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LegendMark 14 Annuity – Annuity Broker

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LegendMark 14 Annuity

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This FIA is provided by F&G under the Legacy Marketing Group, the LegendMark 14 is a single-premium fixed-indexed annuity that has a fourteen year surrender period. The annuity has multiple indexed performance strategies and a lifetime rider as an additional benefit. this product is not available in AK AL CA CT DE IN MA MN MS NJ NV NY OH OK OR PA PR SC TX UT VI VT WA as of March 21, 2017.

LegendMark 14 Features

Minimum and maximum premiums

The minimum single premium for this annuity is $10,000 while the maximum single premium is 1,000,000 $. Flexible premiums are allowed with the LegendMark 14 over the entire product life. The amounts apply equally under the qualified and unqualified status. The FIA provides a 10 day free look up period and a 60 day rate lock protection period.

There is no market value adjustment

Issue age

LegendMark 14 is issued to people aged between 0-85. This applies to the owner of the annuity and not the annuitizer. In FL however, the maximum issue age is 64 years.

Free withdrawals

This annuity allows policy holders to make free withdrawals each limited to a maximum 10% the value of the annuity. The withdrawal is based on accumulation. Holders can however not withdraw the interest amount only. The minimum withdrawal amount is $250.

Above the 10% free withdrawal amount, additional withdrawals will be charged for early withdrawals. The charges start at 14.75% for the first years and reduce gradually as nfollows. 13.75%, 12,75%, 11.75%, 10.75%, 10.00%, 9.00%, 8.00%, 7.00%, 6.00%, 5.00%, 4.00%, 3.00% and 2.00% on the 14th year.

Systematic withdrawals

Systematic withdrawals are not available with LegendMark 14.

Terminal illness

If the annuitant is diagnosed with an illness that causes their life expectancy to be less than a year (diagnosed by a licensed physician) and this happens at least a year after the FIA’s date of issue, then the annuity’s surrender charges will be waived for the entire period of the annuitant’s illness.

Nursing home confinement

If the annuitant is confined in a nursing home for at least sixty days and after at least a year after the date of issues, then all surrender charges will be waived on all withdrawals made during the confinement period.

State specific

As of March 21, 2017, this product was not available in AK AL CA CT DE IN MA MN MS NJ NV NY OH OK OR PA PR SC TX UT VI VT WA

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