ForeIncome II and Income 150+SE FIA Updates Effective 10/28/2024

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Global Atlantic is committed to diligently managing our business. In response to a challenging rate environment, we will be making the following changes to our ForeIncome II and Income 150+SE fixed index annuities, both effective October 28, 2024. 

  • ForeIncome II Guaranteed Income Builder Benefit Rider roll-up1 rate will decrease from 12% to 10%.*
  • Decreases to the Lifetime Withdrawal Percentages on both ForeIncome II ‘s GLWB riders (Guaranteed Income Builder Benefit and Income Multiplier Benefit) and Income 150+ SE FIA.2

Availability applies to new business only. Not all products, features and materials are available at all firms or in all states.

Marketing Materials

Impacted marketing materials will be updated and available on October 28, 2024.

NAIC Product Training

If you have previously completed NAIC product training for ForeIncome and Income 150+ SE after January 16, 2024, you do not need to retake NAIC product training. 

New business application signed (paper) or submitted (electronically) prior to 10/28/24 

  • Must use old product disclosure form. 

Application signed (paper) or submitted (electronically) on or after 10/28/24 

  • Must use new product disclosure form. 

 

  • All enhancements will be applied according to the application signed date (paper) or submit date (electronically)*.
  • For applications signed (paper) or submitted (electronically) prior to 10/28/24, but received after 10/28/24, the old features will be applied until 11/15/24.**
  • For an e-application started prior to 10/28/24, but submitted (electronically) after 10/28/24, they will receive the new features.
View Income Factors

* The submit date is the date the financial professional electronically submits the eApplication. Depending upon the Distributor process, the application will either go for applicable review at the Distributor or be transmitted directly to Global Atlantic. 

** Applications funded via 1035 exchanges or Transfers must be fully funded by 12/28/24. 

1 Also known as a deferral bonus.

2 Withdrawals prior to income activation will eliminate the Deferral Bonuses in the year of withdrawal. Withdrawals prior to activation and those in excess of the guaranteed income will reduce the Withdrawal Base and associated income proportionately to the contract value reduction associated with the excess amount. With the Guaranteed Income Builder Benefit option, your clients will get a consistent 10% of their initial premium (adjusted for withdrawals) added to their Withdrawal Base every year until income activation. The income benefit is included on date of issue for an annual charge of 1.20% of the Withdrawal Base at the end of each contract year. The Withdrawal Base is a separate numerical value and only used to help determine the amount of future income. It is not available for cash surrender or as a death benefit