ForeFreedom Savers is a fixed index single-premium, fixed index annuity that’s designed to help investors meet their retirement savings goals. This annuity product from Global Atlantic offers multiple crediting methods, and a fixed-rate strategy. The ForeFreedom Savers has a 10-year surrender charge duration with a provision for Market Value Adjustments.
ForeThought ForeFreedom Savers Particulars
Issue Ages
0-85 years
Minimum and Maximum Premiums
Minimum single premium is $5,000.
Maximum single premium amount is:
- 0-80 years – $1 million
- 80+ years – $500,000
Minimum Guaranteed Contract Withdrawal Value (MGCWV)
The Freedom Savers fixed index annuity from ForeThought (a Global Atlantic subsidiary) offers an MGCWV that’s 87.5$ of your premiums, minus withdrawals, compounded an interest rate of between 1% and 3%.
Interest Crediting Methods
Clients can allocate their investment to diverse interest crediting methods that are based on the S&P 500, the Barclays ARMOUR II Volatility Control, and the BlackRock Diversa Volatility Control.
Withdrawal Privileges
Investors can withdraw up to 10% of their contract value each year without any applicable withdrawal charges. Any amounts withdrawn above this threshold are subjected to withdrawal charges according to the schedule below.
| Contract Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
| All Ages (Withdrawal Charge in %) | 10 | 10 | 9 | 9 | 8 | 7 | 6 | 5 | 4 | 2 | 0 |
Riders
- Nursing Home Rider – after the first contract year, if a ForeFreedom Savers annuity owner is confined to a nursing center for at least 60 consecutive days, they withdrawals charges are waived on their contract value.
- Terminal Illness Rider – following the 1st contract anniversary, if the annuity owner is diagnosed with a terminal illness that causes death within a year, withdrawal charges are waived on any percentage of their contract value that’s withdrawn.
Standard Death Benefit
Upon the death of the annuity owner, a death benefit (free of withdrawal charges) is passed to appointed beneficiaries.
Get your Annuity Right
Fixed index annuities are meant for people who’re looking to put together a feasible financial plan for retirement income needs. Fixed index annuities have also become increasingly popular among aged Americans who need to pass wealth to their beneficiaries after death. Whatever the intention, buying an annuity can be a complicated process entailing multiple choices. At Annuity Broker, we have helped thousands of Americans learn more about annuities, compare products, and choose an annuity that’s right for their needs. Get in touch with our annuity experts to and invest wisely today!
