MaxProtect with MVA 5
MaxProtect with MVA 5
Multi-Year Guarantee Annuity
Issuing Insurance Company and Ratings
The MaxProtect with MVA 5 is a deferred multi-year guarantee annuity issued by CUNA Mutual – CMFG Life Insurance Co.
This annuity is a premium banded product. The interest rate you earn will vary depending on the amount of premium you deposit (see Rate Details below). Currently, the highest 5 year guarantee period annual yield is 5.00% on premium amounts of $100,000 – $999,999. This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The MaxProtect with MVA 5 has a full penalty free withdrawal window after 5 years.
During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis.
Beginning with the first contract year, and each year thereafter, this annuity provides up to 10% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.
This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.
Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.
CUNA Mutual – CMFG Life Insurance Co is rated “A” by A.M. Best, was founded in 1935, and has over $16.6 billion in total assets.
Nov 7th, 2022
Premium Amount: $100,000 - $999,999 High-Band
|5 Year Guarantee Period Annual Yield:||5.00%|
|Interest rate start of year 1 through end of year 5:||5.00%|
Premium Amount: $10,000 - $99,999 Low-Band
|5 Year Guarantee Period Annual Yield:||4.70%|
|Interest rate start of year 1 through end of year 5:||4.70%|
Initial Surrender Charge and MVA Periods
Early Surrender Charges: 5 years
Market Value Adjustment (MVA): 5 years
Penalty Free Full Withdrawal Window Available After: 5 years
State variations may exist, refer to product disclosure for details.
Min Premium Non-Qualified: $10,000
Max Premium Non-Qualified: $999,999
Max Issue Age Non-Qualified: 85
Rate Lock on Transfers: 60 days
Death Benefit: Accumulation Value
Min Premium Qualified: $10,000
Max Premium Qualified: $999,999
Max Issue Age Qualified: 85
Subject to MVA: Yes
Income Rider Available: No
Penalty Free Withdrawal Provisions
First Year Withdrawals: 10%
Cumulative Withdrawals: No
Penalty Waivers: Annuitization, Death, Hospitalization, Nursing Home and Terminal Illness
Years 2+ Withdrawals: 10%
RMD Friendly: Yes
See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.
Not available in: CA and NY (as of 10/01/2022)