FIT Retirement Series

The Next Generation of Retirement Solutions

Our new FIT Retirement Series lets you choose from four flexible premium indexed annuities to customize a strategy for each client’s specific accumulation and income goals.

Help your customers be Financially Independent for Tomorrow by offering them MORE:

MORE Upside: Tax-deferred interest crediting potential, 0% floor guarantees1 and a wide selection of index strategies to benefit and protect from market conditions.

MORE Liquidity: A free withdrawal feature in years 2+2 and, for 403(b) and 457(b) policies, an emergency access waiver with no charges or MVA.

MORE Options: Two new, exclusive low-volatility index strategies provide clients with more choices among low-volatility crediting methods.

Solutions Tailored to Consumer Needs

Whether they want to self-distribute or prefer a guaranteed income stream, your clients can find the best FIT for their short- and long-term accumulation and income needs.

SHORT-TERM NEEDS

FIT Rewards Growth

FIT Rewards Growth Persona

5% Immediate Interest Credit jump-starts savings for short-term accumulation

Fills the need for an initial boost to savings that will help add to overall accumulation as retirement gets closer.

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Carol, Age: 52

Current Savings: None  |  Monthly Savings: $500

Time horizon: < 10 years  |  Ideal vehicle: Non-qualified annuity

FIT Certain Income

FIT Certain Income Persona

100% Predictable Income and Bonus on benefit calculation base

Helps meet multiple needs including a medical emergency to protect savings3 and guarantee lifetime income.

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Frank, Age: 53

Current Savings: $150,000  |  Monthly Savings: $300

Time horizon: < 10 years  |  Ideal vehicle: 403(b)

LONG-TERM NEEDS

FIT Secure Growth

FIT Secure Growth Persona

Maximum upside interest crediting potential for long-term accumulation objectives

Meets the desire for growth and protection of hard-earned savings with the flexibility to self-distribute down the road.

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Barbara, Age: 38

Current Savings: $50,000  |  Monthly Savings: $200

Time horizon: > 10 years  |  Ideal vehicle: IRA

FIT Select Income

FIT Select Income Persona

Activation Bonus and Built-in Increase in income when index interest is credited

Addresses combined goals of saving more now while providing the potential for increasing future income, then locking in any increases.

View Brochure |  Watch Video |  Visit Product Page

Wade, Age: 35

Current Savings: None  |  Monthly Savings: $400

Time horizon: > 10 years  |  Ideal vehicle: Roth IRA

More Crediting Methods with More Potential

FIT Retirement Series offers many indexing choices to widen your customers’ crediting options as their needs change over time.

FIT Retirement Series Index Strategies

The Barclays Low Volatility 5 Index and Bank of America/Merrill Lynch GPA Index are exclusive to National Life Group, and all offer the downside protection of a 0% floor guarantee. We also offer Annual Point-to-Point with Cap and Declared Rate strategies.

All, except for the Annual Monthly Sum Cap S&P 500 Index (see below), are credited based on the index change from the beginning to the end of the year, and are adjusted by either a Cap, Participation Rate or Threshold, depending on the index.

Moreover, customers are free to allocate their values among the different index strategies at any time, within certain guidelines.

Our Index Options

Barclays Low Volatility 5 Index

Developed just for National Life Group, this index tracks the performance of 50 value-oriented stocks that exhibit lower price volatility compared to the overall market.

  • The tracked companies represent established (min. $5 billion market capitalization), stable firms and are diversified across sectors.
  • Barclays will alter the group’s composition to respond to changing market conditions.
  • Designed to control volatility, this index has no need for a cap. Interest is credited above Barclays pre-determined Threshold, which is declared at the start of each account year. The maximum Threshold is guaranteed at 10%.

Bank of America/Merrill Lynch Graded Portfolio Allocation (GPA) Index

Also created just for National Life Group, this index aims to minimize volatility through a blend of equities, Real Estate Investment Trusts (REITs) and bonds.

  • BofAML rebalances allocations to help capture gains and reduce risk, and applies a stop-loss mechanism that reduces exposure to underperforming asset classes.
  • Its volatility controls result in no need for a cap. Interest is based in part on the Participation Rate, which is set each year. The guaranteed minimum participation rate is 10%.

Annual Point-to-Point S&P 500 Index

This index tracks the performance of the S&P 500 Index, the world’s leading benchmark comprised of 500 leading companies based on market capitalization.

  • The Cap is determined at the start of the account year. We guarantee the annual Cap will never fall below 1% for this index.

Annual Monthly Sum Cap S&P 500

This index also tracks the world’s premier equities benchmark, but its credit is calculated based in part on the 12 monthly changes in the index during the year. Unlike the point-to-point crediting method, we apply the Cap to each monthly change, then total the 12 months (both positive and negative) to determine the credited amount.

  • This crediting method offers strong interest potential during market upturns.
  • The Cap is determined at the start of the account year. The guaranteed minimum monthly Cap for this index is 0.25%.

Declared Crediting Strategy

A basic yet effective indexing approach, in which interest is credited daily at a declared effective annual rate that we set at the start of each one-year crediting period.

  • We offer a 0.25% minimum declared rate guarantee for this strategy.

Additional Benefits

Guaranteed Lifetime Income Rider (GLIR)  

The GLIR rider ensures that customers have the option to receive retirement income that they can never outlive, while leaving them in control of their remaining accumulation value.

The rider is required, at additional cost, on FIT Select Income and FIT Certain Income and is not available on FIT Rewards Growth and FIT Secure Growth.

Flexible Contribution Options  

Easy funding choices can help FIT Retirement Series customers go with the flow. Regularly scheduled contributions can be a low as $100 a month, using either payroll deduction or bank drafts. Or, clients can start a policy with a single premium of $5,000 or more and add additional money down the road.

More Powerful Illustrations  

Your customers will see how their account can build over time, or what their income could be, based on their specific needs. To serve this need you will be able to illustrate all the FIT Retirement Series in the Foresight illustration system to project income AND accumulation on all the new products.4

Mobile App  

You can project the Guaranteed Lifetime Income Rider (GLIR) on the fly for FIT Certain Income and FIT Select Income through the Quick Quote agent mobile app for phones and tablets. The app – for agent use only – is designed to help you save time as you prepare for more detailed client discussions.

Emergency Access Waiver for 403(b) and 457(b) plans  

The FIT Retirement Series Emergency Access Waiver is available after the first policy year to use after an unforeseen hardship, such as a medical emergency, or after a separation from service or disability.

Here's how it works:

  • For TPA-approved hardship or unforeseen emergency distributions payable to the annuitant, beginning in the second policy year the waiver forgives all withdrawal charges and Market Value Adjustment.
  • For separations or disability distribution payable to the annuitant, withdrawal charges and MVA are waived on:
    • 20% of accumulated value in years 2-4
    • 100% of accumulated value in years 5+
  • Policy must be in 403(b) or 457(b) status.

Keep in mind, any distributions are subject to federal income taxes and, if applicable, a 10% early distribution penalty.

Non-Qualified Strategies Too  

All four FIT Retirement Series products can be used as part of a non-qualified annuity to help supplement a retirement income strategy. Among other things, non-qualified annuities offer your clients:

  • Higher contribution amounts compared to most qualified products.5
  • Tax-free income on original post-tax contributions.6
  • Freedom from restrictions due to having other plans or products, as well as no RMDs7 nor 10% early distribution penalties on original investment amounts.
  • More distribution options for non-spousal beneficiaries.

Before you Sell

Make sure you are ready to sell these new products by completing your required training:

1.  Log into your National Life Group portal

2.  Hover over Training/Product, and choose Annuity

3.  Once on the annuity screen, select Products Training

4.  On the Products Training page, review the Indexed Annuity Product link

5.  Attest you reviewed the information

The FIT Retirement Series is not available in NY.

More Resources

Product Comparison Brochure |  Monthly Sum Cap Flyer |  Interest Rates |  FIT Consumer Marketing eKit |  FIT Retirement Series Flow Chart |  Training Webinar Calendar |  BofAML GPA Index

Training Videos

Illustration Training

Consumer Videos

 

Understanding the Emergency Access Waiver Rider

Cat No. 104256

FIT Retirement Series gives you MORE