Nassau Life Growth Annuity 10 is a single premium accumulation focused fixed indexed annuity with a guaranteed lifetime withdrawal benefit rider.
Nassau Life Growth Annuity 10 is a fixed indexed annuity designed to help achieve retirement savings objectives with features and options for enhanced accumulation, protection, and income:
- CAPTURE THE POSITIVE PERFORMANCE OF A MARKET INDEX to accumulate retirement savings
- GUARD AGAINST MARKET LOSSES with principal protection
- GROW AND SECURE FUTURE GUARANTEED LIFETIME INCOME with an optional rider
- ENSURE NEEDED LIQUIDITY with flexible access to your money
GROWING YOUR SAVINGS:
Put your money to work.
Whether you have some catching up to do with your retirement savings or you are simply looking for new accumulation opportunities, Nassau Growth Annuity 10 offers options to help build up your money and protect that growth from taxes and market losses.
HOW INDEXED ACCOUNTS GROW YOUR RETIREMENT SAVINGS
GROW WITH THE MARKET
Indexed accounts earn interest when the index experiences a positive market performance.
Amplified participation rate indexed accounts earn interest at higher rates based on positive performance and are available for a strategy fee.
PRINCIPAL PROTECTION
When the index loses value, the interest credited to your account is guaranteed never to be less than 0.
In such years the strategy fee on amplified participation rate indexed accounts will reduce the account’s value by just 1.00% per year in the crediting segment.
THE POWER OF TAX DEFERRAL
In an annuity, everything you earn is tax-deferred, so your money can grow faster.
Your annuity’s tax-deferred earnings are not included in your combined income when determining the amount of your social security income that is subject to taxes.
If you purchase your annuity with after-tax funds, only a portion of your annuity income will be taxable.
AMPLIFY GROWTH FOR FUTURE INCOME
The Income Benefit Base is a calculated value used solely to determine your guaranteed lifetime income payment and rider fee and is not available for withdrawal.
Prior to exercising your rider, you can help to maximize your potential guaranteed lifetime income payment by minimizing withdrawals as all withdrawals, including free withdrawals and Required Minimum Distributions (RMDs), are taken from your annuity’s contract value and will also reduce the Income Benefit Base.
After beginning the rider’s guaranteed payments, be sure to withdraw only amounts up to the guaranteed lifetime income amount or RMD associated with the contract, otherwise the Income Benefit Base and future guaranteed income would be reduced.
The annual fee for the rider is 0.95% of the Income Benefit Base, deducted from the contract value.
HOW THE AMPLIFIED INCOME PLUS RIDER WORKS
Nassau Growth Annuity 10 may also help you to build on the growth of your contract for your future income needs.
The Amplified Income Plus rider provides guaranteed income for the rest of your life and includes features to boost your potential income payment.
The Amplified Income Plus rider is available for purchase with the 10 Year, 5% Free Withdrawal option.
For married couples, a spousal option provides an income stream for the life of both spouses.
FLEXIBLE ACCESS TO YOUR MONEY
FREE WITHDRAWALS
Each year during your annuity’s surrender charge period, you may withdraw up to your contract’s free withdrawal amount, free of surrender charges and Market Value Adjustment (MVA), and (if applicable) pro-rated rider and strategy fees.
After the specified Surrender Period, surrender charges and MVA no longer apply.
RMD WITHDRAWALS
Withdrawals for Required Minimum Distributions (RMDs) associated with this contract will not incur withdrawal fees or Market Value Adjustment (MVA).
NURSING HOME WAIVER AND TERMINAL ILLNESS WAIVER
Surrender charges are waived (though an MVA will still apply) if the contract owner becomes ill and is confined to a hospital or nursing home for at least 90 consecutive days or is diagnosed with a terminal illness (a life expectancy of 6 months or less), on or after the first contract anniversary.
RETURN OF PREMIUM
Nassau’s Growth Annuity 10 includes a return of premium features so you can be confident that your money is safe.
Upon Surrender
Should you choose to withdraw all of your contract value after the surrender period has passed, you are guaranteed to receive no less than your premium minus prior withdrawals.
Exercise of the Amplified Income Plus rider will cancel this benefit.
Upon Death
Your annuity’s contract value may be transferred to your loved ones if you should die while your contract is in force.
Your annuity’s death benefit will never be less than the premium (less prior withdrawals) and is payable immediately upon death.
The funds will be available to your loved ones immediately upon a claim since annuity death benefit proceeds are not subject to probate.
