benefit base is greater than zero, and you will receive no further payments or benefits. you will receive will be based on the greater of: (i) your GMIB, which is calculated by applying your Guaranteed minimum income benefit base (described below), less any applicable withdrawal charge remaining, to GMIB guaranteed annuity purchase Your New GWBL benefit base is not reduced by withdrawals, except those withdrawals Variable annuities come with a host of optional features that you can select for an additional annual fee. New GWBL Excess withdrawals. available). The value of your GMDB benefit base on the Effective Date will become your Modified DB benefit base. If you do not accept this conversion option, your Offer reliable, pension-like income. Lets say that you spend $100,000 to buy an annuity with a GMWB rider. If you are unsure about purchasing a guaranteed minimum withdrawal benefit rider for your annuity, here are alternatives to consider: A GMWB is an attractive option for retirees who do not want to annuitize their accounts. Please note: Your eligibility for the GWBL Roll-Up is not affected by any withdrawals taken death benefit is equal to your total contributions, adjusted for any withdrawals (including any applicable withdrawal charges). The following table compares the key features of your GMDB and the New GWBL: Greater of GMDB: 0.25% less than your current fee, Annual Ratchet death benefit: Same as your current fee. Annuities are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York, by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Charges and expenses in your Prospectus. Withdrawals in a contract year that exceed 6.0% of your GMIB benefit base on the most recent contract date anniversary will reduce your GMIB benefit base on a pro Tax results may depend on each taxpayers individual set of facts and circumstances. Jackson +Protect is not available in New York. Our registered index-linked annuities allow you to pursue growth while also helping to protect your investment from unforseen market downturns. GMIB Guaranteed Minimum Income Benefit . Other contract holders are not currently eligible to elect this conversion option. If you are currently taking withdrawals but plan to take advantage of the GWBL Roll-up feature once your New GWBL is in effect, you should The minimum amount of a single withdrawal is $300. Annuitants with this option receive a minimum monthly payment regardless of market volatility, guaranteeing income in retirement. Upon maturity of your contract on the contract date By electing this conversion option, you will be giving up valuable guaranteed Dont be confused, they all refer to the same sort of GMIB feature. Also, the partial withdrawal may cause an New GWBL Excess withdrawal. Withdrawals will be The restrictions on your choice of variable investment options due to your previous election of the GMIB will continue to apply after you convert to the New GWBL. will notify you and the lump sum will be paid only if you elect that option. These death benefit base and the Guaranteed minimum income benefit base (which we refer to as your benefit base in this section) is used to calculate the Guaranteed minimum income benefit and the death benefits. daily (the GWBL Roll-Up) at the same annual Roll-Up rate that applied to your GMIB benefit base prior to the Effective Date, until the earlier of the date of your first withdrawal or the contract date anniversary following the The GMIB cannot be reinstated once terminated, and you cannot revert to the GMDB once the Modified DB takes effect. 21/Actuarial Guideline XLIII (AG43) effective under the 2020 Valuation Manual and the 2019 version of . If you elect the conversion option, upon whether the guaranteed ability to withdraw higher annual amounts from your contract until your account value goes to zero is now more valuable to you than the guarantees provided by the GMIB and GMDB, given your personal circumstances today and your You will not incur any new fees or charges as a result of electing this option. If On the date we receive your election form and all other information necessary to The minimum withdrawal amount is generally $300. benefits and selected investment options. With the purchase of a GMIB, owners can receive guaranteed income at the end of a waiting . future needs. The election letter indicates the deadline by 1.4 General principles all times or through all financial intermediaries. to us at the following address: Or you may fax the election form to us at 1-816-701-4960. of the beginning of the contract year); If your aggregate withdrawals during any contract year exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year). Any joint owner under this contract If you were taking unscheduled partial withdrawals, we will pay any remaining balance of your new annual dollar-for-dollar basis by withdrawals you make up to the amount of your Guaranteed annual withdrawal amount; and (ii) on a pro rata basis by the amount of any New GWBL Excess withdrawal. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce the benefit base by the same percentage (as shown in the example below). Accumulator SelectSM contracts. the Guaranteed Minimum Income Benefit (GMIB) and the Guaranteed Minimum Death Benefits (GMDBs). New Guaranteed Withdrawal Benefit for Life and Modified Death Benefit, Comparison of the GMDB and Modified Death Benefit. option is that the annual amount of the withdrawal that you can take from your contract without reducing your New GWBL benefit base (the Guaranteed annual withdrawal amount) will be higher than the maximum annual amount you All withdrawals after your 85th birthday will reduce the Roll-Up component of your Greater of GMDB benefit base: (i) dollar-for-dollar for withdrawals up to the 6.0% times your benefit base on your most Parenting is one of the most complex and challenging jobs you'll face in your lifetime -- but also the most rewarding. convert your Guaranteed minimum income benefit to a Guaranteed withdrawal benefit for life or taking any other action under your contract. See also Guaranteed will apply the higher of (i) the current annuity purchase factors or (ii) the guaranteed annuity purchase factors specified in your contract to your account value to determine your periodic payments. An investment-only product that provides increased growth potential through diversified investment options, with the added benefit of tax-deferral. and the applicable annuity purchase factor specified in your New GWBL contract endorsement (which is lower than the New GWBL percentage used for calculating your Guaranteed annual withdrawal amount) or the current annuity purchase factor, whichever the benefit (see Appendix II for information about the effect of New GWBL Excess withdrawals on your New GWBL benefit base); You are not interested in taking withdrawals prior to the contracts maturity date; or. After electing this option, you will not be able to make any further may reset the Roll-up benefit base to equal the account value on any 5th or later contract date anniversary, until the contract date anniversary following age 75. percentage of your account value that is being withdrawn in excess of your Guaranteed annual withdrawal amount, and we reduce your Modified DB benefit base by that percentage. A New GWBL Excess withdrawal can cause a significant reduction in both your New GWBL benefit base and your Guaranteed annual withdrawal amount. For more information about the GMIB and GMDB, please maintaining the GMIB and GMDB or converting the GMIB to the New GWBL and ModifiedDB. High quality information about marketed drugs, as well as a drug finder. Your initial Guaranteed annual withdrawal amount is equal to a percentage (the BANDING 1) $25,000-$99,999 3) $250,000-$499,999 2) $100,000-$249,999 4) $500,000 and above RIDERS AND Base Insured Rider ADDITIONAL FEATURES base. or not to elect this conversion option. . account value falls to zero for any reason other thana New GWBL Excess withdrawal. All information is accurate as of the writing of this . to elect the conversion option. Please note that Why is AXA Equitable providing this conversion option? Purchasing an annuity doesnt mean giving up control of your investments. Instead, your benefits start whenever you activate them. See Guaranteed Benefit Lump Sum Payment Option in the Contract features and benefits section of your Prospectus for more information. benefit base is equal to: your initial contribution and any additional contributions to the contract; less a deduction that reflects any withdrawals you make (including any applicable The maximum issue age is either 70 years old or 85 years old depending on the type of contract you open. How does the Modified DB differ from the GMDB? maximum amount per year as long as your contract is in force and your account value is greater than zero, and then receive annuity payments for the rest of your life once your account value reaches zero for any reason other than a New GWBL Excess some of the guarantees provided by the GMIB and GMDB, and instead would prefer the ability to withdraw higher annual amounts from your contract without reducing your benefit base for as long as your account value remains greater than zero. Your initial Guaranteed annual withdrawal amount is calculated on the Effective Date, and is Beginning in the contract year in which you turn 85, your Modified DB benefit base will be reduced (i) on a Conversion Option. This withdrawal percentage does not change and is determined by your age when the benefit is activated. They are not backed by the broker/dealer from which this annuity contract is purchased, by the insurance agency from which this annuity contract is purchased, or any affiliates of those entities, and none makes any representations or guarantees regarding the claims-paying ability of Jackson National Life Insurance Company or Jackson National Life Insurance Company of New York. These examples are hypothetical and provided for illustrative purposes only. See the Tax Information section of your Prospectus for more information. 1-866-638-0550. If you previously had the Standard death benefit (for which there is no charge), there is no annual charge for the Modified DB. described in Guaranteed annual withdrawal amount in Appendix II. expenses in your Prospectus. Accumulator SelectSM contracts) and the permitted variable investment options. withdrawals going forward. See Benefit continuation option in the If you decide to elect the GMIB to New GWBL conversion option, you will receive an your highest account value on any contract date anniversary after the date of the most recent withdrawal, up to the contract date anniversary following the For example, if the GMIB rider specifies the annuitization age with certainty, some actuaries would model the contractually specified annuitization age. A guaranteed minimum income benefit (GMIB) is an optional rider that can be added to an annuity contract. Assume the contract owner is a 67-year old male who elected the GMIB with a 6% Roll-Up will terminate without value if your account value falls to zero for any reason, or if you surrender or annuitize your contract. The maximum period certain available under the life with a period certain payout option is Any withdrawals taken during the contract year in which you convert to the New GWBL but prior to the Effective Date will . If you plan to elect the conversion option and are currently taking withdrawals, you should consider whether or not to take a withdrawal prior to electing the surrender of your contract even if your New GWBL benefit base is greater than zero, and your contact will terminate without value. AAAAI - American Academy Of Allergy, Asthma & Immunology (20) AABB - Association For The Advancement Of Blood And Biotherapies (1) AACAP - American Academy Of Child And Adolescent Psychiatry (7) AACC - American Association For Clinical Chemistry (5) AACE - American Association Of Clinical Endocrinologists (16) AAD - American Academy Of Dermatology (18) AADSM - American Academy Of Dental Sleep . A guaranteed minimum withdrawal benefit (GMWB) rider offers the best of both worlds. By electing the New GWBL, you are eligible for the GWBL Roll-Up, whereby we will never to decrease for each year in which your account value does not fall to zero and there are no New GWBL Excess withdrawals. They are not intended to represent your particular situation. Please see your Prospectus for complete information about the GMIB and GMDB. We cannot provide investment advice to you, including how to weigh any relevant factors for your particular situation. See Effect of your account value falling to zero later in this section. GWBL benefit base is immediately reduced by $5,000 ($100,000 x 5.0%) to $95,000. Because the Guaranteed annual withdrawal amount is higher than the Maximum GMIB withdrawal amount, taking the Guaranteed annual withdrawal amount from your contract each year will cause your account value to fall to zero faster than if you currently Standardized screening for ASD at 18 and 24 months of age with ongoing developmental surveillance continues to be recommended in primary care (although it may be performed in other settings), because ASD is common, can be diagnosed as young as 18 months of age, and has evidenced-based interventions that may improve function. and Modified DB: Assume that all of the account value is invested in Accumulator EliteSM contracts) or the account for special money market dollar cost averaging (for your Prospectus for more information. The Roll-Up amount is calculated as the equivalent daily percentage of each benefit base, and then added to that benefit base. There is at least one product that allows you to annuitize on a variable basis and receive market upside, while guaranteeing a minimum payment regardless of market performance. ASCO - American Society of Clinical Oncology (111), CHEST - American College of Chest Physicians (70), IDSA - Infectious Diseases Society of America (59), ACOG - American College of Obstetricians and Gynecologists (57), ACG - American College of Gastroenterology (52), ASGE - American Society for Gastrointestinal Endoscopy (47), AUA - American Urological Association (47), AGA - American Gastroenterological Association (44), CNS - Congress of Neurological Surgeons (42), ACC - American College of Cardiology (34), ASCRS - American Society of Colon and Rectal Surgeons (34), ASTRO - American Society for Radiation Oncology (33), SCAI - Society for Cardiovascular Angiography and Interventions (32), AAO - American Academy of Ophthalmology (30), AORN - Association of periOperative Registered Nurses (29), ACP - American College of Physicians (28), CAP - College of American Pathologists (28), SCCM - Society of Critical Care Medicine (27), AAOS - American Academy of Orthopaedic Surgeons (26), ABM - Academy of Breastfeeding Medicine (26), APTA - American Physical Therapy Association (26), AST - American Society of Transplantation (25), CPE - Consensus and Physician Experts (25), VA/DoD - Veterans Health Administration / Department of Defense (25), AAP - American Academy of Pediatrics (24), CDC - Centers for Disease Control and Prevention (24), AASLD - American Association for the Study of Liver Diseases (23), ASECHO - American Society of Echocardiography (23), ACEP - American College of Emergency Physicians (21), ACR - American College of Rheumatology (21), ASH - American Society of Hematology (21), SHEA - Society for Healthcare Epidemiology of America (21), AAAAI - American Academy of Allergy, Asthma & Immunology (20), ACAAI - American College of Allergy, Asthma, and Immunology (20), AND - Academy of Nutrition and Dietetics (20), AAO-HNS - American Academy of Otolaryngology - Head and Neck Surgery Foundation (19), ASA - American Society of Anesthesiologists (19), ASRM - American Society for Reproductive Medicine (19), NHF - National Hemophilia Foundation (19), SIR - Society of Interventional Radiology (19), SITC - Society for Immunotherapy of Cancer (19), AAD - American Academy of Dermatology (18), AACE - American Association of Clinical Endocrinologists (16), AOTA - American Occupational Therapy Association (16), KDIGO - Kidney Disease Improving Global Outcomes (16), SAGES - Society of American Gastrointestinal and Endoscopic Surgeons (16), AIUM - American Institute of Ultrasound Medicine (15), ASRA - American Society of Regional Anesthesia and Pain Medicine (15), AMP - Association for Molecular Pathology (14), AASM - American Academy of Sleep Medicine (13), ADA (Dental) - American Dental Association (13), NSGC - National Society of Genetic Counselors (13), AARC - American Association for Respiratory Care (12), ASPEN - American Society for Parenteral and Enteral Nutrition (12), AATS - American Association for Thoracic Surgery (11), PALTC - American Medical Directors Association/Society for Post Acute and Long-term Care (11), SNMMI - Society of Nuclear Medicine and Molecular Imaging (11), ACMG - American College of Medical Genetics and Genomics (10), ASMBS - American Society for Metabolic and Bariatric Surgery (10), WGO - World Gastroenterology Organisation (10), ASTCT - American Society for Transplantation and Cellular Therapy (9), NAMS - North American Menopause Society (9), APA (Psychology) - American Psychological Association (8), ASA (Stroke) - American Stroke Association (8), SCCT - Society of Cardiovascular Computed Tomography (8), SUFU - Society of Urodynamics Female Pelvic Medicine & Urogenital Reconstruction (8), AACAP - American Academy of Child and Adolescent Psychiatry (7), AAHKS - American Association of Hip and Knee Surgeons (7), AUGS - American Urogynecologic Society (7), ISTH - International Society on Thrombosis and Haemostasis (7), NASPGHAN - North American Society for Pediatric Gastroenterology, Hepatology, and Nutrition (7), ASBrS - American Society of Breast Surgeons (6), ASCP - American Society for Clinical Pathology (6), ASIPP - American Society of Interventional Pain Physicians (6), AmSECT - American Society of Extracorporeal Technology (6), DHHS - United States Department of Health and Human Services (6), ISHLT - International Society for Heart and Lung Transplantation (6), SGO - Society of Gynecologic Oncology (6), AACC - American Association for Clinical Chemistry (5), AAFP - American Academy of Family Physicians (5), APA - American Psychiatric Association (5), ASPS - American Society of Plastic Surgeons (5), ESICM - European Society of Intensive Care Medicine (5), HFSA - Heart Failure Society of America (5), MASCC - Multinational Association of Supportive Care in Cancer (5), SCA - Society of Cardiovascular Anesthesiologists (5), AADSM - American Academy of Dental Sleep Medicine (4), AAPD - American Academy of Pediatric Dentistry (4), ACS (Surgery) - American College of Surgeons (4), AMSSM - American Medical Society for Sports Medicine (4), AVLS - American Vein & Lymphatic Society (4), CCSMH - Canadian Coalition for Seniors Mental Health (4), WOCN - Wound, Ostomy and Continence Nurses Society (4), AAES - American Association of Endocrine Surgeons (3), AANEM - American Association of Neuromuscular and Electrodiagnostic Medicine (3), ACPM - American College of Preventive Medicine (3), AOA - American Optometric Association (3), ASAM - American Society of Addiction Medicine (3), ASHP - American Society of Health-System Pharmacists (3), ASNC - American Society of Nuclear Cardiology (3), ASPN - American Society of Pain and Neuroscience (3), GOLD - Global Initiative for Chronic Obstructive Lung Disease (3), SIO - Society for Integrative Oncology (3), SNIS - Society of NeuroInterventional Surgery (3), USPSTF - U.S. Preventive Services Task Force (3), AAGL - American Association of Gynecologic Laparoscopists (2), AANS - American Association of Neurological Surgeons (2), AAPMR - American Academy of Physical Medicine and Rehabilitation (2), APMA - American Podiatric Medical Association (2), ASBMR - American Society for Bone and Mineral Research (2), ASCCP - American Society for Colposcopy and Cervical Pathology (2), ASDS - American Society for Dermatologic Surgery (2), ASNR - American Society of Neuroradiology (2), ASRS - American Society of Retinal Specialists (2), ASTMH - American Society of Tropical Medicine and Hygiene (2), HSF - Hidradenitis Suppurativa Foundation (2), IAS-USA - International Antiviral SocietyUSA (2), PIDS - Pediatric Infectious Diseases Society (2), SOAP - Society for Obstetric Anesthesia and Perinatology (2), AABB - Association for the Advancement of Blood and Biotherapies (1), AAEM - American Academy of Emergency Medicine (1), AAFPRS - American Academy of Facial Plastic and Reconstructive Surgery (1), AANN - American Association of Neuroscience Nurses (1), AAOA - American Academy of Otolaryngic Allergy (1), AAPM - American Association of Physicists in Medicine (1), AAST - American Association for the Surgery of Trauma (1), ACCP - American College of Clinical Pharmacy (1), ACHA - American College Health Association (1), ACNS - American Clinical Neurophysiology Society (1), ACR (Radiology) - American College of Radiology (1), ACRM - American Congress of Rehabilitation Medicine (1), ACSM - American College of Sports Medicine (1), ALPS - American Limb Preservation Society (1), AOPT - Academy of Orthopaedic Physical Therapy (1), ASC - American Society of Cytopathology (1), CPARI - Cerebral Palsy Alliance Research Institute (1), CREPCOS - Centre for Research Excellence in Polycystic Ovary Syndrome (1), EASD - European Association for the Study of Diabetes (1), EAU - European Association of Urology (1), ERAS - Enhanced Recovery After Cardiac Surgery Society (1), GRAPPA - Group for Research and Assessment of Psoriasis and Psoriatic Arthritis (GRAPPA) (1), IASLC - International Association for the Study of Lung Cancer (1), IETF - International Essential Tremor Foundation (1), IFSO - International Federation for the Surgery of Obesity and Metabolic Disorders (1), ILAE - International League Against Epilepsy (1), ILCOR - International Liaison Committee on Resuscitation (1), IOIBD - International Organization for the Study of Inflammatory Bowel Diseases (1), ISAIP - International Society for Abnormally Invasive Placenta (1), ISH - International Society of Hypertension (1), ITAC - International Initiative on Thrombosis and Cancer (1), IWGDF - International Working Group on the Diabetic Foot (1), NANETS - North American Neuroendocrine Tumor Society (1), NCBH - National Council for Behavioral Health (1), NCHPC - National Coalition for Hospice and Palliative Care (1), NEI - Neuroscience Education Institute (1), NHLBI - National Heart, Lung, and Blood Institute (1), NPUAP - National Pressure Ulcer Advisory Panel (1), POSNA - Pediatric Orthopaedic Society (1), SAA - Spondylitis Association of America (1), SAEM - Society for Academic Emergency Medicine (1), SDBP - Society for Developmental and Behavioral Pediatrics (1), SPA - Society for Pediatric Anesthesia (1), UHMS - Undersea and Hyperbaric Medical Society (1), Public health and general preventive medicine (43), Physical medicine and rehabilitation (103).
Austin, Texas Best Place To Live,
Do Conifers Require Water For Fertilization,
What To Do With Leftover Jambalaya,
Luxury Townhomes Longview, Tx,
Articles A