How do I know if the Accumulation Protector PlusSM Annuity is the right product for my needs?
How do I know if the Accumulation Protector PlusSM Annuity is the right product for my needs?
- You have a low-tolerance for risk, and typically invest in CDs, Savings Bonds, Money Market Funds, and Treasury Bills.
- You are looking for a long-term strategy to grow your principal (ideally around 10 years).
- You like to protect your hard earned money.
- You want to preserve the legacy you have built by accumulating more wealth in a reliable way.
- You enjoy having lots of flexible allocation options when growing your money.
- Access to two global, risk-monitored indices with diversified portfolios.
- You are thinking about retiring soon or have retired.
Other Helpful Accumulation Protector PlusSM Annuity FAQ'S
What makes the Accumulation Protector PlusSM (APP) Annuity unique?
The APP Annuity is distinct in the industry because it gives contract holders exclusive access to the Momentum Index (Bloomberg: CSEAMTM5) and the Diversified Macro 5 Index (Bloomberg: CSEAGESG). Both the Momentum Index and the Diversified Macro 5 Index have unique 10 year guarantee of participation rates. The Participation Rates for the Momentum Index and the Diversified Macro 5 Index are guaranteed for 10 years with the selection of the One-year point-to-point or Two-year point-to-point crediting strategies.*
The APP Annuity’s Momentum Index crediting strategies are distinctive in the insurance industry as they give contract holders the ability to accumulate wealth in both bull and bear markets. The risk-monitored Momentum Index diversifies its underlying components across equities, bonds and commodities in four global regions. Implementing a momentum-driven strategy, the Momentum Index takes long positions in components exhibiting the strongest trends and takes short positions in components with weaker trends. This investment approach, coupled with the stable framework of the APP Annuity, provides contract holders with an opportunity to grow their premium during turbulent economic environments.
Additionally, the Diversified Macro 5 Index is a fully rules-based index that offers innovative exposure to multiple asset classes. In an attempt to generate consistent returns over time.
*The Participation Rates for the Momentum Index are guaranteed for 10 years with the selection of the One-year point-to-point or Two-year point-to-point crediting strategies, provided that Atlantic Coast Life Insurance Company continues to have access to the Momentum Index. The Participation Rates for the Diversified Macro 5 Index are guaranteed for 10 years with the selection of the One-year point-to-point or Two-year point-to-point crediting strategies, provided that Atlantic Coast Life Insurance Company continues to have access to the Diversified Macro 5 Index.
What is the Momentum Index?
The Momentum Index is a global multi-asset index that dynamically allocates across its components using a unique and flexible momentum-driven strategy with risk-adjusted weightings. The Momentum Index was designed to adapt to various market conditions and generate consistent returns over time.
The risk-monitored Momentum Index can create value for your annuity in all market types (rising, falling, or remaining the same) by taking long positions (buying) in components exhibiting the strongest trends and short positions (selling) in components with weaker trends.
Access to the Momentum Index is exclusive to buyers of the Accumulation Protector PlusSM Annuity. To learn more about this index, please read the Momentum Index brochure or visit: https://aclappannuity.com/
What is the Diversified Macro 5 Index?
The Diversified Macro 5 Index is a fully rules-based index that offers innovative exposure to multiple asset classes. In an attempt to generate consistent returns over time, the Diversified Macro 5 Index implements a strategy that combines an equity component and a macro component (comprised of sub-strategies across fixed income, commodities and currencies components), complemented by a daily risk control mechanism. To learn more about this index, please read the CS ESG Macro 5 Index brochure or visit: https://appannuity.com/
How does the Accumulation Protector PlusSM (APP) Annuity protect my principal?
Whether the market rises, falls, or remains the same, your principal is guaranteed not to decrease* due to market performance and is protected through the APP’s Fixed and Indexed Accounts.
You do not lose money, including interest earned during previous crediting periods, if the index value drops because your money is allocated to the annuity itself rather than directly to the index (or indices).
*If Rate Enhancement Rider is purchased, principal will not decrease due to market performance but could decrease due to the rider fee.
How can my principal grow through the Accumulation Protector PlusSM (APP) Annuity?
You have the flexibility to choose how your single premium is allocated across eleven crediting strategies. These crediting
strategies include a Fixed Account and ten Indexed Accounts linked to three indices, the Momentum Index, the Diversified Macro 5 Index, and the S&P 500® Index. We know that your life and needs are ever evolving, and that is why you can adjust your allocations on the contract anniversary coinciding with the end of each strategy’s crediting period. At that time, you may allocate to any available strategy for a new crediting period of one, two or three years.
Crediting periods for the Accumulation Protector PlusSM Annuity’s strategies range from one, two, or three years. These crediting strategies include a Fixed Rate account, a Trigger Rate account, and several Point-to-Point accounts with either a Participation Rate or Cap Rate. A Point-to-Point strategy measures the difference in the index’s value on each contract anniversary, comparing it to the value of the index either one, two, or three years earlier, depending on the option you choose.
Whether the market goes up, down, or remains the same, your principal is guaranteed not to decrease* due to market performance and is protected through the APP’s Fixed and Indexed Accounts.
You do not lose money, including interest earned during previous crediting periods, if the index value drops because your money is allocated to the annuity itself rather than directly to the index (or indices).
Are penalty-free withdrawals available?
In the second contract year, the Accumulation Protector PlusSM Annuity allows you to withdraw up to 5% of your Account Value or your Required Minimum Distribution, whichever is greater. It also allows for a penalty-free withdrawal after the first contract year. With the purchase of the Rate Enhancement Rider, this 5% increases to 10%.
What are the benefits of the Rate Enhancement Rider*?
The Rate Enhancement Rider is an excellent feature to add to your annuity if you want to boost your accumulation potential! This rider increases the amount available for free withdrawal from 5% to 10% of your annuity’s Account Value. Additionally, it provides an opportunity to earn more interest as it increases the Fixed, Participation, and Cap rates across your annuity’s crediting strategies. By increasing the Participation and Cap Rates, this rider offers greater exposure to potential index growth, allowing a larger percentage of your premium to be linked to index performance.
*There is a fee with the purchase of the rider. Please refer to Our Products page for current rates and fees.
The Accumulation Protector PlusSM Annuity offers a 110% Return of Premium (ROP) Guarantee if the Rate Enhancement Rider is purchased and the contract persists to year 10. The premium is adjusted for withdrawals.
When is the earliest I can start receiving annuity payments?
In all states other than Florida, annuity payments may begin after the fifth contract year. In Florida, annuity payments may begin after the first contract year.
What death benefit would be paid to my beneficiary?
The Benefit Feature protects your beneficiary. If you pass away before receiving any proceeds* (other than a Withdrawal), the amount payable to your beneficiary(ies) will be the greater of:
- The Account Value minus any Non-Vested Premium Bonus, or
- The Minimum Guaranteed Surrender Value determined as of the date of death.
No withdrawal charges apply to death benefits, and there are several settlement options available to your beneficiary if you pass away:
- Spousal Continuation -The Owner’s spouse, who is the sole primary beneficiary, becomes the Owner and continues to receive the benefits of the APP Annuity.
- Lump Sum – The entire death benefit is paid to the beneficiary in a single payment.
- Additional Settlement Options – Please see the answer to the following question for all Settlement Option details.
*Proceeds are defined as the amount payable when: (1) the Owner surrenders their Contract; (2) the Contract matures; or (3) a Settlement Option is elected through the Early Payout Feature.
What Settlement Options are available with the Accumulation Protector PlusSM Annuity?
Lifetime Income Only
Period Certain Only
Lifetime Income with Guaranteed Period Certain
This settlement option provides equal monthly payments for the greater of the annuitant’s remaining lifetime or a specified period of time. If the annuitant dies before the end of the specified period, the beneficiary will receive the remaining payments for that period.
What if I need money due to severe illness?
If you are diagnosed with a terminal illness or need to move into a nursing home, you can make a full surrender or partial withdrawal with no Market Value Adjustment, Surrender Charge, or loss of any applicable Non-Vested Premium Bonus, under certain conditions.
When can I reallocate my account value?
The APP Annuity offers a diversified set of fixed and indexed crediting strategies with 1, 2 or 3 year periods that allow you and your advisor to choose the accounts and periods that align with your goals. Additionally, you can adjust the allocations on the contract anniversary, coinciding with the end of the crediting period, to continue to meet your changing needs.
What are my options after the 10-year surrender period ends?
The highly flexible APP allows you to continue your annuity – even after the 10-year surrender period ends. You also have the option to withdraw a portion or all of your account value or apply a settlement option to receive annuity payments over time.
How does the bonus become fully vested?
When you purchase the Accumulation Protector PlusSM Annuity you will receive a one-time premium bonus of 5%. The premium bonus is immediately credited to your account, increasing the value of your account and giving you the opportunity to earn additional interest. Your premium bonus and affiliated interest can be accessed subject to your vesting schedule. The vesting schedule applies for 10 contract years, in which the amount of vested premium bonus gradually increases from 0% to 100% vested.
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