Paramount 5

Paramount 5

The Paramount 5 is a Fixed-Indexed Annuity that that gives your client protection from the downside in the market and the opportunity for upside potential. Some of the key points to the Paramount 5 is it gives the client and immediate bonus of 5% on every premium put into the contract from years 1 through 7. These products are traditionally meant for recurring premiums paid into the policy each year, with a minimum of $100 a month into the policy. Cap and Participation rates are subject to change and are available on your dashboard through Nationallife.com

GLIR NOTES:

Paramount 5 has a compounding 6% Roll up on the initial premium guaranteed for the next 10 years. After 10 years the "Roll Up Rate" is subject to change.

See specs below for more detailed look at the product:


Policy Form Number 20082(0112) with Rider Form No. 20069(0112) or a state variation thereof.
Type Multi-account flexible premium deferred indexed annuity with a choice of four crediting methods
Plan options 403(b), Roth 403(b), 457(b), Roth 457(b), IRA, Roth IRA, SEP IRA, Simple IRA, Pension/Profit Sharing Plan, ORP and Non-qualified (For Non-qualified see guidelines below)
Non-Qualified Policy Guidelines Non-Qualified contributions are made with after tax dollars into savings vehicles that are not afforded special IRS tax benefits. National Life Group reserves the right to determine the non-qualified status of submitted premiums. Policies subject to the following guidelines:
  • Non-Qualified monies only accepted for new policy issues.
  • Policy must be set up for a minimum of $100 per month automatic bank draft (PACP);
  • Transfers only permitted into policies with active flex premiums;
  • Total first year premiums (inclusive of anticipated annualized flex and lump sum transfers) cannot exceed $250,000 for ages 0-75 and $150,000 for ages 76-80;
  • Total annual premiums, beginning in second policy year (inclusive of anticipated annualized flex and lump sum transfers) cannot exceed the annual premium limit of $50,000;
  • Only 1 Non-Qualified Flex policy allowed per life
  • Non-qualified polices must use materials with a revision date of 03/13 or later
Riders Nursing Care Benefit Rider at no additional cost. Guaranteed Lifetime Income Rider for an additional cost. All riders subject to state availability. GLIR minimum issue age 40 unless issued as a 403(b) or 457(b) then it is 25.
Account Options* S&P 500 Ending Index Account (Annual Point-to-Point)
S&P 500 Average Index Account (Annual Point-to-Daily Average)
Russell 2000 Ending Index Account (Annual Point-to-Point)
Declared Interest Account (Fixed)
Immediate Interest Credit 5% on all net premiums received in the first seven Policy Years
Account Reallocation Allowed on each account anniversary
Issue age 0-80
Minimum Premium $100 per month PACP or salary reduction/deduction required
Cumulative Maximum Premium Qualified - $1,000,000 age 0-70; $700,000 age 71-75; $400,000 are 76-80; Premiums that are rollovers, exchanges or transfer of monies from other annuities or life insurance may only be paid during the first 5 Policy Years; lump sum transfers only allowed into policies actively receiving flex premium; Non-Qualified policies subject to a total annual premium limit of $50,000 (Annualized Flex plus Lump Sum), beginning in the second policy year.
Free Look 30 days
Free Withdrawals 10% of Accumulation Value available after the first policy year as permitted by law. You must maintain at least $2,500 in the annuity to keep it in force.
Withdrawal Charges
Annuity year

1

2

3

4

5

6

7

8

9

10

Withdrawal charge

10%

9%

8%

7%

6%

5%

4%

3%

2%

1%

Annuity year

1

2

3

4

5

6

7

8

9

10

Standard - All Ages

10%

9%

8%

7%

6%

5%

4%

3%

2%

1%

AK, AL, CA, DE, MN, NJ, NV, OH, OK OR, SC, TX, UT, WA - Ages 59+

8 1/4%

8 1/4%

7 1/4%

6 1/4%

5%

4%

3%

2%

1%

0%

Loans** Variable rate for 403(b)/457(b) policies, min $500 max $50,000 (limits apply) if plan permits
Guaranteed Minimum The Policy value equals 87.5% of premium paid growing at a rate between 1-3% based on a formula on file at the State Department of Insurance, less any withdrawals taken.
Death Benefit Full accumulation value at death of the annuitant

Paramount 5 Client Brochure.pdf
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