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DISCONTINUED PRODUCT - Product not available to new enrollees.

Preferred Plus Variable Annuity
Product ID: 130

Vendor:
Global Atlantic Financial Group
Type:
Variable Annuity 
Discontinued Discontinued


$274
0.94%
9 Years / 8.00%
Yes





Preferred Plus is a variable annuity that pays you a 4% bonus for every purchase payment you make. You can choose from over 60 variable investment options plus a fixed account to help build your future.

Select the topics below to expand and view additional product details


You can establish a desired investment mix and have your assets automatically adjusted on a monthly, quarterly, semi-annual, or annual basis. There is no charge for this program.
This option transfers an equal protion of your DCA account on a regular basis into the subaccount(s) of your choosing. This allows you to take advantage of fluctuating market prices by making scheduled investments. This feature can reduce the average price of your subaccount units over time.

May be available under qualified plans. Minimum $1,000. No annual administrative or set-up charge. Loan balance is charged 5.5% and value securing loan is credited 3%.

May be available under qualified plans.

Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:

The DISABILITY WAIVER provides for a waiver of withdrawal charge if the contract owner is physically or mentally disabled with an impairment that has lasted or can be expected to last for a continuous period of not less than 12 months. Contract must be inforce for 2 years prior to disability. Disability must occur prior to 66th birthday. There is no charge for this waiver. See prospectus for details.
The EXTENDED CARE WAIVER provides for a waiver of withdrawal charges if the owner is hospitalized or admitted to a skilled healthcare facility for a period of at least 90 days. Contract must be inforce for 2 years prior to hospitalization or admission to a skilled healthcare facility. Confinement must begin prior to 75th birthday. There is no charge for this waiver. See prospectus for details.
Step-Up Death Benefit:
The STEP-UP DEATH BENEFIT RIDER is the greater of (a) or (b) less premium taxes: a) Contract value less debt b) Highest contract anniversary value prior to oldest owner's 81st birthday, adjusted for subsequent purchase payments and withdrawals, less debt. The charge for the Step-Up Death Benefit is 0.20%, on an annual basis, of the separate account contract value. See prospectus for details.
This option provides an annuity payable monthly while both annuitants are living.
This option provides for an annuity payable monthly over the lifetime of the Annuitant.
The option provides an annuity payable monthly for 10 years.
Yes

PREMIUM BONUS - 4% premium bonus on all purchase payments for the life of the contract.


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.

Fees

0.15% Annually Percentage of Annual Assets Yes No Yes
Fee Waiver
Does not apply to funds in the fixed account.

$30.00 Annually Flat Dollar Amount Yes No Yes
Fee Waiver
Fee is waived when contract value is $50,000 or greater.

1.35% Annually Percentage of Annual Assets Yes No Yes
Fee Waiver
Does not apply to funds in the fixed account.

Surrender Charges

Surrender Period* Surrender Percentage
1 8.00%
2 8.00%
3 7.00%
4 6.00%
5 5.00%
6 4.00%
7 3.00%
8 2.00%
9 0.00%

*Expressed in contract years


Surrender Penalty Charge assessed on a "rolling" basis: Each purchase payment to the Commonwealth Annuity Preferred Plus contract is subject to an eight year declining early withdrawal charge schedule.
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
Disability:
Yes
Nursing Home or Other Medical Expenses:
Yes

Subaccounts


Fixed Investment Options

Variable Investment Options


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