the Commodore Helmsman. Annuity Investors Life Insurance Company does not charge an origination or maintenance fee. The minimum loan amount offered is $1,000 and the maximum is based on the value of the contract and IRS limits.
GAFRI will comply with IRS Code to allow distributions from qualified annuity contracts by the required beginning date--April 1 following the calendar year in which the Annuitant reaches 70 ½, or follow the calendar year in which the Annuitant separates from service. If the Annuitant decides to meet the required minimum distribution through annuitization of the contract, then substantially equal payments must be made at least annually. If the Annuitant decides to meet the required minimum distribution other than through annuitization, then, by the required beginning date, the Annuitant will need to take distribution for the calendar year preceding the beginning date.
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:
If a Contract is modified by the Long-Term Care Waiver Rider, surrender or withdrawals may be made free of any Contingent Deferred Sales Charge (CDSC) if the Owner has been confined in a qualifying licensed hospital or long-term care facility for at least 90 days beginning on or after the first contract anniversary. There is no charge for this rider, but it may not be available in all states.
Joint and One-Half Survivor Annuity: The Company will make periodic payments until the death of the primary person on whose life benefit payments are based; thereafter, the Company will make one-half of the periodic payment until the death of the secondary person on whose life benefit payments are based.
Life Annuity with Payments for a Fixed Period: The Company will make periodic payments for a specified fixed period, or until the death of the person on whose life benefit payments are based if he or she lives longer than the fixed period.
The Owner may elect the form of payment of the death benefit at any time before his or her death. The form of payment may be a lump sum, or any available form of settlement option. The standard forms of settlement options are described in the Settlement Options section of the prospectus.
Income for a Fixed Period: The Company will make periodic payments for a fixed period of 5 to 30 years. (Payment intervals of 1 to 4 years are available for death benefit settlement options only).
Income for a Fixed Period, Not to Exceed Life Expectancy:
Income for a Fixed Period, Not to Exceed Life Expectancy: The Company will make periodic payments for a fixed period equal to the life expectancy of the person on whose life benefit payments are based, as determined under life expectancy tables adopted by the Health Care Financing Administration. If this option is elected, the Contract is irrevocable and has no value that can be assigned, surrendered, loaned, commuted or withdrawn. The first payment will be paid as of the last day of the initial payment interval.
Income for a Fixed Period, Not to Exceed Life Expectancy: The Company will make periodic payments for a fixed period equal to the life expectancy of the person on whose life benefit payments are based, as determined under life expectancy tables adopted by the Health Care Financing Administration. If this option is elected, the Contract is irrevocable and has no value that can be assigned, surrendered, loaned, commuted or withdrawn. The first payment will be paid as of the last day of the initial payment interval.
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.
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 7.00% |
| 2 | 7.00% |
| 3 | 7.00% |
| 4 | 6.00% |
| 5 | 5.00% |
| 6 | 4.00% |
| 7 | 2.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
The amount of the surrender charge is up to 7% of each purchase payment, depending on the number of years elapsed since receipt of the purchase payment. The surrender charge will be waived if the Contract is issued with a tax sheltered annuity endor
Exceptions to the Surrender Charge:
Other Restrictions:
Exceptions to the Surrender Charge:
Percent of purchase payments:
15.00%
Death:
Yes
Disability:
Yes
Nursing Home or Other Medical Expenses:
Yes
Long-Term Care Waiver Rider: If a Contract is modified by the Long-Term Care Waiver Rider, surrender or withdrawals may be made free of any Contingent Deferred Sales Charge (CDSC) if the Owner has been confined in a qualifying licensed hospital or lo
