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DISCONTINUED PRODUCT - Product not available to new enrollees.

Annuity Investors Life GreatFlex 6
Product ID: 181

Vendor:
PlanMember Services Corp
Type:
Fixed Annuity 
Discontinued Discontinued


1%
None
7 Years / 9.00%
Yes
Roth Eligible





The Annuity Investors GreatFlex 6 accepts flexible, periodic or single Purchase Payments for 403(b) TSA, IRA (Traditional, Roth, and SIMPLE), 457 and non-qualified. There are no up front sales charges or administrative fees. Each deposit will have its own 6 year rolling early withdrawal period. The early withdrawal period is based on the number of full years that have elapsed since the date on which the Purchase Payment was applied. After the 10th contract anniversary, no early withdrawal charges will be applied. Early withdrawal period on qualified business will be waived when the owner is age 55 or older and has been in the contract for at least seven years.

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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
Joint and one-half survivor annuity: Guarantees income for as long as you live. If your joint annuitant (usually a spouse) survives you, your annuity then pays 50% of the periodic payment amount for as long as your joint annuitant lives.
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begin under this option, the Contract has no value that can be assigned, transferred, surrendered, loaned, commuted or withdrawn.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.
Life annuity with payments for at least a fixed period: Guarantees income for as long as you live. If you die during the fixed period that you select (usually 10 or 20 years), your annuity pays income for the rest of the period.
This option is available at any time. After the 14 contract year, all remaining surrender charges are waived if annuitant purchased before age 55. After the 10th contract year, all remaining surrender charges are waived if purchased after age 56 and older.
Income for a fixed period: Pays income for the fixed period of time that you select.
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 9.00%
2 8.00%
3 7.00%
4 6.00%
5 5.00%
6 4.00%
7 0.00%

*Expressed in contract years


Surrender Penalty Charge assessed on a "rolling" basis: Each purchase payment will have its own six-year early withdrawal charge period. The early withdrawal charge is based on the number of full years that have elapsed since the date on which the purchase payment was applied. This charge applies to parti
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%

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