Nassau MYAnnuity® 5X/7X
Product Specifications
Rates for new contracts effective: May 1, 2024
Clients have a choice of a 10% Free Withdrawal Amount or No Free Withdrawal Amount.
Election must be made at issue. Rates are based on elections made as referenced in the table below.
Core Product
| Min | Max | |
|---|---|---|
| Issue Ages | 0 | 85 |
| Premium | $10K | $1M |
| Annual Free Withdrawal or No Free Withdrawal2 | 10% or 0% |
| MVA | Yes |
Product Versions and Rates
Surrender Charge Schedule
Notes
1. Withdrawals made during the life of the contract will reduce the amount payable upon annuitization.
2. All or a portion of amounts withdrawn are subject to ordinary income tax, and if taken prior to age 59 1⁄2, a 10% IRS penalty may also apply. We do not provide tax, financial or investment advice, or act as a fiduciary in the sale or service of the product. Consult a tax advisor or financial representative about your specific circumstances.
Nursing Home Waiver not available in CA or FL.
An annuity contract issued as part of a qualified retirement plan or IRA does not receive any tax benefits in addition to those provided under such qualified retirement plan or IRA without an annuity contract.
Important Disclosures
Nassau reserves the right to revise declared rates at any time.
FOR PRODUCER USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC AS SALES LITERATURE.
An investment in the contract is subject to possible loss of principal and earnings, since a surrender charge and market value adjustment may apply to withdrawals or upon surrender of the contract.
Nassau MYAnnuity 5X/7X (18IFDAP, ICC18IFDAP, ICC18IFDANP) is issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to do business in ME, and NY. In New York (5X), Nassau MyAnnuity (17IMGA) is issued by Nassau Life Insurance Company (East Greenbush, NY). Guarantees are based on the claims paying ability of the issuing company.
Nassau Life Insurance Company and Nassau Life and Annuity Company are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations.
Product features, options and availability may vary by state.
Annuities are long-term products. Annuities held within qualified plans do not provide any additional tax benefit. With certain exceptions, surrender charges apply to withdrawals taken during the initial Guarantee Period and a market value adjustment, which may increase or decrease the amount received upon withdrawal, may also apply at any time.
All or a portion of amounts withdrawn are subject to ordinary income tax, and if taken prior to age 59 1⁄2, a 10% IRS penalty may also apply. We do not provide tax, financial or investment advice, or act as a fiduciary in the sale or service of the product. Consult a tax advisor or financial representative about your specific circumstances.
This is a brief description of Nassau MYAnnuity, a modified single premium deferred annuity. This summary is for informational purposes only. Please refer to product materials for any other specific information including limitations, exclusions and charges.
Nassau MYAnnuity is an insurance contract, not an investment; it doesn’t provide ownership of any stocks, bonds, index funds, or any other securities.
Insurance Products: Not FDIC or NCUAA Insured, No Bank or Credit Union Guarantee.
BPD40493
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