Capital Bonus 2
Product ID: 12
10 Years / 8%
This fixed annuity offered by Horace Mann Life Insurance Company provides for non-guaranteed interest bonuses in the first two contract years. The company allows free access to 10% of the account value each year. A 9-year surrender charge would apply otherwise.
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The company provides a Fixed Amount settlement option whereby the annuitant can select payments to be made for a specified amount. The specified amount must be such that the payments extend beyond the surrender charge period. This option can be elected anytime after issue of the contract. Surrender charges would not apply when this option is selected. Once annuity payments have begun, this option can be changed. If a lump sum is requested after annuity payments had begun, any applicable surrender charges would apply. Upon the death of the annuitant, remaining annuity payments would be made to the beneficiary.
|Investment Year||Bonus Rate|
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.
||$100.00||At the time of loan origination||Flat Dollar Amount||Yes||No||No|
|Surrender Period*||Surrender Percentage|
*Expressed in contract years