Give clients the flexibility and control needed to create a legacy strategy that fits their needs. Schwab Genesis Variable AnnuityTM and Schwab Genesis Advisory Variable AnnuityTM contracts offer a choice of legacy protection options to help clients efficiently transfer wealth to loved ones.
2 death benefit options for ensuring a legacy
Clients can choose an option to help them reach their unique legacy goals.
See how the Return of Purchase Payments enhanced death benefit works
With our Return of Purchase Payments death benefit, should your client pass away before starting annuity income payments, their beneficiaries will receive the greater of the contract value or total investment in the variable annuity, less an adjustment for each prior withdrawal. This benefit is available from ages 0-85 and costs 0.2% (annualized).
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We’re ready to help you deliver the protection and security your clients deserve. Reach out to us anytime for questions and support, and we’ll get in touch with you as soon as possible.
Schwab Genesis Variable Annuity and Schwab Genesis Advisory Variable Annuity are flexible premium deferred variable and fixed annuity contracts issued by PLICO in all states except New York under policy form series VDA-P-2006. SecurePay Life benefits provided by rider form number VDA-P-6057 Policy form numbers, product availability and product features may vary by state.
Variable annuities are long-term investments intended for retirement planning and involve market risk and the possible loss of principal. Investments in variable annuities are subject to fees and changes from the insurance company and the investment managers.
Withdrawals reduce the annuity’s remaining death benefit, contract value, cash surrender value and future earnings. Withdrawals may be subject to income tax and, if taken prior to age 59½, an additional 10% IRS tax penalty may apply. More frequent withdrawals may reduce earnings more than annual withdrawals. During the withdrawal charge period, withdrawals in excess of the penalty-free amount may be subject to a withdrawal charge.
Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity, any optional protected lifetime income benefit, and the underlying investment options before investing. This and other information is contained in the prospectuses for a variable annuity and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at 800-456-6330.
WEB.5935498.08.24
Variable annuities are long-term investments intended for retirement planning and involve market risk and the possible loss of principal. Investments in variable annuities are subject to fees and changes from the insurance company and the investment managers.
Withdrawals reduce the annuity’s remaining death benefit, contract value, cash surrender value and future earnings. Withdrawals may be subject to income tax and, if taken prior to age 59½, an additional 10% IRS tax penalty may apply. More frequent withdrawals may reduce earnings more than annual withdrawals. During the withdrawal charge period, withdrawals in excess of the penalty-free amount may be subject to a withdrawal charge.
Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity, any optional protected lifetime income benefit, and the underlying investment options before investing. This and other information is contained in the prospectuses for a variable annuity and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at 800-456-6330.
WEB.5935498.08.24