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FPDA MYG Bonus - Keyport Value
Product Type: Multi-Year Guarantee Annuity
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| Product Annualized Interest Rate | 2.35% |
| Interest Rates | The rate is set at issue for each term and is guaranteed for the duration of the term. There are varying interest rate bonuses provided depending on the term.
Two annualized bonus options are available.
1) Stepped-Up Bonus Option which has annual interest increases depending upon the term, beginning in the second year.
2) First-Year Bonus Option which has a first-year bonus on each premium payment in the first 12 months.
***NY and CT: Guaranteed minimum rate of 1.5% |
| Minimum/Maximum Premiums | Minimum: $5,000 NQ(5-Yr 0-90, 6-Yr & 7-Yr 0-85); $4,000 Q(0-85); $100 subsequent.
Maximum: $1,000,000 with prior Home Office approval.
Maximum Issue Ages: 90 (for NQ 5-Yr plan only); 85 (for 6-Yr and 7-Yr plans NQ & Q) |
| Choice of Years of Surrender Penalties | 5,6,7 |
| Issue Ages | 0 - 90 |
| Surrender Charge | Declining surrender charges on each contribution for withdrawals exceeding withdrawal privileges.
5-Yr Plan: 7%,6%,5%,4%,3%
6-Yr Plan: 7%,6%,5%,4%,3%,2%
7-Yr Plan: 7%,6%,5%,4%,3%,2%,1%
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| Withdrawal Provisions | 10% of the annuity value is available, including the first contract year, less any prior withdrawals (see chargeback policy in Commission Details).
A Market Value Adjustment (MVA) may increase or decrease the amount paid upon partial withdrawal, surrender, or annuitization. |
| Current rates, caps, bonuses and participation | SunLife_Rates.pdf |
| Additional Information | Settlement options are:
-Life Income
-Specified period
-Specified amount
-Joint and Survivor
There is a Nursing Home Waiver if the primary owner is confined to a nursing home or hospital for at least 45 days over a 60 consecutive day period. No surrender charge will apply to the Waiver. The Nursing Home Waiver is not be available in MA and TX.
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| Exceptions | Premium payments may be split between available terms within the same plan. |
| Commission Details | Commission
Age 5 yr. 6 yr 7 yr
0-80 3.5% 3.0% 3.0%
81-90 1.0% 0.75% 0.75%
In the event any contract is partially or totally surrendered within one (1) year following the date the flexible premium or single premium is received, including surrenders after death, there will be a chargeback of compensation attributable to the amount surrendered in accordance with the following schedule:
0 - 6 Months 100%
7 - 12 Months 50%
Over 12 Months 0% |
| States not Approved | Alaska
Oregon
Puerto Rico
Vermont |
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