What is the Accumulation Protector PlusSM (APP) Annuity?
The Accumulation Protector PlusSM Annuity (APP) is a fixed indexed annuity designed to both accumulate wealth, and protect it against future market downturns. With access to its exclusive and flexible crediting strategies, the APP offers protection and growth potential in any market.*
*The Accumulation Protector PlusSM (APP) Annuity offers growth potential whether the market goes up, down, or remains the same.
What makes the Accumulation Protector PlusSM (APP) Annuity unique?
*The Participation Rates for the Credit Suisse 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 Credit Suisse Momentum Index. The Participation Rates for the Credit Suisse ESG 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 Credit Suisse ESG Macro 5 Index.
How does the Accumulation Protector PlusSM (APP) Annuity protect my principal?
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).
How can my principal grow through the Accumulation Protector PlusSM (APP) Annuity?
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 greater. 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 a fantastic feature to add to your annuity if you want to take your accumulation power to the next level! This rider increases the amount available for free withdrawal from 5% to 10% of your annuity’s Account Value. Additionally, this rider gives you a better opportunity to earn more interest as it increases the Fixed, Participation, and Cap rates across your annuity’s crediting strategies. Increasing the Participation and Cap Rates offers potential to substantially benefit from the index’s upside, because your premium has access to a larger percentage of an index’s growth.
There is a fee with the purchase of the rider. Please refer to Our Products page for the 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 Death Benefit Feature protects your beneficiary. If you pass away before receiving any proceeds*, other than a Withdrawal, the amount payable to your beneficiary(ies) is equal to the greater of the Account Value less 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:
*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
With this option, the annuitant receives equal monthly payments for the rest of their lifetime. Payments will end with the payment due just before the annuitant’s death. No death benefit is payable with this option.
Period Certain Only
This settlement option guarantees equal monthly payments for a specified period, between 10 years and 20 years. After the fifth contract year, you may request a specific period, with guaranteed equal monthly payments, between 5 years and 20 years. If the annuitant dies before payments have been made for the specified period, the beneficiary will receive remaining payments for the specified period.
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 after payments have been made for the specified period, payments end with the payment due just before the annuitant’s death.
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 most 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.
How do I know if the Accumulation Protector PlusSM Annuity is the right product for my needs?
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