Jackson National Life Insurance Company® has lowered its minimum for their bonus interest rate! Originally, the requirement was $250,000. Now it's only $100,000.
This means that a 0.30% higher interest rate will be credited to new and additional premium of $100,000 or greater. (Subject to certain restrictions and limitations)
Call GEBA Member Services at (301) 688-7912 or (800) 826-1126 to discuss how you can take advantage of this great opportunity.
The GEBA MAX Fixed Annuity is a Flexible Premium Deferred Fixed Annuity offered by GEBA through Jackson National Life Insurance Company® (JNL®)
Whether you're approaching retirement or already enjoying it, protecting and growing your retirement assets is a major concern. You need to keep growing your nest egg and minimize the effects of taxes, but you don't want to put your savings at risk. A fixed annuity could be a solution.
What is a fixed annuity?
A fixed annuity is a long-term, tax-deferred1 retirement vehicle that offers a fixed rate of return. The interest earned grows in the account tax-deferred until you decide to withdraw the funds. The insurance company guarantees both earnings and principal. Taxable amounts distributed are taxed as ordinary income and if taken before age 59½, may be subject to a 10% federal tax penalty.
Jackson National Life Insurance Company® Overview:
Jackson National Life® (JNL®), founded in 1961, is one of America's largest life insurance companies, with over $61 billion in assets (GAAP)*. Visit the JNL website for more information.
How does the GEBA MAX Fixed Annuity work?
The GEBA MAX fixed annuity was designed specifically for GEBA members to provide them with a competitive interest rate. Each premium payment into the GEBA MAX fixed annuity will be credited with the current interest rate as declared by Jackson National Life® at the time of receipt. The initial interest rate is declared in advance and guaranteed2 for 1 year.
After the expiration of the interest rate guarantee, you will continue to be credited with a competitive interest rate as declared by JNL for a period of not less than 12 months. Your GEBA MAX interest rate is guaranteed2 never to drop below 2%.
The GEBA MAX is a long-term vehicle, and each premium payment can be most effective when left in place for at least six years or until retirement. Amounts withdrawn prior to the end of the six-year withdrawal charge period may be subject to withdrawal charges and excess interest adjustments, which may reduce your accumulated value. Click here to view withdrawal charges information.
Liquidity:
- 15% Free Withdrawals. Each contract year, you may withdraw up to 15% of your accumulated value without incurring a withdrawal charge or excess interest adjustments.
- Required Minimum Distributions. Qualified plan required minimum distributions may be taken each contract year, free of withdrawal charges.
- Terminal Illness Benefit & Extended Care. Subject to certain guidelines and restrictions, you may be able to withdraw up to 100% of your contract's accumulated value if you are diagnosed with a terminal illness or confined to an extended care facility. This benefit is limited to an aggregate of $250,000 on all JNL contracts.
Minimum Contribution Limits:
You can start a GEBA MAX fixed annuity with a minimum initial payment of $5,000 for non-qualified money or $2,000 for qualified money (IRAs)1. Subsequent payments must be at least $1,000, or $80 monthly if part of automatic payment plan using auto debit from a checking or savings account. Issue ages are 0 - 90.
*As of 6/30/06, Jackson National Life Insurance Company had $70 billion in assets (GAAP unaudited) and $63.1 billion in policy liabilities (GAAP unaudited) set aside to pay primarily future policyowner benefits.
1 If you are considering an annuity to fund a qualified plan, such as a 401(k) or an IRA, the tax-deferral offers no additional value. Tax deferral may not be available if the annuity is owned by a "non-natural person" such as a corporation or certain types of trusts.
2 Guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company®.
GEBA MAX with Excess Interest Adjustment Flexible Premium Deferred Fixed Annuity (contract number A610A-2) is issued by Jackson National Life Insurance Company®, Lansing, MI. This product may not be available in all states. State variations may apply. The contract has limitations and restrictions, including Withdrawal Charges. For costs and complete details, call your GEBA Member Service Representative.
GEBA MAX is a fixed annuity and should be considered a long-term, tax-deferred vehicle for retirement.
GEBA MAX TERMS AND CONDITIONS
GEBA Max offers a choice of interest rate guaranteed periods. You may choose from the standard 1-year rate guarantee, or a 3 or 5-year extended guaranteed period. First-year interest rate credited to the 3 and 5-year extended guaranteed periods will be lower than that credited to a contract with a 1-year rate guaranteed period. For the remaining years of an extended guaranteed period, the interest credited will remain fixed and may be higher or lower than that credited to premium in contracts where an extended guaranteed period was not selected. Additional premiums will be credited with interest rates in effect at the time premium is received and the interest rate will be guaranteed for the same period as selected at the time of purchase. Availability of extended guaranteed periods is subject to change. May not be available in all states.
1 Declared rate is guaranteed for the first contract year for premium received while rate is offered. Rates in subsequent years may be less. Rate is subject to change. Call the GEBA office at (301) 688-7912 for the latest rate. Additional premiums will be credited with interest rates in effect at the time premium is received. Other extended guaranteed periods may be available on this product. Ask your GEBA Member Service Representative for details. Minimum guaranteed interest rate of 2%.
JNL GEBA MAX with Excess Interest Adjustment Flexible Premium Deferred Fixed Annuity (contract number A610A-2) is issued by Jackson National Life Insurance Company®. Home Office: Lansing, Michigan. Not available in all states. State variations may apply. Interest rates are guaranteed by the claims-paying ability of Jackson National Life Insurance Company. Each premium payment is subject to a six-year declining withdrawal charge schedule (6%, 5%, 4%, 3%, 2%, 1%, 0%) and an excess interest adjustment. Annuity earnings are taxable as ordinary income when withdrawn. Withdrawal of taxable amounts prior to age 59½ may be subject to a 10% federal tax penalty. Tax deferral may not be available to “non-natural"contract” Owners, such as corporations or certain types of trusts. This fixed annuity has additional restrictions and limitations. Contact your GEBA Member Service Representative for complete details.
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