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DISCONTINUED PRODUCT - Product not available to new enrollees.

RetireMax Millennium Flex
Product ID: 166

Vendor:
National Life Group through member company Life Insurance Company of the Southwest
Type:
Fixed Annuity 
Discontinued Discontinued


1%
AM Best:
A+
Moody's:
A1
S&P:
A+
10 Years / 10.00%
Yes





This is a flexible premium annuity desgined for salary reduction but it will accept rollovers/transfers. The descriptions described herein are general due to space limitations. For exact details of this annuity please see the certificate form.

Select the topics below to expand and view additional product details


The minimum loan is $500 and the maximum $50,000, subject to IRC rules and dependent upon cash value. Personal loans must be repaid within 5 years, while loans to acquire a home may be repaid over a longer period. Level quarterly payments are required. LSW charges a variable loan interest rate, resulting in a net loan cost of 2.50%.

Required Minimum Distribution mandated by the IRC and which must begin at age 70 1/2

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:

Guaranteed Lifetime Income Rider:
Guaranteed Lifetime Income Rider – Optional rider that provides for guaranteed lifetime income stream without annuitization. Available at an additional cost.
Equal monthly payments made during the joint lifetime of two persons and the remaining lifetime of the survivor
Equal monthly payments for the lifetime of the Annuitant. Payments stop when the Annuitant dies.
Equal monthly payments made for a certain period (i.e., 10 years, 20 years) and then for as long as the Annuitant is alive.
Equal monthly payments until LSW has paid the amount applied and then for as long as the Annuitant is alive.
Full Cash Value paid in a single sum on the annuity date.
Equaly monthly payments for the number of years selected.
Yes

Each premium received in the first policy year will receive an additional 5% interest for 12 months.
These rates may change without notice. Contact your provider for the most current rates.



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%

*Expressed in contract years


Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes

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