What this annuity does, and what it costs

Prepared for The contract owner · evidence as of 2026-10-29 · version 5

Analysis performed on the Annuity Benchmark platform.

5 of the 12 areas that apply to this contract were examined.

The 7 that were not are unexamined, not clear. Nothing has been assumed in their place, and what each one needed is listed below.

Roll-up and step-up analysis. The figures are on file. What is missing is the governing wording for this exact contract form — the rules that say how the figures work for this product rather than for one like it. Nothing here has been answered from a similar product.
Withdrawal and income analysis. The free withdrawal allowance and the account value it is a percentage of. Without them, the platform cannot say whether a withdrawal already taken was within the allowance.
Fees and expenses. This section works on a table of figures rather than one figure — the charges — and that table is not on file. One row of it is not enough, and an average would not be your contract, so nothing here has been estimated.
Surrender and liquidity. This section works on a table of figures rather than one figure — the premium layers and the surrender schedule — and that table is not on file. One row of it is not enough, and an average would not be your contract, so nothing here has been estimated.
Death benefit and beneficiary. The figures are on file. What is missing is the governing wording for this exact contract form — the rules that say how the figures work for this product rather than for one like it. Nothing here has been answered from a similar product.
Contract events. The figures are on file. What is missing is the governing wording for this exact contract form — the rules that say how the figures work for this product rather than for one like it. Nothing here has been answered from a similar product.
Tax and regulatory flagging. Whether this contract is qualified or non-qualified, which changes the treatment of every withdrawal and whether required distributions apply.

The terms of this particular contract form are not yet established, so anything that depends on how this product works — rather than on its values — is reported as not examined. Nothing has been answered from a similar product.

A further 2 areas do not apply to a contract of this kind and were not examined for that reason.

What this review is

This states what the contract does and what it costs, from the documents and carrier answers listed at the end. Every figure here was calculated from those sources and can be traced back to them.

It does not recommend keeping, changing or replacing the contract, and it is not tax or legal advice. Those judgements depend on circumstances this review does not know.

8 questions could not be answered from the evidence available, 7 of them material. This report is therefore incomplete in ways that matter, and says so where they occur.

What this contract costs

Charges assessed on different bases cannot be added together as percentages, so each is shown with what it is assessed on.

All-in annual charge — not established

Charges requires at least 1 row; 0 supplied. Capture each row from the governing document before computing.

Cost of guarantee

Cost of guarantee: $4,656.25. This depends on a stated assumption and is not a guarantee. hypothetical

The rider costs $4,656.25 a year. Under the stated assumption that the account value could sustain 4.00% a year, the guarantee adds $7,889.00 of annual income, so the cost is $0.59 per dollar of incremental guaranteed income. Change the assumption and this figure changes.
This is a factual ratio under a stated assumption. It is not a verdict on whether the rider is worth keeping: that depends on what the owner is trying to achieve, which this figure does not know.

What the contract guarantees

A benefit base is used to calculate an income. It is generally not money that can be withdrawn.

Benefit base projection — not established

The rollup method is not established for this rider version. Simple and compound rollup diverge materially over a ten-year period. Resolve the method from the governing rider form.

Guaranteed annual lifetime withdrawal amount — not established

The guaranteed withdrawal amount depends on conditions that are not verified: the attained age at activation; the single or joint life configuration; the rider's own factor table; the rider's election and activation status. Obtain written carrier confirmation of each before stating a guaranteed income figure.

Death benefit valuation — not established

The death benefit basis is not established for this contract. Resolve it from the contract and any death benefit rider.

Joint continuation — not established

It is not established whether the survivor was designated at issue, and continuation is commonly conditional on that. Confirm the designation date for each covered person with the carrier. A continuation figure that assumes eligibility is a figure the survivor may never see.

Getting at the money

Taking money out can reduce guarantees by more than the amount withdrawn, and the three exit events do not behave the same way.

Surrender value waterfall — not established

Premium_layers requires at least 1 row; 0 supplied. Capture each row from the governing document before computing.

Liquidity horizon — not established

Surrender_schedule requires at least 1 row; 0 supplied. Capture each row from the governing document before computing.

Renewal ladder and contract calendar — not established

The renewal basis is not established for this contract. Resolve from the contract whether renewal is at a declared rate, by a stated formula, or at carrier discretion. The three are materially different promises and the difference is what the owner needs to know.

Questions to put to the carrier

These are the questions this review could not answer from the evidence available, written so they can be asked as they stand. Each one is something the carrier holds; items needing work on our side are not listed here.

Ask the carrier for the withdrawal history against the allowance for each contract year, and for the benefit base before and after each withdrawal. The before and after is the answer; the current base alone does not show what it would have been.

Withdrawal and income analysis cannot be completed without it, so the analysis is silent on free allowance remaining; excess exposure; benefit-reduction effects; current income adequacy.
Ask the carrier for the charges in full, row by row, with the basis of each. A single summary figure cannot be used: these calculations work down the table.

Fees and expenses cannot be completed without it, so the analysis is silent on each charge in dollars on its correct base; combined annual dollars; the percentage equivalence with its denominator named.
Ask the carrier for the premium layers and the surrender schedule in full, row by row, with the basis of each. A single summary figure cannot be used: these calculations work down the table.

Surrender and liquidity cannot be completed without it, so the analysis is silent on the surrender value waterfall; remaining schedule; liquidity now and at horizon.
Ask the carrier whether this contract is qualified or non-qualified, and under which arrangement. It is not inferable from anything else on the statement, it changes the tax treatment of every withdrawal and whether required distributions apply, and guessing it produces an answer that is confidently wrong about all of them.

Tax and regulatory flagging cannot be completed without it, so the analysis is silent on questions for a qualified professional. Never a personalised conclusion.