DISCONTINUED PRODUCT - Product not available to new enrollees.
FlexMax 12
Product ID: 104
Type:
Equity Indexed Annuity
Discontinued 
0%
AM Best:
Moody's:
S&P:
12 Years / 10.00%
No
Roth Eligible
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Address: - Product Details
- Fees and Charges
The Annuity Investors FlexMax 12 accepts flexible, periodic and single Purchase Payments for 403(b) TSA, 401(a), Pension/Profit Sharing, IRA (Traditional or Roth), Governmental and Non-Governmental 457 and non-qualified. Payments can be paid into the Purchase Payment Account on any business day. Contributions will be moved to interest strategies on the 20th of each month(or the business day preceding if the New York Stock Exchange is closed).
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A loan endorsement is availible for 403(b) TSA, 401 Pension/Profit Sharing and Govermental 457 contracts. Loans are subject to the terms and conditions of the LOAN APPLICATION AND AGREEMENT FORM (Form TSAL2798). Outstanding loan balances will be deducted from contract values upon surrender or annuitization. Contract loans are issued by Annuity Investors using the contract value as collateral. Minimum loan amount is $ 1,000.00. The minimum net Surrender Value that must remain following a loan: $500.00 plus collateral interest on all outstanding loans on the contract.
The company will comply with the IRS Code to allow distributions from qualified annuity contracts by the required beginning date- April 1 following the calendar year in which the Annuitant/participant reaches 70 1/2, or following the calendar year in which the Annuitant/participant separates from service. If the Annuitant decides to meet the Required Minimum Distribution through annuitization of the contract, then substantially equal payments must be made at least annually. If the Annuitant decides to meet the Required Minimum Distribution from other than annuitization, then, by the required beginning date, the Annuitant will need to take the distribution for the calendar year preceding the beginning date.
Yes
The company will make periodic payments until the death of the primary person on whose life payments are based; thereafter, we will make one-half of the periodic payment until the death of the secondary person on whose life payments are based. The first payment will be paid as of the last day of the initial payment interval.
The company will make periodic payments for a fixed period equal to the life expectancy of the person whose life payments are based. This life expectancy is determined under tables adopted by the Health Care Financing Administration. This option is irrevocable. As of the date that payments begin under this option, the Contract has no value that can be assigned, transferred, surrendered, loaned, commuted or withdrawn. The first payment will be paid as of the last day of the initial payment interval.
The company will make periodic payments for at least a fixed period. If the personon whose life payments are based lives longer than the fixed period, then we will continue to make payments until his/her death. The first payment will be paid as of the last day of the initial payment interval.
This option is available at any time. After the 10 contract year, all remaining surrender charges are waived.
INCOME FOR A FIXED PERIOD-The company will make payments for a fixed period of a minimum of 7 years. The maximum time over which payments will be made is twenty(20) years.
Additional Bonus Credit
Annuitization Bonus: 7 % added to Account Value if annuitized after the seventh contact anniversary for seven years or more, or for life.
Point-to-Point
Averaging
Averaging
S & P 500
At issue, the owner selects from three interest strategies: a Declared Rate Strategy, a One-Year Point-to-Point Indexed Strategy, and a One-Year Daily Averaging Indexed Strategy. The owner may change selections at any time by submitting a written request or via phone call. Changes for new Purchase Payments will be applied at the end of the term. The term for every strategy is one year.
The Guaranteed Minimum Surrender Value equals Purchase Payments multiplied by the GMSV Factor minus withdrawals and any applicable early withdrawal charge, plus interest at the GMSV Rate, and minus the early withdrawal charge that would apply on a full surrender. The GMSV will not be less than the minimum values required by your state
The Indexed Interest Rates are determined based, in part, on a formula linked to the growth of the S&P 500, and are credited only on the last day of each term. If funds are withdrawn before the end of the term, no interest will be credited on these amounts. For the Daily Averaging Indexed Strategy - the performance of the index is the percentage by which the average of every business day's values exceeds the index value on the first day of the term.
The maximum Indexed Interest Rate that can be credited during a term. For the Indexed Strategy Point-to-Point the cap is 6.75%. For the Indexed Strategy Daily Averaging there is currently no cap.
100.00%
It can change every 12 months/1 year.
No annuitization under 7 years.
There is an annuitization bonus as stated earlier. 7% added to the Account Value if annuitized after the seventh contract anniversary for seven years or more, or for life.
All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can
substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact
of fees, and the different types of fees please refer to the
Explanation of Fees piece located in the
Help & Resources.
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 10.00% |
| 2 | 9.00% |
| 3 | 8.00% |
| 4 | 7.00% |
| 5 | 6.00% |
| 6 | 5.00% |
| 7 | 4.00% |
| 8 | 3.00% |
| 9 | 2.00% |
| 10 | 1.00% |
| 11 | 1.00% |
| 12 | 1.00% |
*Expressed in contract years
Exceptions to the Surrender Charge:
Death:
Yes
