Forethought Choice Accumulation is a single-premium deferred index annuity contract that provides a 7-year surrender charge duration, and provisions for market value adjustment. Clients can choose their interest crediting method from 1 fixed strategy, and 4 index-based strategies. The contract includes a GMAV (Guaranteed Minimum Account Value) that can increase your contract value at the first of either the annuity owner’s death, or the end of the withdrawal charge duration. Like other Global Atlantic fixed index annuities, this product is recommended for retirees (or near-retirees) who are averse to equity market risks and thus need to create room for growth while still protecting their principal.

Choice Accumulation Annuity Facts

Issue Ages

0-85 years

Min. and Max. Premiums

The minimum premium amount is $25,000.

The maximum premium amount is $1 million (for issue ages 0-80) and $500,000 for issue ages 81+.

Withdrawal Charge Schedule

Choice Accumulation annuity owners may take withdrawals up to 10% of their beginning-of-year contract values each year without incurring any withdrawal fees. Any amounts withdrawn above this threshold (10%) are subjected to the following withdrawal charge schedule.

Guaranteed Minimum Accumulation Value (GMAV)

This is tracked separately from the contract value. The Forethought Choice Accumulation GMAV may provide an increase in the contract value either at the owner’s death, or at the conclusion of the withdrawal charge duration.

Death Benefit

The remaining contract value is passed to appointed beneficiaries at no extra charge.

Other Benefits

The Choice Accumulation fixed index annuity from Forethought automatically includes a nursing care and terminal illness waiver.

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