Income 150+ SE

 

Need to Know

Who: Clients age 55-85

Benefit: Interest crediting potential of a fixed index annuity with the ability to boost retirement income.

Min. issue: $10,000

Max issue: $1 million 55-80; $500,000 81-85

Surrender charge period: Ten years6

 

 

A flexible income strategy for your client's retirement needs

Income 150+ fixed index annuity offers benefits to help clients generate income for retirement and provide additional income for a qualifying healthcare need.1

The Withdrawal Base is a numerical value used to calculate your clients’ retirement income.2 Before taking retirement income, their Withdrawal Base grows by guaranteed amounts known as “Income Boosts”,3 which actually begin with a day one 20% bonus. The bonuses in years 2-5 add another 7.5% annually.4 If income is delayed until year 10, they’ll get an additional bonus equal to 150% of the interest credits they’ve earned for the first nine years of the annuity contract, adjusted for withdrawals.

Income 150+ also features the Income Enhancement Benefit.1 This built-in benefit provides your clients with double income, for up to five years5, if they face healthcare needs and are certified by a healthcare professional as being unable to perform at least two of the six Activities of Daily Living (ADLs).6 Once the income enhancement benefit ends, their income continues at the original guaranteed amount.

Income is provided through annual guaranteed lifetime withdrawal amounts, known as Lifetime Annual Payments (LAP). The LAP amount is based on age upon activation and whether single or joint life is elected. Income 150+ offers joint income for spouses, for 0.50% less of the stated lifetime withdrawal percentage for single income.

 

 

 

Products

1 Not available in California. The Rider is not long-term care insurance and is not intended to replace such coverage. It is referred to as the Annual Payment Accelerator Rider in the contract. The benefit is available only if your contract value is above the minimum allowed under the Income Enhancement Benefit. Once a benefit period ends, a new benefit period is no longer available. The Income Enhancement Benefit can be used one time only per contract. Available for ages 75 or younger. Recertification by a healthcare professional is required prior to years three, four, and five, if applicable. There is a one-year waiting period and 90 day elimination period prior to receiving benefits.

2 The income benefit is included on date of issue for an annual charge of 1.05% of the Withdrawal Base at the end of each contract year.

3 The Withdrawal Base and Deferral Bonuses, also known as Income Boosts, are not available for cash surrender or as death benefits.

4 Assuming no withdrawals are made prior to income activation.

5 Activities of Daily Living (ADLs) are identified as bathing, eating, continence, toileting, dressing and transferring.

6 In CA the withdrawal charge schedule is 9,8,7,6,5,4,3,2,1,0%

 

This material is intended to provide educational information regarding the features and mechanics of the product and is intended for producer use only. It should not be considered, and does not constitute, personalized investment advice. The issuing insurance company is not an investment adviser nor registered as such with the SEC or any state securities regulatory authority. It’s not acting in any fiduciary capacity with respect to any contract and/or investment.

 

A fixed index annuity is intended for retirement or other long-term needs. It is intended for a person who has sufficient cash or other liquid assets for living expenses and other unexpected emergencies, such as medical expenses. A fixed index annuity is not a registered security or stock market investment and does not directly participate in any stock or equity investments or index.

Products and features are subject to state availability and variations. Read the Contract for complete details.

This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. The information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult a tax or legal counsel for advice.

Taxable distributions (including certain deemed distributions) are subject to ordinary income taxes, and if made prior to age 59½, may also be subject to a 10% federal income tax penalty. Payments from IRAs are taxable in accordance with the normal rules surrounding taxation of payments from an IRA. Early surrender charges may also apply. Withdrawals will reduce the death benefit and any optional guaranteed amounts in an amount more than the actual withdrawal. If you are investing in a fixed index annuity through a tax-advantaged retirement plan such as an IRA, you will receive no additional tax advantage from a fixed index annuity. Under these circumstances, you should only consider buying a fixed index annuity if it makes sense because of the annuity’s other features, such as lifetime income payments and death benefit protection.

Income 150+ SE fixed index annuity is issued by Forethought Life Insurance Company, 10 West Market Street, Suite 2300, Indianapolis, Indiana. Income 150+ is available in most states with Contract FA1801SPDA-01 and ICC17-FA1801SPDA-01 and rider forms FA4101-01, ICC17-FA4101-01, FA4106-01, ICC17-FA4106-01, FA4107-01, ICC17-FA4107-01, FA4108-01, ICC17-FA4108-01, FA4109-01, ICC17-FA4109-01, FA4110-01, ICC17-FA4110-01, FA4116-01, ICC17-FA4116-01, FA4111-01, ICC17- FA4111-01, FA4112-01, ICC17-FA4112-01, FA4105-01 v2, ICC17-FA4105-01, FA4115-01, ICC17-FA4115-01, ICC14-FL-FIANC, FL-FIANC-13, ICC14-FL-FIATI and FL-FIATI-13.

Global Atlantic Financial Group (Global Atlantic) is the marketing name for Global Atlantic Financial Group Limited and its subsidiaries, including Forethought Life Insurance Company and Accordia Life and Annuity Company. Each subsidiary is responsible for its own financial and contractual obligations. These subsidiaries are not authorized to do business in New York.

Indices are not available for direct investment.

FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

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