The Standard’s The IGA is a single-premium, deferred annuity with a Fixed Interest account and an Index Interest account that participates in 100% of the growth of the S&P 500® index to a pre-specified rate cap. The IGA has a one-year interest-rate guarantee period on the Fixed Interest account and a 12-month point-to-point index term (with the choice of a five- or seven-year surrender period) on the Index Interest account. The IGA is designed for those people who are interested in guaranteed rates, but who also desire a return that can capitalize on positive economic conditions, and which may exceed traditional fixed products.
None, but has no surrender penalties if below Bailout Rate [Initial Cap Rate Minus 2%]
Cap can be changed by company
Annually
Spread Notes
N/A
Minimum Guarantee
1.00% on 100%
Income Rider
No
Cost
N/A
MVA
No
Window
No
Crediting Method
Annual Reset w/Bailout
Averaging used in calculations
No Averaging
Multiple Index Options
No
Investment Option Notes
Index Interest Account:
In the Index Interest account, interest is calculated annually, and in case of gain, credited annually. The rate is determined as 100% of the growth of the Standard & Poors 500 index over a 12 month period, up to a pre-specified index cap rate. After the initial index term, a renewal index rate cap will be declared annually based upon the current economic environment. As interest is credited, the earnings are locked in to the account value. Although gains will be credited when the S&P 500 experiences gains, the account will never participate in any losses that the index may see.
IGA Premium S&P 500 Values & Cutoff Dates:
Allocation to the Index Interest account is made on the 15th day of each month. IGA S&P 500® Index Values are determined on those days. Click here to view the S&P 500® Index Values as of recent allocation dates.
IGA Index Funds to be allocated will be held until all expected monies are received and then allocated as a single deposit. All premium, as applied for, must be received on or before the cutoff dates for an allocation on the 15th of any given month.
Fixed Interest Account:
In the Fixed Interest account, interest is calculated and credited daily. The initial rate is guaranteed for one year. After the one year guarantee period, the premium will receive a renewal rate based upon the current economic environment.
PG1 = Optional Principal Guarantee: Your client will never recieve less than the premium paid net of any withdrawals taken. Cost of rider is .40 subtracted from the cap. [Surrender Charges will not dip into principal if this rider is elected.]
Transfer Provisions
Yes
Minimum Fixed Account Interest Rate
1.50%
Fixed Account Interest Rate Can be changed by company
Annually
Transfers To/From Fixed Account
Annually
TSA Loan Provision
No
Surrender Charges
9,8,7,6,5,4,2,0%
Surrender Charge Notes
Bailout Provision: The annuity is assigned a bailout index cap rate of 2% less than the initial index cap rate. If a renewal index cap rate is declared that is below the bailout index rate, your client may withdraw funds from the index interest account without a surrender charge only during the period that the cap rate is below the bailout.
Bailout Provision Example: If current cap is 8.00% and a couple of years down the road, the cap renews at less than 6.00% then the client can get their money out surrender free. We think the bailout feature makes this annuity one of the fairest on the market place and is perfect for agents who do not like using trust me annuities.
Partial Index Credit: 1 Interest applied to the Index Account in the case of certain mid-index-term distribution events [nursing home, terminal condition, annuitization, or death] that might occur at another time other than the end of the 12 month index term. So if the client were to have one of these events in say the 18 month, the value would be based on a calculation that would include gains in the underlying S&P index during the final 6 months and not revert back to the value at the previous anniversary like most competing products do.
Free Withdrawals
Yes, 10% from day 1.
Surrender Charge at Death
No
Action at End of Term
None. No automatic reset of surrender charges. Client can walk at any time after surrender period is over with no penalty.
Nursing Home Surrender Charge Waiver
Yes: After the first contract year, if you become a nursing home resident for 30 or more consecutive days, surrender charges are waived on withdrawals, transfers, and surrender. Written Documentation is required. If initiated on other than at the end of the 12 month index term, there will be a Partial Index Credit: 1 [The nursing home waiver is not available in Massachusetts.]
Terminal Illness Surrender Charge Waiver
Yes: After the first contract year, if you become terminally ill, surrender charges are waived on withdrawals, transfers, and surrender. Written Documentation is required. If initiated on other than at the end of the 12 month index term, there will be a Partial Index Credit: 1 if there were index gains. [In Massachusetts, the terminal illness waiver is available during — rather than after — the first contract year.]
Unemployment Surrender Charge Waiver
No
Annuitization Waiver
Yes: You may convert your IGA into a payout annuity with The Standard and pay no surrender charges, provided you choose a life payment option or a payment period of 5 years or more. If initiated on other than at the end of the 12 month index term, there will be a Partial Index Credit: 1
Maximum Premium
Minimum Premium
$15,000 Qualified & Non-Qualified
Commission Schedule
5.50%
2.75%
2.25%
Trails
00-80
81-85
86-90
Avail
Commission Notes
Trail Commission Options: Ages 0-80 Option A: 5.50% upfront and 0.00% annual trail Option B: 2.50% upfront and 0.50% annual trail Option C: 1.00% upfront and 0.75% annual trail Ages 81-85 Option A: 2.75% upfront and 0.00% annual trail Option B: 2.00% upfront and 0.25% annual trail Option C: Not Available Ages 86-90 Option A: 2.25% upfront and 0.00% annual trail Option B: 1.25% upfront and 0.25% annual trail Option C: Not Available
Commission Chargeback:
100% of commission will be recaptured on IGAs surrendered during the first six contract months. Fifty percent of commission will be recaptured on IGAs surrendered between the seventh and twelfth contract months.
Facebook 
Twitter
