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Plan Highlights
Competitive Rate of Interest and Bonus - The plan's current interest rate is competitive, and the Company may declare a higher interest rate that will be applied during the first year of the contract.
Guarantee - Assets always receive a minimum guaranteed rate of interest. The minimum guaranteed interest rate is fixed for the contract from the date of issue. The minimum guaranteed interest rate is determined on January 1 and July 1 of each year and applies to all contracts issued in the following 6 month period.
Flexibility - Choose the amount to be deposited and the frequency in which deposits are made.
Tax Treatment - Tax free interest helps accelerate the accumulation of assets. This is the highlight of participating in a Roth IRA. (Certain restrictions may apply)
Guarantee - Assets always receive a minimum guaranteed rate of interest. The minimum guaranteed interest rate is fixed for the contract from the date of issue. The minimum guaranteed interest rate is determined on January 1 and July 1 of each year and applies to all contracts issued in the following 6 month period.
Flexibility - Choose the amount to be deposited and the frequency in which deposits are made.
Tax Treatment - Tax free interest helps accelerate the accumulation of assets. This is the highlight of participating in a Roth IRA. (Certain restrictions may apply)
Tax Deferred Growth vs. Taxable Growth
Annual Withdrawal Privilege - Instant access to your funds is available. You may withdraw up to 10% of your accumulated account balance, during any calendar year at no charge. Withdrawals which exceed the 10% maximum will be assessed a surrender charge during the first 10 years.
During the first 10 contract years, withdrawals exceeding 10 % of the account value are subject to the following early withdrawal charge.
Surrender Charges -
Roth IRA Limits for 2008
- Single filers: Up to $101,000 (to qualify for a full contribution).
- Joint filers: Up to $159,000 (to qualify for a full contribution).
- Early withdrawal penalties may be assessed unless account has been opened for at least 5 taxable years and the owner's age is at least 59 1/2. Other qualified distributions, include death or disability, where disability is defined in I.R.C. 72(m)(7).
- At any time, the Roth IRA owner may withdraw up to the total of their contribution without tax or penalty.
Contributions - The minimum initial premium is $50.00 monthly or $250.00 one time in order to open an account. Maximum annual deposits may not exceed IRS guidelines for annual deposits to a Roth IRA.
Maturity Date - The maturity date is the later of age 85 or 15 years from the date of issue. It is fixed and may not be changed.
Maturity Date - The maturity date is the later of age 85 or 15 years from the date of issue. It is fixed and may not be changed.
Income Payment Options
- Life Income - Monthly income guaranteed for life
- Life Income with 10 years certain - Income is guaranteed for the greater of 10 years or your lifetime.
- Life Income with 20 years certain - Income is guaranteed for the greater of 20 years or your lifetime.
- Lump Sum Payment - Receive one lump sum payment upon request.
- Leave to a Beneficiary - Gift the account balance to a loved one or charity.
AssetShield Brochure - IANRIRA-AD-0308