Trivysta annuity from Guggenheim is a single-premium, fixed indexed annuity with a 10-year surrender charge duration, and a provision for market value adjustment. This is a contract that’s designed for investors who need to accumulate funds. Trivysta index annuity is also ideal for anyone who’s keen on benefiting from tax deferral, or diversifying within a single contract. There’s a living benefit that can elected to provide lifelong income.
Trivysta index annuity facts
The issue age for this annuity 0-81 years.
- Minimum for qualified payments – $5,000.
- Minimum for non-qualified payments – $10,000.
TriVysta offers 3 indexes all within one contract. Investors can allocate funds to one, two, or all 3 indexes (S&P 500, MSDSI, and CROCI Sectors II) thus allowing their investment to tap into diverse market conditions. You can choose your preferred credit interesting strategy from within each index.
Living Benefit Withdrawal Rider
This Trivysta annuity rider comes an extra annual fee (0.90%). It allows investors withdraw maximal income from their contract each year for as long as they’re alive. This rider is ideal for people who’re looking to leverage their annuity as a source of retirement income. This rider can be revoked any time after contract year 1.
Your benefit base grows by 4% (guaranteed annually) over 20 years, plus additional amounts that may be crediting to the account each year. Income withdrawals can start any time following the first contract anniversary and after a minimum age of 60 years. Given that you do not take any excess withdrawals, these payments should continue for life. The withdrawal percentage is calculated based on the investor’s age at the time when they elect to start receiving income payouts.
Premiums paid within the 1st contract year earn a 10% bonus.
You can withdraw up to 10% of your account value without any charges (penalties) each year, and starting the 2nd contract year. Free withdrawals can influence the withdrawal amounts paid out under the lifetime benefit rider.
A nursing home and a terminal illness waiver are available. This means that qualified investors can access their account value penalty-free if they’re diagnosed with a terminal illness (that causes death within 12 months), or confined to a nursing center for at least 90 consecutive days.
A death benefit is paid out to your named beneficiaries. This benefit equals your full contract value at death. In the case of spouses, the annuity can also be continued in the name of the surviving spouse.