RetireMax®PLUS LSW’s Single Premium Deferred Annuity Series Life Insurance Company of the Southwest A Member of the National Life Group® Protecting Your Retirement Savings if you want retirement income beyond what you will receive from Social Security or a pension plan. But your retirement dream can turn into a nightmare if you end up outliving your savings.000 in savings to supplement their Social Security income for 20 years. If working longer and spending less during your retirement years don’t appeal to you. As life expectancy rates climb. inflation and market downturns. they’ll need about $838. Accumulate More for Retirement RetireMax® Millennium Plus is a single premium deferred annuity and a long-term savings vehicle that may be an excellent addition to your overall financial retirement plan. Health care costs.Integrity You Can Retire On! You’ve worked hard and steadily stashed away savings. which means you pay no taxes on earnings until you begin to withdraw your money. people are living in retirement much longer than previous generations. the greater chance that you may outlive your assets in retirement. you should craft a solid retirement plan today that considers the risks of longevity. . But if they both live to 100. You also can provide death benefits to your heirs. If a couple wants an annual retirement income of $85. inflation and market downturns can erode your future buying power and savings. Your money grows tax deferred. This example assumes a 7 percent rate of return and 4 percent inflation rate. The longer you live.000 and intends to stop working at age 65. And it’s happening when Social Security and pensions are becoming less secure.3 million — in order to preserve the same lifestyle in retirement. RetireMax® Millennium Plus can be a great way to accumulate money for retirement. If you die prematurely. RetireMax® Millennium Plus can offer a death benefit to your beneficiaries without the costs and delays of probate. they’ll need more than one-and-a-half times that amount — a portfolio worth about $1. Applicable Withdrawal Charges are shown on the back panel of this brochure. The Company is licensed in 49 states and the District of Columbia. www. and tax advisors.† So. Understanding Your Values Your Accumulation Value is your net premium. outside the costs and delays of probate. LSW was incorporated in 1955 under the laws of Texas as a legal reserve insurance company. RetireMax Millennium Plus is backed by the full assets of LSW. accumulated at interest. If you withdraw all of your . • You earn interest on the earnings that would usually be paid in taxes. The information provided here is a summary of our understanding of the current tax laws and regulations as they relate to annuities. Please Note: Neither LSW nor any of its agents or representatives give legal.lifeofsouthwest. accountants. Once issued. contact your agent or LSW. Texas 75247-4921 800-579-2878. A Member of the National Life Group® 1300 West Mockingbird Lane. Life Insurance Company of the Southwest. • You earn interest on your premium. The minimum interest rate is based on a formula established by applicable regulation in your state and will be between 1% and 3%. please contact your LSW agent or call LSW at the telephone number shown below. you want the reassurance that your money is safe. Then. LSW has a corporate investment policy that strongly emphasizes quality investments and safety. you pay no taxes* on earnings until you decide to make a withdrawal. or accounting advice. RetireMax Millennium Plus may give you peace of mind knowing your money is safe. annuity. RetireMax® Millennium Plus is backed by the full assets of Life Insurance Company of the Southwest.com Tax-Deferred Growth RetireMax® Millennium Plus is a single premium deferred annuity that may offer you multiple advantages over alternative programs.. we will deduct them from the Policy benefits. the Accumulation Value less any outstanding loans (if applicable). For the current minimum guaranteed interest rate. RetireMax® Millennium Plus can be purchased as a qualified or nonqualified annuity. which is guaranteed for the life of the policy.About the Company Even when an annuity seems to be the right fit for your financial plan.. interest will be declared annually and credited daily. When we issue your policy. 5% Additional Interest We currently are issuing this Policy with a first-year rate 5% higher than the interest rate guaranteed in the second year. Because it is tax-deferred. these rates are fully guaranteed. tax. you will receive the Accumulation Value less any outstanding loans and applicable Withdrawal Charges. If you want further information on this annuity. it will state the minimum interest rate we will credit. All prospective purchasers should consult with their own attorneys. upon annuitization or withdrawal. * Unless your annuity is pledged or used as security for a loan. If you are the Annuitant and Owner. If LSW must pay such taxes. † A few states require the payment of premium taxes on annuities either at the time the Company receives the premium. will be paid to your named Beneficiaries in case of your death. Dallas. • You earn interest on your accumulated interest. less withdrawals. • the policy has been in force longer than one year when the owner’s hospital and/or long term care stay begins. Withdrawal Charges Policy Year Withdrawal Charge 1 2 3 4 5 6 7 8 9 10 11+ 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 1 Benefits at annuitization could be reduced if a misstatement of age or sex has occurred. WV. The minimum withdrawal is $500. upon annuitization or withdrawal. the Death Benefit. NJ. you can select the retirement option to fit your needs. 2 Nursing Care Rider not available in IL. Individual Owner and Annuitant must be the same person • Plan Options: Qualified and Non-qualified • Withdrawal Charges waived on the death of the Annuitant • This Policy is not contestable • A Withdrawal Charge may apply on amounts withdrawn in excess of free withdrawal Nursing Care Rider2 LSW’s RetireMax® Millennium Plus includes a Nursing Care Rider that will eliminate Withdrawal Charges for policyowners who require long term care if: • the owner (under age 76 on the issue date of the Policy) stays in a hospital and/or professional long term care facility for 60 days or longer. Withdrawals – After the first annuity year. Your annuity offers a number of formal Payment Options including: • Installment Income – This is an ideal choice if you want to receive your money over a fixed period of 10 to 25 years. 7885. and you must maintain at least $5. MA. we will deduct them from the Policy benefits. If the owner is 76 or older on the issue date of the Policy. 3 A few states require the payment of premium taxes on annuities either at the time the Company receives the premium. Under current tax law. RetireMax Millennium Plus is Policy Form No. 7648. corporate entities or qualified plans. PA. If death occurs after a payout option has been selected.000. If you are the Owner but not the Annuitant. all withdrawals from an annuity purchased with non-qualified monies are taxable to the extent there is a gain in the policy. Loans are provided to 403(b) and 457 policies by endorsement in states where approved. Cash Value is the Accumulation Value less applicable Withdrawal Charges. Under certain conditions the IRS may impose a penalty tax on withdrawals made prior to age 59½. If LSW must pay such taxes. If you elect a joint life option. These choices can even be combined with a guaranteed minimum number of years for payment. SC. minus any cash withdrawals and Withdrawal Charges assessed. Highlights Payment Options1 – There is no Withdrawal Charge if you elect a formal Payment Option after five years. Note: There are special rules for annuities owned by trusts. the Death Benefit will equal the Cash Value. you may withdraw up to 10% of your Accumulation Value each annuity year with no charge. the waiver of Withdrawal Charges will apply to a maximum of 25% of the Accumulation Value with only one withdrawal allowed. However. LSW will pay you or your surviving spouse as long as either of you are living. 4 Subject to change without notice. • • • • • Accumulation Value is your initial premium†.000 in your annuity to keep it in force. LSW will continue to pay you as long as you live. 100718 .000 • Maximum premium: Issue Ages 0-75 $1. Death Benefit If you are the Annuitant and you die while this annuity is in force. All withdrawals from annuities purchased with qualified monies are taxed as ordinary income (except withdrawals from Roth IRAs subject to IRS limitations).Accessing Your Annuity Value Through Withdrawals/ Payment Options RetireMax® Millennium Plus offers multiple options to access all or part of your annuity value. • Life Income Options – You cannot outlive your income. LA.000. Withdrawal requests and documentation must be filed no later than 60 days after the end of the stay.000. NH. Withdrawals and payouts are subject to current IRS regulations. MT. WI. Restrictions and additional conditions apply.0004 • Issue age: Annuitant/Owner – up to age 80 (actual age). plus credited interest. Issue Ages 76-80 $500. all of the above provisions will apply. You may choose one of these options at any time when permitted by law. 9386 (1106) Cat. No. refer to Rider Form No. LSW will pay the Accumulation Value to your Beneficiary as a Death Benefit and will waive any remaining Withdrawal Charges. if any. will depend on the payout option selected. Form No. WA. • Enjoy tax-deferred growth • 5% additional first-year interest No administration fees3 Partial withdrawal provisions 403(b)/457(b) loan rider Annual account statement Nursing Care Rider (in states where approved) at no additional cost to you Annuity Provisions • Minimum premium: $5. • the maximum aggregate withdrawal for all of the owner’s policies with this benefit does not exceed $250. Defined Terms: With RetireMax Millennium Plus. 7909 I MILLENPL Form No. Comp Pension/Profit Sharing IRA ROTH IRA IRA Rollover Non-Qualified S0503 Other (specify)_____________________________________________________________________________________________________ Form No.Premium Amount Paid with Application Rollover/Transfer (Approximate) Documentation Submitted With App: Single Transfer(s) or Rollover(s) S0301 SECTION IV . 7909 .Application for Annuity Section I .Owner/Joint Owner/Annuitant Owner’s Name Home Address Home Phone Number Home Fax Number Life Insurance Company of the Southwest (LSW) • 1300 W. non-qualified only) Home Address Home Phone Number DOB (m/d/yy) State Zip Code Age Sex SECTION II .Plan Selected RetireMax Millennium Plus S0403 SECTION V .Plan Qualification 403 (b) TSA 457 Def.Beneficiary Beneficiary 1) 2) Contingent Beneficiary 1) 2) S0201 Relationship Share % % Relationship Share % % SECTION III . Mockingbird Ln. • Dallas. TX 75247-4921 • Customer Service 800-579-2878 S0107 SS No or Taxpayer ID City Home e-mail Address SS No or Taxpayer ID City Home Fax Number Home e-mail Address SS No or Taxpayer ID City Home Fax Number Home e-mail Address DOB (m/d/yy) State Zip Code Age Sex Annuitant’s Name (if different from Owner) Home Address Home Phone Number DOB (m/d/yy) State Zip Code Age Sex Joint Owner’s Name (if applicable. I certify that: (1) the number shown on this application is my correct taxpayer identification number. (1) represents. the Annuitant(s) will furnish the Company with such proof before annuity payments begin. NJ – Notice: Any person who includes any false or misleading information on an application for an insurance policy is subject to criminal and civil penalties. we will provide within a reasonable time. AR/NM/PA – Warning: Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading. LA-Any person who knowingly presents false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison. Return it to our Home Office or to the agent through whom it was purchased. The annuity applied for shall take effect on the date the premium is received by the Company in its Home Office. and. will the annuity applied for replace any of the existing insurance or annuity? Yes No (Applicant to check box) If yes. resident alien). This application and the answers and agreements contained herein shall be the basis of. VA – Any person who. in such annuity and of any amendments contemplated above except that no change shall be made in the plan of annuity or benefits without the written acceptance of the Annuitant(s) or of the Owner if other than the Annuitant(s). You must cross out item 2 if you have been notified by the IRS that you are currently subject to backup withholding because of underreporting interest or dividends on your tax return. The Company is authorized to amend this application by an appropriate notation in the space designated “For Home Office Endorsement Only” in order to correct apparent errors or omissions. with intent to defraud or knowing that he is facilitating a fraud against an insurer. submits an application or files a claim containing a false or deceptive statement may have violated state law. W9: Under the penalties of perjury. _____________ Percent _____ Agent Phone Number ___________________________ Other Agent (print)__________________________ Agent No. _________ Signature of Agent _____________________________ Soliciting Agent (print) _______________________ Agent No. a replacement _______________ is is not involved in this transaction. factual information regarding the benefits and provisions of the annuity to which this application is attached. 21st or 28th of the month following or coincident with the date the premium is received by the Company in its Home Office.Existing Insurance Does the applicant have any existing policies and/or annuities? Yes No (Applicant to check box) S0602 If yes. (2) expressly agrees as follows: 1. The acceptance of any annuity issued on this application shall constitute acceptance and ratification of the beneficiary designation. 4. or has notified me that I am no longer subject to such withholding or I am exempt from such withholding.) Florida License ID No. person (including a U.S. which is a crime. a part of the consideration for and a part of the annuity hereby applied for. SECTION IX – Fraud Warnings and Notices S0901 SECTION X . information concerning any fact material thereto commits a fraudulent insurance act. If returned. _____________ Percent _____ . if other than the Annuitant.Signature and Agent Information S1101 Dated at (city/state) __________________________________on (month/day/year) __________________________________________________ Signature of Owner __________________________________Signature of Annuitant (if different from Owner) _______________________________ Signature of Joint Owner (if applicable)______________________________________ To the best of my knowledge. and (3) I am a U. fines and denial of insurance benefits. which is a crime and subjects such person to criminal and civil penalties. FL – Notice: Any person who knowingly and with intent to injure. or misleading information is guilty of a felony in the third degree. defraud. that all statements and answers contained herein are full.Remarks S0701 SECTION VIII . we will cancel the annuity and return any premium paid. Notice to Residents of AZ: The annuity to which this application is attached may be returned within 31 days after it is received. to the best of their knowledge and belief. defraud.S. or deceive any insurer files an application for insurance containing any materially false information or conceals for the purpose of misleading. 3. or deceive any insurer files a statement of claim or an application containing any false. S1003 SECTION XI . The payment of premium constitutes consideration to the Company for the granting of an annuity and upon payment becomes the absolute property of the Company. complete and true as written and are correctly recorded. 5. (Agent to check box.SECTION VI .For Home Office Endorsement Only (Not applicable in Pennsylvania or West Virginia) S0801 DC/WA – It is a crime to knowingly provide false incomplete or misleading information to an insurance company for the purposes of defrauding the company. (Name of Company) SECTION VII . KY/ME/OH – Any person who knowingly and with intent to injure. incomplete. Penalties include imprisonment. (2) the IRS has never notified me that I am subject to backup withholding.Acknowledgments The Annuitant and the Owner. information concerning any fact material thereto commits a fraudulent insurance act. provide_____________________________________________________________ and complete appropriate replacement and exchange forms. if any. 14th. 2. If proof of age is not given with this application. Upon written request from the Owner. The SecurePlus single premium deferred annuities shall take effect on the 7th.
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