Universal Annuity
Product ID: 65
Vendor:
Type:
Variable Annuity
$227
0.72%
6 Years / 5.00%
Yes
Roth Eligible
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Enrollment and Questions
Use the following contact information to enroll or ask questions.
E-mail:
Address:
Website:
Phone:
(833) 208-3018
E-mail:
Address:
Brighthouse Financial
PO Box 4261
Clinton, IA 52733-4261
PO Box 4261
Clinton, IA 52733-4261
In-person:
Questions about enrollment?
View the Contact Information tab on the Vendor Details page for a list of office locations.
View the Contact Information tab on the Vendor Details page for a list of office locations.
- Product Details
- Fees and Charges
- Investment Options
Universal Annuity variable annuity offers a wide array of funding options, including asset allocation portfolios and a fixed interest account. The Universal Annuity variable annuity also has additional features that can help with diversification such as Dollar Cost Averaging and Automatic Rebalancing.
Select the topics below to expand and view additional product details
Available as a feature of this Product. See your Representative for details.
Automatic portfolio rebalancing allows you to periodically realign (or "rebalance") your portfolio to bring your investments in line with your asset allocation strategy. This program is offered at no additional cost. Let's say you assign 60% of your portfolio value to a large company stock fund, 30% to an aggressive stock fund, and 10% to a high quality bond fund. Over time, investment performance will change the value of your holdings and alter the the 60/30/10 allocation. Market conditions impact the performance of the different asset categories at different times. In response, the rebalancing program will systematically alter the allocation of each fund to return your portfolio to the pre-determined balance.
Universal Annuity has a Dollar Cost Averaging Program that allows you to transfer a set dollar amount within funding choices on a monthly or quarterly basis during the accumulation phase. You can set the program automatically or do it as often as you like once you enroll in the Program. In order to use this Program, you must have a minimum total contract value of $5,000.
See your Representative for details.
See your Representative for details.
Available as a feature of this Product, but subject to Plan rules. See your Representative for details.
Hardship withdrawals may be available based on the terms of your Contract/Certificate, as well as the terms of the Qualified Retirement Plan that your Contract/Certificate is subject to.
An "Auto Required Minimum Distribution" Program may be available under the terms of your Contract/Certificate, as well as the terms of the Qualified Retirement Plan that your Contract/Certificate is subject to. The "Auto Required Minimum Distribution" Program is a program that will automatically calculate and pay out your Required Minimum Distribution on an annual basis.
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:
Cash Loan Rider:
This Rider, if added to the base Contract, allows for Loans to be taken from the Product. Loans are available at the discretion of the Plan Sponsor.
This Rider, if added to the base Contract, allows for Loans to be taken from the Product. Loans are available at the discretion of the Plan Sponsor.
The Company will make regualar Annuity Payments during the lifetime of the Annuitant and a second person. When either person dies, we will continue making payments to the survivor. No further payments will be made following the death of the survivor.
The Company will make Annuity Payments during the lifetime of the Annuitant ending with the last payment before death. This option offers the maximum periodic payment, since there is no assurance of a minimum number of payments or provision for a death benefit for beneficiaries.
Available as a feature of this Product. See your Representative for details.
Available as a feature of this Product. See your Representative for details.
Available as a feature of this Product. See your Representative for details.
Payments for a Fixed Period without Life Contingency. We will make periodic payments for the period selected.
Other Annuity Options:
The Company may make other arrangements for Annuity payments as mutually agreed upon by both parties.
The Company may make other arrangements for Annuity payments as mutually agreed upon by both parties.
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
|
|
$30.00 | Annually | Flat Dollar Amount | No | No | Yes |
|
|
1.25% | Annually | Percentage of Annual Assets | Yes | No | No |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 5.00% |
| 2 | 5.00% |
| 3 | 5.00% |
| 4 | 5.00% |
| 5 | 5.00% |
| 6 | 0.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
This deferred sales charge is deducted only from Purchase Payments withdrawn, not on growth. For this calculation, the five years is measured from the first day of the month the payment is made.
Exceptions to the Surrender Charge:
Other Restrictions:
Exceptions to the Surrender Charge:
Death:
Yes
Disability:
Yes
10% Free Withdrawal available beginning in the second Contract year and is subject to applicable tax laws.
Other exceptions to the Surrender Charge may be available. Please refer to your Contract for details.
