DISCONTINUED PRODUCT - Product not available to new enrollees.
FlexMax Plus
Product ID: 149
Type:
Equity Indexed Annuity
Discontinued 
0%
AM Best:
Moody's:
S&P:
11 Years / 10.00%
Yes
Roth Eligible
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Address: - Product Details
- Fees and Charges
The Annuity Investors FlexMax Plus accepts flexible, periodic and single purchase payments for 403(b) TSA (traditional and Roth), IRA (traditional, Roth and SIMPLE), Governmental and non-Governmental 457(b) and non-qualified. Contracts can be issued and purchase payments can be paid
into the purchase payment account on any business day. Contributions will be moved to interest strategies on the 6th and 20th of each
month (or the business day preceding if the New York Stock Exchange is closed). Contract form number P1426009NW. NAIC 93661.
Select the topics below to expand and view additional product details
A loan endorsement is available for 403(b) TSA and Governmental 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.
403(b) annuities comply with the IRS Code to require minimum distributions be made by the required beginning date. The required beginning date is the later of April 1 following the calendar year that you reach 70 1/2, or April 1 following the calendar year that you retire from employment with your plan’s employer. If you decide to take the RMD through annuitization of the contract, then the annuitization payments must begin by the required beginning date with substantially equal payments made at least annually. If you decide to take the RMD as a withdrawal, then the distribution for the calendar year in which you reach age 70 1/2 or retire must be made by the required beginning date, and the distribution for the each subsequent calendar year must be made by December 31 of that year.
Yes
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:
To help ease the strain of certain unforeseen events, an extended care waiver is available for no additional charge. If the owner is confined to a nursing home or other long-term care facility after the completion of the first contract year for at least 90 consecutive days, early withdrawal charges may be waived on withdrawals up to a full surrender. Rider form R6020708NW. Form number may vary according to the state in which a contract is sold.
Provided that the diagnosis is rendered more than one year after the contract effective date, up to 100% of the account value can be withdrawn without deduction of an early withdrawal charge if the owner or joint owner is diagnosed by a physician as having a terminal illness with a prognosis of 12 months or less. This rider may be used only once. Rider form R6019308NW. Form number may vary according to the state in which a contract is sold.
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 at least a fixed period. If the person on 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.
The form of payment may be a lump sum, or any available form of settlement option available in the contract.
Income for a fixed period: Pays income for the fixed period of time that is selected. The maximum time over which payments will be made is 30 years.
| Investment Year | Bonus Rate |
|---|---|
| 1 | 2% |
| 2 | 2% |
| 3 | 2% |
| 4 | 2% |
| 5 | 2% |
| 6 | 0% |
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 Monthly Averaging with Cap Indexed Strategy. Amounts you allocate to the declared rate strategy earn interest at the rate declared by us before the term begins. The declared rate will not change during a one year term. Declared interest is credited daily and compounded annually. Amounts you allocate to an indexed strategy grow through indexed interest, which is determined in part by the change in the S&P 500 (the index change). Indexed interest is credited only on the last day of each term. The term for every strategy is one year.
We limit the effect of a negative change in the index on your account value by applying a base interest rate (floor). The indexed interest rate for a term will never be lower than the floor. This annuity also has a guaranteed minimum surrender value. The GMSV equals Purchase Payments multiplied by the GMSV Factor minus withdrawals and any applicable early withdrawal charge (surrender charge), plus interest at the GMSV Rate.
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 Monthly Averaging with cap Indexed Strategy - the performance of the index is the percentage by which the average of the same day each month'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. These rates may change without notice. Contact your provider for the most current rates.
100.00%
It can change every 12 months/1 year.
Annuitization under 7 years is allowed with deduction of early withdrawal charges.
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 | 0.00% |
*Expressed in contract years
Exceptions to the Surrender Charge:
Death:
Yes
