| Product Summary |
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The MNL Guarantee Ultimate annuity is a single premium annuity with multiple
rate guarantee periods of 3,4,5,6,7,8,
9 & 10 years.
At the end of each guarantee period there is a 30-day window to be able exit, penalty free. If no action is take it will renew for a like period at the new interest rate.
The Ultimate allows for joint annuitants, however, it is recommended there be only one annuitant to simplify a possible future transfer to another company. If there is a second annuitant the death benefit pays out upon the second death. |
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| Principal Guarantee* |
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| Principal Guarantee: |
no |
| MVA: |
yes |
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| Rate Lock Policy |
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45 days - Paperwork must be dated prior to the effective date of the new lower rate. Fax the paperwork using fax number 877 586-0247 and over night the original paperwork to: 4601 Westown Pkwy, Ste. 300, West Des Moines, IA 50266 |
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| Surrender Schedule |
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| Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
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10 |
10 |
10 |
10 |
10 |
9 |
8 |
6 |
4 |
2 |
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| Contributions |
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| Max.: |
$1,000,000 |
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| Min. NQ: |
$10,000 |
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TSA 403b: |
no |
| Min. IRA: |
$2,000 |
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401(k): |
yes |
| Min. add.: |
n/a |
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| Add. Extend Surr.: |
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| All IRAs: |
yes |
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| Liquidity Features |
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| Annual Free WD: |
int. only- after 30 days |
| Earnings: |
yes |
| Cumulative: |
no |
| Systematic: |
yes |
| Loan Provision: |
no |
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| Waivers |
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| Nursing Care: |
90 days - 1st year 10%only |
| Terminal: |
no |
| Disability: |
no |
| Unemployment: |
no |
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| Notes |
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Surrender charge periods:Those Guarantee periods shorter than 10 years have surrender schedules that match the 10 year schedule.
For example, the 8 year would be 10,10,10,10,10,9,8,6.
There is a 30-day window following the surrender charge periods to transfer out or the contract automatically renews with a new surrender charge schedule.
Contract may be annuitized after one year if a life option is chosen or if the annuity has been in force for five years.
MVA and surrender charge could invade principal.
Some States have an alternate Surrender Charge:.
CA 10,10,9,9,8 .
IL 9,8,7,6,5 .
FL 9,8,7,6,5
Effective 08/10/2010, the minimum interest guarantee rate is 1.00%. |
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| Company Ratings |
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| AM Best: |
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A+ |
| S&P: |
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A+ |
| Moodys: |
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| Fitchs: |
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| Current Rates (effective 09/01/2010) |
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| Current first year rate: |
3.00% |
| Includes first year bonus of: |
0.00% |
| Base Rate: |
3.00% |
| Length of rate guarantee: |
5 years |
| Minimum guaranteed rate: |
1.00% |
| Average Yield: |
3.00% |
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| State Approval |
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AR, AZ, CA, CO, DC, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, SD, TN, VT, WI, WV, WY
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| Age Restrictions |
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| Owner qualified $: |
90 |
| Owner non-qualified $: |
90 |
| Annuitant qualified $: |
90 |
| Annuitant non-qualified $: |
90 |
| Maturity Age: |
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| Owner/Annuitant Driven |
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both annuitant and owner |
| Mailing Address |
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Overnight Address:
401 Westown Parkway
Ste. 300
West Des Moines, IA 50266
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