Single Premium Products
Preferred 6
This is a Single Premium Fixed-Indexed Annuity that has the protection on market downside but the potential for upside. This product is meant solely for one single premium put into it that grows based on market performance with cap and participation rates. Preferred 6 allows from 6% of accumulation value in years 1-10 to be transferred into the Accumulation Value in years 11-15. Cap and participation rates are available on your dashboard through Nationallife.com
GLIR NOTES
Preferred 6 has a 6% immediate bonus and a compounding 6% Roll up on the initial premium guaranteed for the next 8 years. After 8 years the "Roll Up Rate" is subject to change.
See specs below for more detailed look at the product:
| Policy Form Number | 8965 with rider form 8967, or state variations thereof | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Type | Multi-account single premium deferred indexed annuity with six interest crediting methods | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Plan options | 403(b), Roth 403(b), 457(b), IRA, Roth IRA, SEP IRA, Simple IRA, Pension/Profit Sharing Plan and Non-qualified | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Account Options | Ending Index Account (Annual Point-to-Point) Option 2; higher index rate and lower cap, S&P and Russell Ending Index Account (Annual Point-to-Point) Option 1; lower index rate and higher cap, S&P and Russell Average Index Account (Annual Point-to-Daily Average), S&P only Declared Interest Account (Fixed) |
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| Account Reallocation | Allowed on each policy anniversary (with written notification to LSW 15 days prior to anniversary) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issue Ages | 0-80 (actual age) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans | Variable rate for 403(b)/457 policies, min $500 max $50,000 (limits apply) if plan permits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bonus Accumulation Value | Equals 6% of the accumulation value in years 1-10, transfers to the accumulation value in years 11-15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SELI Benefit | If the Annuitant qualifies for and elects the Special Enhanced Life Income option, the life payout can be significantly higher than an otherwise standard payout. Please review the disclosure application for a full description of this option and qualification requirements. Not available in CA or NJ. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Premium | $10,000 Qualified or Non-Qualified | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum Premium | $1,000,000 age 0-70; $700,000 age 71-75; $400,000 age 76-80; | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 $5,000 in the annuity to keep it in force. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Withdrawal Charges |
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| Riders | Nursing Care & Terminal Illness at no additional cost. Guaranteed Lifetime Income Rider available for an additional cost at issue. GLIR minimum issue age 40. All riders subject to state availability. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Guaranteed Minimum | The Policy Value equals 87.5% of the premium paid growing at a rate between 1-3% based on formula on file at state DOI. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Death Benefit | Full accumulation value, including any unvested Bonus Accumulation Value, at death of the annuitant, or Preferred 6 GLIR death benefit. |