Company Description
"Director Immediate Variable Annuity provides flexible income payout options and a wide range of variable investment options that can help your income keep pace with inflation."Product
Director Immediate Variable Annuity
States Available
All states except NY
Minimum Premium
$25,000
Max Premium (without home office approval)
$1,000,000
Issue Ages
Up to age 85
Available Benefit Modes
Annual, Semi-Annual, Quarterly, Monthly
Life & Periods Certain Available
Yes, 5 to 100 years less age of youngest annuitant; if tax qualified, limit to IRS life expectancy
Periods Certain Only Available
No
Joint & Survivor Available
Yes, choice of 100%, 66.67%, or 50% benefit continuation upon first death
Cash Refund Available
Yes, upon annuitant death & 5% assumed investment return
Other Seprate Account Charges
Maximum: 0.00%
Current: 0.00%
Fund Operating Expenses (recent year)
0.34% to 0.90%; varies by fund
Premium Load (for Premium Tax)
0%-3.5% (based on state & tax qualification)
Pricing
To be determined
Assumed Investment Returns
3%, 5%, 6%
Guaranteed Minimum Income Benefit
No
US Large Cap Stock Index Fund / Fee
No
US Mid & Small Stock Index Fund / Fee
No
US Bond Index Fund / Fee
No
Foreign Stock Index Fund / Fee
No
Number of Funds Offered
20
Commission
1% to 7% (decreasing with age of annuitant) plus 1.20% trail
Cash Value
Commuted value (using AIR) of future period certain payments, less surrender fee
M&E Fee
Maximum: 1.25%
Current: Not Available
Other Features
Surrender Fees 6%, 6%, 5%, 5%, 4%, 3%, 2%, 0%
(applies to periods certain election)
Death Benefit on outstanding period certain payments