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Summit Prime 10 Premium Bonus Rider

Provides an additional interest credit to the policy at issue, including interest on any additional premiums credited during the first year of the contract.

The initial Premium Bonus will be applied to the policy’s Fixed and Indexed accounts in the same percentages as the initial premium. All Premium Bonuses added for additional premiums received during the first year will be credited to the policy’s Fixed Account and may be reallocated on the next contract anniversary, if desired.

Only available with Summit Prime 10. It is not available for 5 or 7 year terms.

Selection for the Summit Prime Premium Bonus Rider must be made at policy application.

The Premium Bonus is an interest accumulation or an advanced interest credit to the policy. It is considered part of the interest earnings of the contract and not a premium payment.

If the Owner/Annuitant chooses to not accept the policy during the 30-day free-look period, the Premium Bonus will not be included with the premium when it is returned.

The Premium Bonus will equal the percentage of premium shown in the Premium Bonus rider form, currently 6%. Thus, a $100,000 premium would receive an immediate $6,000 interest bonus.

The Premium Bonus earned on subsequent premiums in the first year will be allocated to the Fixed Account. The Premium Bonus and interest earned on it will remain in the fixed account until the client reallocates their Accounts.

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