Provided by Americo under the Legacy Marketing Group, the LibertyMark 10 is a single-premium fixed-indexed annuity that has a ten year surrender period. The annuity has eight interest-crediting strategies and offers full accumulated value at the annuitant’s death, hospitalization or confinement to a nursing home. The latter may however not be available in all states. As of January 17, 2017 this product is not available in AL IN MN MO MS NY OR PR VI and VT
LibertyMark 10 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 not allowed with the LibertyMark 10. The amounts apply equally under the qualified and unqualified status.
Issue age
LibertyMark 10 is issued to people aged between 0-85. This applies to the owner of the annuity and not the annuitizer.
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 amounts and minimum account values are $500 and $2,000 respectively.
Above the 10% free withdrawal amount, additional withdrawals will be charged differently depending on specific states. For most states however, this begins at 12.00% for year one and reduces gradually to 11.50%, 11.00%, 10.50%, 10.00%, 9.00%, 8.00%, 7.00%, 6.00%, 5.00% and 0.00%.
Death benefit
Upon the annuitant’s death, the death benefit paid to a beneficiary will be the greatest of the amounts among the entire accumulated value (this becomes 130% with the heritage maximize option), the return of premium having been lessened by the amount of gross withdrawals or the GMV at death of the annuitant.
State specific
This product was not available in AL IN MN MO MS NY OR PR VI VT as of January 17, 2017
