What's the Product?
An annuity contract that only allows a one time payment
What is Single Premium Annuity?
The riders available on the Premier Foundation Indexed Annuity.
What are the ISWB and GGWB?
How can you tell if a Nonqualified Annuity would be taxable?
What is surrender value vs. cost basis?
Profile screen in CK10?
What is 62D1?
The penalty when a client terminates their contract within a certain number of years.
What is the surrender penalty?
This product has investment options in the Fixed Interest and Indexed Accounts.
What is Premier Foundation Indexed Annuity?
The annual increase that may be available on a living benefit rider.
What is a step up?
The penalty the IRS assesses when a client is younger than 59 1/2.
What is 10% penalty?
Screen that shows the financial history of a contract.
What is U1DA or U1DA,,?
The amount a client has available to them, each contract year, without penalties and charges.
What is the Free Amount?
These products only allow investment into a Fixed Interest Account.
What are Fixed Annuity Products?
The amount a client can receive each year when beginning their living benefit.
What is the Guaranteed Annual Withdrawal Amount (GAWA)
The penalty that the IRS penalizes if a client does not take their full Required Minimum Distribution?
What is a 50% penalty?
Screen to show contract riders and RMD code?
What is 62D2?
Products that allow premium deposits throughout the life of the contract.
What are Flexible Premium products?
This is the product that was only issued as 403b contracts
What is Optimizer?
The value comparison to increase the benefit base on a premium enhancement product, which occurs after the third contract year.
What is a true up?
When do withdrawals become taxable on a Qualified Plan?
What is all withdrawals are taxable because they are funded with pre-tax dollars?
What is U1QE?
The ability to take a withdrawal from the contract and keep the living benefit in the "deferral" phase.
What is an Early Access Withdrawal?
This product has guaranteed periods for different lengths of time and require the contract owner to renew at the end of each guaranteed period.
What are Guaranteed Foundation Fixed Annuity contracts?
The option to increase the base rate that accrues over a period of time.
What is the waiting bonus (on Lifetime Withdrawal option)?
What form is sent to the client for tax reporting purposes when a withdrawal occurs?
What is a 1099-R is sent when a disbursement is taken from an Annuity contract?
What is U1QB?
The penalty charged when a client withdrawals from a banded fixed account.
What is a premature withdrawal charge (PWC)?