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Core Income 7®

principal protection against market downturns,

potential indexed interest,

and the potential for tax-deferred growth.


Simple Design, Powerful Potential

If you're concerned about building an income foundation for the future – and also want to receive guaranteed income for life – Core Income 7 Annuity may be a good choice.


Core Income 7 Annuity provides the typical features of fixed index annuities – including principal protection from market downturns, the potential for tax-deferred growth, options for lifetime retirement income, and a death benefit for your beneficiaries.


While you’re saving for retirement, Core Income 7 offers:


  • simplified indexing with annual point-to-point crediting,
  • powerful indexed interest potential through 5 index allocation options.


And when you’re ready to start receiving income, the Core Income 7 Annuity with its built-in Core Income Benefit rider (included at an additional cost):


  • gives you increasing lifetime withdrawal percentages every year until you begin withdrawals, and
  • guarantees income for life through lifetime withdrawals.


Plus, Core Income 7 Annuity has a seven-year surrender charge period — so you can access the money in your contract without surrender charges after only seven years.

Issue age and minimum

You must be between the ages of 0-80 in order to purchase Core Income 7 Annuity.

The minimum initial premium payment is $10,000 for qualified and nonqualified money.


The participation rate is 100% guaranteed for the life of the contract. This means we use the entire percentage of index change when we calculate the indexed interest rate. Caps or spreads would still apply. The cap is the maximum percentage of index change we use for a specified time period to determine how much interest we credit to your annuity in a given contract year. A spread is the amount we subtract from the percentage of change calculated for an index to determine how much interest we credit to your annuity in a contract year.


Allocation options

Annual point-to-point with a cap: S&P 500® Index, Nasdaq-100® Index, Russell 2000® Index, Barclays US Dynamic Balance Index II

Annual point-to-point with a spread: Barclays US Dynamic Balance Index

A fixed interest allocation is also available.

Income or accumulation benefits

The Core Income Benefit rider is included with the Core Income 7 Annuity for an additional charge. It offers increasing income withdrawal percentages (beginning at age 45) until lifetime withdrawals begin or annuitization is started. It also offers a choice of two income payment options: predictable payments and payments with the opportunity to increase. Once lifetime income withdrawals begin, access to penalty-free withdrawals is no longer available.


The annual cost of the Core Income Benefit Rider is 1.05% of the accumulation value, deducted on a monthly basis from the accumulation value and the guaranteed minimum value (in most states). The rider charge will continue for the life of the contract even after lifetime income payments have begun.


Annual payout percentage increases apply to ages 45 and above. Lifetime benefit withdrawals cannot begin before age 50.

Access your money

With our penalty-free withdrawal option, after the first contract year, up to 10% of the contract’s premium paid can be withdrawn each contract year, as long as the money is withdrawn after the contract anniversary following the most recent premium payment; maximum is cash surrender value.


Core Income 7 has a seven-year surrender charge period (8.5%, 8.0%, 7.0%, 6.0%, 5.0%, 4.0%, 3.0%, 0%). The surrender charge percentage will decrease 1/12 of 0.5% on each of the first 12 monthiversaries. On each subsequent monthiversary, the surrender charge will decrease by 1/12 of 1%. On day one of contract year 8, it will be zero.


Market Value Adjustment (MVA): If the contract is partially or fully surrendered (not including 10% free withdrawals and Required Minimum Distributions), it will be subject to an MVA during the surrender charge period. An MVA will also apply if the contract is annuitized prior to the sixth contract year or if annuity payments are taken over a period of less than 10 years.


The MVA reference rate is a component used to calculate the MVA. For additional information on MVAs and their calculation, see the contract Statement of Understanding.

MVA reference rate

Payout options

With the Core Income Benefit rider, beginning at age 45, the contract's lifetime withdrawal percentages will automatically increase each year you keep the contract in deferral, until income payments begin. The base payment percentage is determined by your age at the time you purchase the annuity. Starting at age 55 the base payout percentages increase for every five years of age. (For example, on a single life withdrawal with payout option 1, age 50 base = 4.00%, age 55 base = 4.50%, etc.). Lifetime income withdrawals can begin as early as age 50.


Payout option 1 gives you predictable, dependable income for life. Income option 1 may be a good choice if you want the reassurance of knowing exactly how much income you'll receive, and if you want a guaranteed stream of income that you can't outlive.


Payout option 2 also provides income for life – plus an opportunity for payment increases. Income option 2 offers a smaller payment up front, but it has the potential to increase each year by the interest rate credited to your allocation options in your contract. On every contract anniversary, your annual maximum withdrawal amount (maximum income payment) will be recalculated to reflect the interest rate from selected allocations.

Death benefit

Your beneficiaries can receive the greatest of the full accumulation value, cumulative withdrawal amount, net premium, or the guaranteed minimum value as a lump sum or as annuity income payments over at least five years.




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