Products: Bankers Elite 5
| Interest Rate Guarantee: | LBL 4.80% CLIC 4.80% |
| Renewal rate: | Guaranteed 5 Years |
| Minimum Guaranteed Rate: | The minimum rate is determined each year based on a formula and the constant maturity treasury rate. The rate may not be less than 1% or more than 3%. The rate determined by this methodology for 2024 is 3.00%. |
| Suitability: | Q or NQ (not available as 403(b) or SIMPLE IRA) |
| Maximum Issue Age (Annuitant ALB): | 90 (75 in CA & FL) |
| Minimum Premium: | $10,000 |
| Maximum Premium: | $1,000,000 without prior approval |
| Penalty Free Withdrawals: | None during surrender charge period; thereafter, 100% liquid |
| Market Value Adjustments: | During first five policy years. (No MVA MO or PA) |
| Nursing Home, Disability and Terminal Illness Waivers: | None |
| Maximum Withdrawal Charges: | 5 Years 7.9. 7.0, 6.2, 5.3, 4.4, 0% +/- MVA first 5 years (no MVA - PA) |
| Death Benefit (Annuitant): | Surrender value (Accumulated value in CA on policies issued at 65+ & FL). Surviving spouse may elect to continue the policy as their own and avoid surrender charges. Non-spousal beneficiaries may reduce or avoid charges by deferring payment or taking a periodic income. |
| LBL State Availability: | AK AR AZ CA CO CT DC FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY |
| CLIC State Availability: | AK AL DC HI MA ME MI MO TX VT |
The information above is a brief description. Please refer to the policy form for complete details,including state specific policy language.
