The Flexible Premium Deferred Annuity is a good selection for women who:
Initial premium deposit - This plan may be started with an initial premium deposit as low as $500.00, or $25.00 per month on an automatic bank draft. We recommend making consistent premium deposits to develop the savings habit and for maximum accumulated value. Single premium deposits, up to $300,000, may be made. The plan accommodates rollovers from other qualified retirement plans or when money is moved from other financial instruments such as matured certificates of deposit. If you plan on making consistent premium deposits, you may do so with monthly automatic bank drafts, or we will send you reminders for quarterly, semiannual, or annual premium deposits. Credit card payment is available in some states for automatic or billed premium deposits.
Interest crediting method - The interest rate includes a first year interest bonus, payable for the first policy year only. On each subsequent policy anniversary the interest credited is subject to change and could go up or down. However, the interest rate can never fall below the guaranteed annual rate of 3%.
Surrender and withdrawal charges - Charges are imposed during the first ten policy years. Withdrawal and surrender charges gradually decrease in accordance with the following chart:
| Surrender & Withdrawal Charges | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Certificate Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
| Surrender/Withdrawal Charge | 7% | 7% | 7% | 7% | 6% | 5% | 4% | 3% | 2% | 1% | 0% |
Special endorsements - This plan may be endorsed for Traditional and Roth IRA's and Tax Sheltered Annuity (TSA) plans. TSA plans do not stipulate a minimum contribution amount.
This deferred annuity plan is not available in all states.
Current interest rates are not guaranteed and could go up or down. However, the current interest rate can never go below the guaranteed minimum 3% rate.
Distribution prior to age 59 ½ may be subject to 10% federal tax penalty.
This deferred annuity plan is not FDIC insured, nor is it insured by any other agency of the United States. It is not a bank deposit. It is not guaranteed by a bank or any bank affiliate. It may lose value.
Nursing home waiver is not available in NJ, NY, or PA.
Terminal illness waiver is not available in NJ or NY.
For more information, request an appointment with a Woman's Life representative by completing our Contact Form.