*The amount shown represents potential withdrawal (“income payment”) guarantees based upon the specified age of the youngest Covered Person, single premium, contract year of rider exercise and rider coverage option selected (single or spousal) and assumes no other withdrawals are taken. Actual payments are based on the Income Benefit Base and Annual Benefit Amount Percentage at the time of rider exercise. The Income Benefit Base and Annual Benefit Amount Percentage are used solely to determine rider benefits/fees and DO NOT impact the contract Accumulation Value. Income payments are considered withdrawals from the annuity and will reduce the contract value, cash surrender value and death benefit. Any withdrawals other than the income payments provided by the rider will reduce future guaranteed income payments and may be subject to charges and adjustments.
Important Disclosures
This information is not intended for residents of Idaho.
This material is intended for general use with the public and is not meant to provide investment, tax or financial planning advice. Nassau does not provide individual tax, financial or investment advice or act as a fiduciary in the sale or service of insurance contracts. Please consult a personal tax or financial advisor for assistance. Nassau has a financial interest in the sale of its products. Review the applicable product and rider disclosures for a full description of features, benefits, and restrictions.
Although this information is assumed to be accurate as of the date of publication, we do not guarantee the accuracy of this information and product rates and features are subject to change at any time. This information is a summary only and is not intended to be a substitute for an annuity contract illustration. Contact your insurance producer for complete product terms and conditions.
The riders offered with Nassau Personal Income Annuity include different features that can increase the Income Benefit Base and potential income payment when you wait to exercise your rider. The rider only guarantees an annual withdrawal from the annuity for the life of the Covered Person(s) if all rider terms and conditions are met and in no way guarantees the Accumulation Value of the contract. If the Accumulation Value is reduced to zero due to income payments or rider fees before the death of the eligible Covered Person(s), income payments will continue for life. If the Accumulation Value of the contract is reduced to zero for any other reason, the rider will terminate without value.
Riders must be elected at the time of application and involve an additional annual fee equal to 0.95% of the Income Benefit Base, deducted annually from your contract value. The rider fee may increase anytime after the 10th contract anniversary but will never exceed 1.50%. This is only a summary and is not a contract. Additional contract and rider terms and conditions apply. For more information about the specific features of the riders offered with Nassau Personal Income Annuity, see the Product Summary or contact your insurance producer.
Annuities are long-term insurance products particularly suitable for retirement assets. Annuities are not meant to be used to meet short-term financial goals. Annuities held within qualified plans do not provide any additional tax benefit. Withdrawals in excess of the 10% annual free withdrawal amount may be subject to surrender charges, recovery of non-vested premium bonus, market value adjustment and applicable pro-rated rider and strategy fees. All withdrawals (including income payments) are subject to ordinary income tax, and if taken prior to age 59½, a 10% IRS penalty may also apply.
This annuity offers a Fixed Account and a variety of Indexed Accounts. The Fixed Account may earn a specified rate of interest of 0% or greater. The Indexed Accounts may or may not earn Index Credits. Index Credits are credited if the type of Index that the Indexed Account tracks performs in a manner described in the Indexed Account riders attached to your contract. Although Index Credits are awarded based on index performance, this annuity is not a security. You are not buying shares of any stock or investing in an index. You are purchasing an annuity, which is a type of insurance contract issued by an insurance company. You can use an annuity to save money for retirement and to receive retirement income for life. It is not meant to be used to meet short-term financial goals. For more information, please review the contracts and disclosures for the Nassau Personal Income Annuity product and Guaranteed Minimum Withdrawal Benefit rider.
Non-Security Status Disclosure - These contracts have not been approved or disapproved by the Securities and Exchange Commission. The contracts are not registered under the Securities Act of 1933 and are offered and sold in reliance on an exemption therein.
Product features, rider options and availability may vary by state. Guarantees are based on the claims-paying ability of the issuing company.
Nassau Personal Income Annuity (19FIA, ICC19EIAN, 19ISN, 19GLWB2, ICC19GLWB2.1, ICC19GLWB2.2) is issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as "Nassau Life and Annuity Insurance Company." Nassau Life and Annuity Company is not authorized to do business in ME and NY, but that is subject to change. Nassau Life and Annuity Company is a subsidiary of Nassau Financial Group.
Insurance Products: Not FDIC or NCUAA Insured, No Bank or Credit Union Guarantee.