FlexMark Select is built on a foundation of choice and flexibility. It allows you to choose your retirement path and even change directions when plans change. You will have the opportunity to make selections that will allow you to create your own path to retirement success.
You have the choice of a FlexMark Select product that will help you meet your financial goals:
- a product with a vesting premium bonus to help jump-start your earnings, or
- a no bonus product that offers stronger interest crediting rates.
Features and Benefits
A vesting premium bonus is calculated as a percentage of your premium and is placed into a separate account called the bonus account.
The bonus applies to all premiums received in Year 1.
It begins earning interest immediately (also held in the bonus account).
The bonus account vests into your annuity over a period of 10 years, according to a vesting schedule.
Once it is fully vested, the bonus account will be added to your annuity’s accumulation value.
The policy’s death benefit includes the full bonus account (vested and non-vested).
If you surrender your policy or take withdrawals, the bonus account will reduce proportionately to the surrender or withdrawal amount.
By offering stronger interest crediting rates than similar bonus products, FlexMark Select no-bonus products allow your money more growth opportunity.
A no-bonus product is a wise choice for people who are focused on maximizing their growth potential.
A no-bonus product is recommended for those who anticipate taking withdrawals because the bonus account is reduced by withdrawals.
Fee and No-Fee Options
FlexMark Select gives you the choice of a no-fee or fee version of each index option.
In exchange for paying a fee, you will receive higher caps and/or participation rates than are available on the no-fee option.
This translates to the opportunity for greater earnings.
Index options with a fee are an excellent choice if you are looking to maximize your growth potential.
Fee options are not available in all states.
If you’re not interested in paying a fee, a traditional no-fee option, which offers competitive rates, is a solid choice.
Fee and No-Fee Combination
FlexMark Select allows you the flexibility to diversify your money among all available crediting strategies.
That means you can split your premium among fee options, no-fee options, and the fixed account, allowing you to customize your accumulation path.
To adapt your earnings approach as you see fit, you have the ability to transfer your money into or out of the fixed option, fee option(s), or no-fee option(s), or a combination thereof at the end of each index period.
Guaranteed Lifetime Withdrawal Benefit Riders
Part of planning for the future is ensuring that you can experience the retirement of your choice without running out of money.
After all, is it truly possible to enjoy the retirement you intended if you’re worried that your funds won’t last as long as you do?
FlexMark Select offers multiple rider options to address this concern.
The Guaranteed Lifetime Withdrawal Benefit (GLWB) rider, commonly known as an income rider, allows you to turn on a retirement “paycheck” while your annuity continues to earn interest.
With a steady income stream that you are guaranteed not to outlive, even if your accumulation value depletes to zero so you can focus on enjoying retirement in the way you intended.
Related Article: How much money do you need to retire at 60?
ACCESS MY VALUES
Your FlexMark Select annuity provides better earnings opportunities when you allow your assets to grow over the long term.
However, when the future becomes the present, unforeseen opportunities or issues may arise that will require you to access your money.
You may fully surrender your policy at any time before the maturity date for the surrender value, which is equal to the greater of :
(a) the accumulation value less any surrender charge, and any market value adjustment (MVA), if applicable, or
(b) the minimum guaranteed surrender value
FlexMark Select offers several ways to withdraw your accumulation value without incurring penalties, giving you freedom and flexibility to respond to life’s changes.
Each policy year after the first, you may withdraw up to 10% of your beginning-of-year accumulation value without incurring surrender charges or a market value adjustment.
You are free to use this liquidity feature to carry out an income plan or respond to life’s unexpected events.
The minimum withdrawal amount is $250.
Required Minimum Distributions
If your annuity was issued in connection with a tax-qualified plan, the Internal Revenue Service (IRS) might require you to take minimum distributions beginning at age 73.
Per current company practice, any required minimum distribution (RMD) amount associated with this policy may be withdrawn without penalty, beginning in the first policy year.
For all transfers and rollovers, RMD amounts should be withdrawn before the transfer request.
All withdrawals taken in the same calendar year will count toward your RMD amount.
10% Emergency Access
In addition to annual penalty-free withdrawals, FlexMark Select offers a one-time free withdrawal benefit, available after the first policy year, to help respond to life’s emergencies.
You may withdraw up to an extra 10% of the accumulation value without incurring surrender charges or an MVA if you experience an emergency event.
The extra 10% emergency access is not available in all states.
Waiver of Surrender Charge Riders
Provided to you at no additional cost, the waiver of surrender charge riders may allow you to withdraw funds when your health declines without incurring surrender charges or an MVA.
To qualify for a waiver, you must have been an owner continuously since the policy date.
The annuitant is the qualifying person if the policy is owned by a trust or other legal entity.
The waiver of surrender charge riders may vary by state and may not be applicable in all states.
At any time after policy issue, if you become confined for at least 30 consecutive days to a qualified institution, surrender charges may be waived on withdrawals.
To qualify for the waiver, you must not have been confined within one year before the policy date.
Home Health Care
At least two years after the policy date, if you need home health care services from a licensed home health care service agency due to impairment in performing at least two of six activities of daily living (bathing, dressing, transferring, toileting, continence, and eating), you may qualify for a waiver of surrender charges.
You must not have been confined or required home health care services within one year before the policy date.
If, after the policy begins, you become diagnosed with a terminal illness that results in a life expectancy of 12 months or less, surrender charges may be waived on withdrawals.
LEAVE MY LEGACY
In case you don’t live forever, FlexMark Select offers a reliable death benefit to help leave a legacy for your loved ones.
Death benefit proceeds will be paid directly to your chosen beneficiary and are generally free from the hassles, publicity, and delays of probate.
If you die before the policy’s maturity date (the date on which annuity payments begin), the death benefit is the greater of your accumulation value plus any bonus account or the minimum guaranteed surrender value.
Your beneficiary has the option to receive the death benefit any time within five years of your date of death and may choose to receive a lump-sum payment or a series of payments under an available annuity option.
If the beneficiary is your spouse, he or she may choose to continue the policy as owner.
Ameritas Life Insurance is also an inexpensive way to leave a death benefit to beneficiaries.
DEFER MY TAXES
Index annuities like FlexMark Select allow you to wait until withdrawals are taken to pay taxes.
When your earnings are allowed to grow tax-deferred, interest on those earnings compounds, allowing you to earn interest on your interest, on your principal, and on the sums you would otherwise have to withdraw to pay taxes on a taxable account.
This effect, often referred to as triple compounding, allows for greater earnings potential and may help you outpace inflation.
TRUST MY INSURER
Founded in 1887, Ameritas Life Insurance Corp. and its affiliated companies provide a wide range of insurance and financial products and services to individuals, families, and businesses throughout the United States.
Offering one of the strongest balance sheets in the industry, Ameritas has an established, proven foundation of stability that you can trust.
Its longstanding financial health provides the strength and security that customers expect, reflected in consistently strong ratings earned from independent rating agencies.