The Highlander 7 is a single premium, deferred, fixed indexed annuity that allows you to accumulate funds, benefit from tax deferral, and maintain a simplified allocation.
Annuities are an important tool in planning and sustaining income for the future.
Deferred annuities accumulate money tax-free for a period of time.
Your premium will be credited earned interest and will receive income tax deferral, which results in a secure and dependable account balance.
The Highlander 7 Fixed Indexed Annuity gives you the opportunity to grow your assets and build income for the future.
The simplicity of two indices, the guarantee of a fixed account, and growing income potential provides balance and peace of mind!
In our early accumulation years, it is okay to take on risk for the potential of greater returns.
Nearing retirement many flip the switch and go a completely conservative route.
With the Highlander 7 Fixed Indexed Annuity, there is an option for a balance of capturing a portion of the gains in the market and protecting you against any market downturns.
Benefits and Features
Tax Deferral
Federal income tax on interest accumulated in the Highlander 7 is deferred until you take withdrawals out of the contract.
This means that you will be earning interest on money that you would otherwise have to pay taxes on.
If you withdraw money from the contract before you are age 59 ½, you may have to pay a tax penalty.
Free Withdrawals
A single penalty-free withdrawal, of up to 10% of the account value, may be taken each year beginning in the second contract year.
Surrender charges or market value adjustment will be waived on free withdrawal amounts.
Nursing Home Care
Should the owner become confined to a nursing home, Guggenheim’s Highlander 7 provides access to the full account value, without surrender charges or applicable market value adjustments.
The benefit becomes available after the first contract anniversary.
The contract must be issued prior to the owner’s age of 76 and the confinement in a nursing home must be for at least 90 continuous days. Not available in MA.
Terminal Illness
If the owner is diagnosed with a critical illness or is deemed terminally ill by a physician, Highlander 7 allows withdrawals up to the full account value without surrender charges or market value adjustments.
Please refer to the annuity contract for full details.
Death Benefit
The Highlander 7 annuity pays your named beneficiary the full account value on death.
Options for income payments may be available instead of taking a lump sum.
If the spouse is the sole Primary Beneficiary, they have the option to continue the annuity in the surviving spouse’s name.
