AssetShield Flexible Premium Deferred Annuity Roth IRA
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)
Tax Deferred Growth vs. Taxable Growth
(The values indicated herein do not constitute any representation of past or future performance.)
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 -
No Hidden Fees - No set up charges, account maintenance fees, minimum balance assessments or annual fees.
Roth IRA Limits for 2012
Single filers: Below $110,000 (to qualify for a full contribution).
Joint filers: Below $173,000 (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 $10.00 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 - In all states except AK, AR, NV, PA, and TX, 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. In AK, AR, NV, PA, and TX, the maturity date is when the Owner turns age 85. The maturity date is changeable, but not below age 70.
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.
Life Income with 30 years certain - Income is guaranteed for the greater of 30 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.