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Fixed Indexed Annuity Details

Target Income 10

Product Name

Target Income 10

Annuity Type

Fixed Indexed Annuity

Issuing Insurance Company and Ratings

A-
(4th of 15 ratings)
BBB+
(8th of 20 ratings)
Not Rated
Not Rated
52
(percentile of rated companies)

Product Information

The Target Income 10 is a deferred fixed indexed annuity issued by Delaware Life Insurance Company.

This annuity is a premium banded product. The rates you are eligible to earn will vary depending on the amount of premium you deposit (see Rate Details below). When your full premium deposit is allocated to the fixed interest account, the highest first year yield available (including bonus if applicable) is 1.20% on premium amounts of $500,000 - $1,000,000.

You can also allocate your premium between 5 different strategy and index account options (see Index Account Options below). For complete details on index account options, including current cap and participation rates, please contact AnnuityAdvantage at 1.800.239.0356.

An income rider is available that provides the option of activating a guaranteed lifetime income stream at a future date. The income payments cannot be outlived and your contract does not need to be annuitized.

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 in the second contract year, this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.

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.

Delaware Life Insurance Company is rated “A-” by A.M. Best, was founded in 1970, and has over $16.9 billion in total assets.

Rate Details

Nov 2nd, 2020
Not Scheduled

Premium Amount: $500,000 - $1,000,000 High-Band

Current
Fixed Account First Year Yield: 1.20%
Fixed Account Current Interest Rate: 1.20%
Fixed Account Guaranteed Minimum Interest Rate: 1.00%
Index Accounts - Annual Cap and Participation Rates:
Any Index – Highest Participation Rate: 79.00%
S&P 500 – Point-to-Point Cap: 3.00%
S&P 500 – Participation Rate: 20.00%

Premium Amount: $100,000 - $499,999 Mid-Band

Current
Fixed Account First Year Yield: 1.10%
Fixed Account Current Interest Rate: 1.10%
Fixed Account Guaranteed Minimum Interest Rate: 1.00%
Index Accounts - Annual Cap and Participation Rates:
Any Index – Highest Participation Rate: 77.00%
S&P 500 – Point-to-Point Cap: 2.75%
S&P 500 – Participation Rate: 17.00%

Premium Amount: $25,000 - $99,999 Low-Band

Current
Fixed Account First Year Yield: 1.00%
Fixed Account Current Interest Rate: 1.00%
Fixed Account Guaranteed Minimum Interest Rate: 1.00%
Index Accounts - Annual Cap and Participation Rates:
Any Index – Highest Participation Rate: 75.00%
S&P 500 – Point-to-Point Cap: 2.50%
S&P 500 – Participation Rate: 15.00%

Initial Surrender Charge and MVA Periods

10 years

10 years

10 years

State variations may exist, refer to product disclosure for details.

Policy Details

$25,000
$25,000
$1,000,000
$1,000,000
80
80
60 days
Yes
Accumulation Value
Yes

Penalty Free Withdrawal Provisions

None
10%
No
Yes
Annuitization, Death, Nursing Home and Terminal Illness

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Not available in:  NY (as of 07/08/2020)

For NH: No Multi-Year Index Account Options.