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EquiTrust Certainty Select 5 Annuity
Q: Does the interest compound? A: Yes.
Q: Is the interest taxed? A:Your annuity grows tax deferred. This maximizes your growth potential because you are not taxed on your earnings until you withdraw money from your annuity. If your money is not already in a pre-tax account such as an IRA or 401k, this is an advantage over a bank CD where each year your interest is taxed each year.
Q: Are there any fees? A: No, there are no sales charges or ongoing maintenance fees.
Q: Is it FDIC insured? A: No. FDIC insurance is only for bank deposits. Fixed annuities are guaranteed by the issuing insurance company.
Q: How do I access my money? A: Yes, you can withdraw the cumulative interest earned at any time without Surrender Charge or MVA.
Q: What are the early surrender charges? A: The early surrender charges only apply to withdrawals which are greater than the penalty free amount. If surrender charges apply, they start at 10% and decline to 0% after the 5th year. The schedule is 10%, 10%, 9%, 9%, 8%.
Q: If I withdraw more than the penalty-free amount, will a Market Value Adjustment (MVA) be applied? A: Yes. You can read more about market value adjustments here.
Q: What happens after the rate guarantee period? A: You have a 30 day window to do whatever you want with the full cash value of your annuity. The insurance company will offer you a renewal rate, but you can shop around for a better rate, or even buy a different type of annuity. You can also take your money out of the annuity, but be aware that you will be responsible for taxes on your interest if the money is not kept in a tax-preferred account. If you don't do anything, your annuity will automatically renew.
Q: What happens to the money in my account if I die? A:Your beneficiaries will receive the full account value.
Q: How do I apply? A:Start your annuity application by calling 800-872-6684 or click "Get a Free Quote" in the center of this page for a detailed illustration.
Q:What is the minimum premium I need to pay? A:$10,000.
Q:Are there any age restrictions? A:Yes, you can purchase this annuity up to age 85. In some states the age requirements may differ.
Q:In which states is the EquiTrust Certainty Select annuity available? A: The EquiTrust Certainty Select annuity is not available in all states. Call 800-872-6684 to find out if it's available in your state.