Income MarcSeven Index® Annuity
A flexible premium fixed indexed deferred annuity with income benefit rider and a 7-year surrender charge schedule. Product contains a fixed rate account that earns a traditional interest rate and four index accounts—two of which feature the exclusive Goldman Sachs Dynamo Strategy Index®.
Applicant Ages
- 40-80 (all Owners/Annuitants).
Minimum/Maximum Premium
$10,000 minimum; $1 million maximum.
Subsequent premiums may be added throughout the life of the contract. Restrictions may apply.
Account Options
1-Year Interest Account
- The interest rate is guaranteed for one year and may change on subsequent contract anniversaries.
S&P 500® Index Accounts
1-Year Point-to-Point Cap Index Account
- Percentage change in the S&P 500® from the previous contract anniversary, subject to an Index Cap. The Index Cap may change each year.
1-Year Monthly Cap Index Account
- Percentage change based on the cumulative sum of capped monthly S&P 500® changes over a one-year period, credited annually. Each of the monthly gain is subject to a Monthly Cap, but there is no floor on the monthly declines. The Monthly Cap may change each year.
Goldman Sachs Dynamo Strategy Index Accounts More Info
Dynamo 1-Year Point-to-Point Participation Index Account
- Percentage change in the index over a 1-year period, multiplied by a participation rate. The participation rate may change each year.
Dynamo 2-Year Point-to-Point Participation Index Account
- Percentage change in the Index over a 2-year period, multiplied by a participation rate. The participation rate may change every two years.
Index Credits
- Index Credits will be added to the account at the end of each indexing period. Index Credits will never be less than zero.
Surrender Charge
Declining surrender charge- based on 7- year schedule (state variations apply). Percentage of accumulation value by contract year: 9, 8, 7, 6.5, 5.5, 4.5, 3.5, 0%.
Surrender charges may vary by state. Applies to partial withdrawals in excess of the free-withdrawal amount. In the event of a full surrender, applies to accumulation value.
Market Value Adjustment (MVA)
- Applied only when surrender charges are imposed. May not apply in all states.
Penalty-Free Withdrawals
- After the first contract year, up to 10% of the accumulation value on the previous contract anniversary may be withdrawn each contract year without surrender charge or MVA.
Income MarcSeven Rider
- An income rider included automatically that offers a guaranteed lifetime income based on 7.0% accumulation for up to 7 years and a 7% bonus on first-year premium. Provides a guaranteed income stream for life without annuitizing, and the flexibility to start and stop income payments. The rider has an annual charge. Ability to double withdrawal amounts in the event of chronic illness.
Death Benefit
- Upon death of owner, accumulation value.
Nursing Home Waiver
- After the first contract year, surrenders are not subject to surrender charges or MVA in the event of nursing home confinement of owner for 90 days. There is no charge for this rider.
Terminal Illness Rider
- If the owner of the contract is diagnosed with a terminal illness, surrender charges and MVA are waived for a withdrawal of up to 75% of the accumulation value. There is no charge for this rider.
The S&P 500® Index is a product of S&P Dow Jones Indices, LLC. (“S&P DJI”) and has been licensed for use by EquiTrust Life Insurance Company. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC. (“S&P”). These trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by EquiTrust Life Insurance Company. Income MarcSeven Index Annuity is not sponsored, endorsed, sold or promoted by S&P DJI, S&P, or any of their respective affiliates or third party licensors, and none of such parties make any representation regarding the advisability of purchasing Income MarcSeven Index Annuity nor do they have any liability for any errors, omissions, or interruptions of the S&P 500.®
This annuity is not sponsored, endorsed, sold, guaranteed, underwritten, distributed or promoted by Goldman, Sachs & Co. or any of its affiliates with the exception of any endorsement, sales, distribution or promotion of this product that may occur through its affiliates that are licensed insurance agencies (excluding such affiliates, individually and collectively referred to as “Goldman Sachs”). Goldman Sachs makes no representation or warranty, express or implied, regarding the advisability of investing in annuities generally or in fixed indexed annuities or the investment strategy underlying such annuities particularly, the ability of the Goldman Sachs Dynamo Strategy Index to perform as intended, the merit (if any) of obtaining exposure to the Goldman Sachs Dynamo Strategy Index or the suitability of purchasing or holding interests in this annuity. Goldman Sachs does not have any obligation to take the needs of the holders of this annuity into consideration in determining, composing or calculating the Goldman Sachs Dynamo Strategy Index.
GOLDMAN SACHS DOES NOT GUARANTEE THE ACCURACY AND/OR COMPLETENESS OF THE GOLDMAN SACHS DYNAMO STRATEGY INDEX OR OF THE METHODOLOGY UNDERLYING THE INDEX, THE CALCULATION OF THE INDEX OR ANY DATA SUPPLIED BY IT FOR USE IN CONNECTION WITH THIS ANNUITY. GOLDMAN SACHS EXPRESSLY DISCLAIMS ALL LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGE EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
“Goldman Sachs,” “Goldman,” and “Goldman Sachs Dynamo Strategy Index” are trademarks or service marks of Goldman, Sachs & Co. and have been licensed for use by EquiTrust Life Insurance Company for use in connection with certain fixed indexed annuities.