Income MarcSeven Index® Annuity@headingTag>
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®.
- 40-80 (all Owners/Annuitants).
1-Year Interest Account
- The interest rate is guaranteed for one year and may change on subsequent contract anniversaries.
S&P 500® Index Accounts
- Index Credits will be added to the account at the end of each indexing period. Index Credits will never be less than zero.
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.
- After the first contract year, up to 10% of the accumulation value on the previous contract anniversary may be withdrawn each contract year without surrender charge or MVA.
- 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.
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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.