Elevate® Your Retirement

Balanced Choice® Annuity Elevate


There’s a better way to take control and grow your retirement savings.

Elevate Your Growth Potential

BCA Elevate® offers a unique growth opportunity for your retirement savings. You can earn interest based on the positive movement of an index at the end of each two-year term. Negative index performance during any term will not impact the value of your annuity. BCA Elevate also helps you:

  • Track Values Daily
    The Balanced Allocation Value provides a daily valuation of the potential growth through each term.
  • Lock In Positive Performance
    At the end of every two-year term, Interest Earnings, if any, are locked in and cannot be lost due to negative index performance.1
  • Benefit from Gains To-Date on Free Withdrawals
    Because values are tracked daily, if you take a free withdrawal during a two-year term, you will receive any Interest Earnings to-date on the amount withdrawn.2
What is a fixed indexed annuity?

A fixed indexed annuity is a contract issued by an insurance company. In exchange for your premium, the insurance company provides the opportunity for growth based in part on the performance of an underlying index within a larger strategy while protecting your money from downside market risk. Fixed indexed annuities are not stock market investments and do not directly participate in any stock or equity investments or index. It is not possible to invest directly in an index. All guarantees are backed by the claims-paying ability of the issuing carrier and may be subject to annual fees. Other restrictions and limitations may apply

Elevate Your Retirement Savings

BCA Elevate helps take your retirement savings to a new level and protects your money from downside market risk. The graph below shows how the BAV is tracked every day and Interest Earnings, if any, are locked in every two years.

BCA Elevate

The graph above is intended for informational purposes only and it does not depict actual performance of any BCA Elevate contract or any index. It assumes no rider charges, including strategy rider charges, or withdrawals, which will reduce the Accumulation Value.

The Accumulation Value is your premium plus any Interest Earnings. The Accumulation Value will be reduced by any applicable charges and withdrawals.3 Interest Earnings are credited every two years.

Key Terms and Definitions

Balanced Allocation Strategy (BAS) – The BAS determines Interest Earnings using a formula combining an index allocation and, if applicable, a declared rate allocation. Interest Earnings, if any, are based on a combination of growth in the index and declared rate allocation under the strategy. The BAS may apply an annual strategy rider charge which is calculated by multiplying the Accumulation Value and a strategy charge rate on every contract anniversary. A portion of that charge (1/12th) is deducted from the Accumulation Value each month. All rates are set at contract issue and guaranteed for the first two-year term. For current rates and allocations, please see the rate sheet. A specific crediting strategy may not be available for the life of the contract.

Explanation of Lifetime Income Rider and Rider Charge – The Balanced Allocation Lifetime Income Rider — Stacked Growth Option Max (SGO Max) is an optional rider that must be elected at contract issue and is available for an annual rider charge. The annual rider charge of 1.00% of the Income Base is calculated at the beginning of every contract year. The charge is deducted in monthly installments from the Accumulation Value as well as from the Minimum Guaranteed Contract Value in some states. On the 10th contract anniversary, you may elect to extend Income Base growth up to the 18th contract anniversary. The rider charge may increase starting at the beginning of the 11th contact year.

Income Base – The Income Base is used to determine the annual Lifetime Income Withdrawals and annual Rider Charge, if applicable. SGO Max offers Income Base growth at a daily rate that is equivalent to 5% annual compound interest plus 100% of any BCA Elevate Interest Earnings every two years, minus the Strategy Rider charge, if applicable. Income Base growth is credited to the Income Base through the earlier of beginning Lifetime Income Withdrawals or the 10th contract anniversary (or up to the 18th anniversary if the roll-up is extended as discussed above). If you begin Lifetime Income Withdrawals before the end of a two-year term, Interest Earnings, if any, will be credited pro rata to the Income Base. The Income Base is not an amount that has a cash value or surrender value that can be paid out partially or in a lump sum. Withdrawals, prior to commencing Lifetime Income Withdrawals, will reduce the Income Base by the same percentage that the Accumulation Value is reduced for the withdrawal. However, the dollar amount of this reduction will not be less than the deduction from the Accumulation Value. After Lifetime Income Withdrawals have commenced, withdrawals up to the Lifetime Income Withdrawal amount will reduce the Income Base by the dollar amount of the withdrawal, while withdrawals in excess of the Lifetime Income Withdrawal amount will reduce the Income Base and future Lifetime Income Withdrawals by the same percentage that the Accumulation Value is reduced for the withdrawal. Withdrawals may also be subject to Withdrawal Charges, Premium Bonus Vesting Adjustments or Market Value Adjustments (MVAs), if applicable. For more information, please see the Certificate of Disclosure.

Lifetime Income Withdrawals – Lifetime Income Withdrawals are calculated by multiplying the greater of the Income Base or Accumulation Value by the current Annual Withdrawal Percentage when Lifetime Income Withdrawals begin. The Annual Withdrawal Percentage depends on the income option elected and is determined by the “Age” Lifetime Income Withdrawals begin. “Age” means your attained age for Single Life or the younger of your attained age or your spouse’s attained age for Joint Life when your spouse is listed as the sole beneficiary or the contract is jointly owned. In general, the longer you wait to take income, the greater the initial Annual Withdrawal Percentage will be. When you’re ready to begin Lifetime Income Withdrawals, FGO offers the following options:

  • Level Income Option offers the highest initial amount.
  • Inflation-Indexed Income Option increases the lifetime income annually based on increases in the Consumer Price Index, if any. Increases are capped at 10% per year and stop when the Maximum Inflation Adjustment Period has elapsed, which varies by state.
  • Earnings-Indexed Income Option may increase the lifetime income at the end of every 2-year strategy term based on the rate of interest credited, if any, in the BCA Elevate strategy until the Accumulation Value is reduced to zero, after which time lifetime income will increase by 1% annually.

The Inflation-Indexed Income Option and Earnings-Indexed Income Option offer less initial income than the Level Income Option but may provide more income over your lifetime due to potential increases after beginning Lifetime Income Withdrawals. Lifetime Income Withdrawals will continue even if they ultimately reduce the Accumulation Value to zero. Withdrawals in excess of the Lifetime Income Withdrawal may be subject to a Withdrawal Charge, MVA and Premium Bonus Vesting Adjustment and will reduce future Lifetime Income Withdrawals. Withdrawals in some instances could terminate the rider. For more information, please see the Certificate of Disclosure and ask your insurance professional. Withdrawals and surrender may be subject to federal and state income tax and, except under certain circumstances, will be subject to an IRS penalty if taken prior to age 59½.

Confinement and Terminal Illness Waivers – After the first contract anniversary, you can withdraw up to 100% of your annuity‘s value if you, as the annuitant, are diagnosed with a Terminal Illness or an illness or serious injury necessitates a stay of 60 consecutive days or more at a Qualified Care Facility. Any applicable Withdrawal Charges, MVA or Premium Bonus Vesting Adjustments will be waived. For more information, please see the Additional Product Information and Certificate of Disclosure.

Death Benefit – Should you, as the annuitant, pass away before you begin receiving annuity payments, the full value of the annuity will be payable to your beneficiary or beneficiaries. The Death Benefit will be the greater of the contract‘s Cash Surrender Value or the Balanced Allocation Value. A Withdrawal Charge and applicable Premium Bonus Vesting Adjustments or MVAs will not be applied to the death benefit paid. Under certain circumstances, spousal beneficiaries may be able to continue the contract. After annuitization, payments will be consistent with the Settlement Option selected. Taxes may apply.

Family Endowment Rider Max (FER Max) – An Enhanced Death Benefit is available through an optional rider that pays a minimum amount equal to the initial premium accumulated at a specified interest rate plus BCA Elevate Interest Earnings, if any, every two years (minus withdrawals). At death, your beneficiary will receive the greater of the base contract death benefit or the Enhanced Death Benefit. The Premium or Step-up Bonus rider provides a one-time bonus, which enhances the Accumulation Value. The annual rider charge of 0.50% (0.85% for the Premium Bonus rider) is calculated at the beginning of every contract year based on the Enhanced Death Benefit Crediting Base multiplied by the annual rider charge rate. The charge is deducted at the beginning of each month at the rate of 1/12th of the annual rider charge from the Accumulation Value and Minimum Guaranteed Contract Value until the Rider Charge Stop Date. The Family Endowment Rider cannot be terminated once it has been purchased and attached to the BCA Elevate contract; the rider will terminate only upon the Annuity Date or upon payment of a death benefit under the provisions of the contract.

FER Max Withdrawals and Tax Considerations – Withdrawals of any type will reduce the Enhanced Death Benefit. The first 5% of the Accumulation Value withdrawn in any contract year will reduce the Enhanced Death Benefit on a dollar-for-dollar basis. Withdrawals in excess of 5% in any contract year will reduce the Enhanced Death Benefit proportionally. Any amounts withdrawn in excess of the Free Withdrawal amount will be subject to Withdrawal Charges, Premium Bonus Vesting Adjustments and, if applicable, MVAs. For more information, please see the Additional Product Information and Certificate of Disclosure. The Family Endowment Rider Max is not life insurance, and any benefit payable under the rider will be taxable. The information contained herein is based on our understanding of current tax law. The tax and legislative information may be subject to change and different interpretations.

Free Withdrawals – The Free Withdrawal Amount is 5% of the Accumulation Value in the first year and 10% of the Accumulation Value for all remaining years. Withdrawals in excess of the Free Withdrawal Amount will not receive gains to-date and will be subject to any applicable Withdrawal Charges, Premium Bonus Vesting Adjustments and an MVA. Gains to-date are not credited on Lifetime Income Withdrawals or to withdrawals in excess of the Free Withdrawal Amount. Withdrawals and surrender may be subject to federal and state income tax and, except under certain circumstances, will be subject to an additional tax if taken prior to age 59½. For more information, please see the Additional Product Information.

Market Value Adjustment (MVA) – The MVA applies to withdrawals greater than the Free Withdrawal amount and may increase or decrease the amount you receive. For more information, please see the Additional Product Information. MVA does not apply in AK, CT, HI, MN, MO, NJ, OR, PA, UT, WA.

Minimum Guaranteed Contract Value – You will receive a minimum interest crediting rate on a percentage of your premium adjusted for withdrawals and optional rider charges while the contract is in effect, regardless of market conditions, providing a minimum value the contract will not fall below.

Required Minimum Distributions – BCA Elevate waives Withdrawal Charges, MVA and Premium Bonus Vesting Adjustments, if applicable, if you need to take Required Minimum Distributions after turning age 70½.

Return of Premium Guarantee – Provided that you do not take any withdrawals, including a full surrender, that are subject to a Withdrawal Charge, the Cash Surrender Value of your contract after the Withdrawal Charge period will never be less than the premium paid plus any applicable premium or step-up bonus, adjusted for withdrawals. This means that your premium and any bonus will be returned to you even if strategy charges and rider charges associated with any optional riders added to the contract are greater than the interest earnings credited to your account.