- Want boosted withdrawals early in retirement
- Desire protected lifetime income for themselves, or want to include their spouse
- May want to defer withdrawals for 5 or 10 years
Optional Benefit
Boost
StarStream with Boost can provide a greater rate of withdrawal early in retirement, and a lower rate later in retirement. This could be appealing for those who are looking to fund travel or fun retirement purchases during their active retirement years and may rely on other sources to supplement income in later years.
Ideal for clients who:
Because of these features:
- Higher Maximum Protected Annual Withdrawal before Protected Lifetime Income Period begins
- 6% (simple interest) Roll-ups for up to 10 years, in years of no withdrawals
- Annual Step-ups: Grow the Protected Benefit Base to lock in potential investment gains
- Protected Lifetime Income available with single or joint options
- Deferral Credits: Deferring withdrawals for 5 or more years can increase the Maximum Protected Annual Withdrawal rate
- Access to more than 35 Variable Portfolios and Model Portfolios*
Product materials
StarStream variable annuity
Now that you’ve learned more about variable annuities, it might be a good time to speak with your financial professional about whether StarStream variable annuity options align with your retirement planning goals.
Products you can count on
AuguStar Retirement’s annuity products are built with integrity, so you can have confidence in our commitment to long term financial strength and fulfilling our obligations.
* Elect up to 25 Variable Portfolios and adjust allocations up to 25 trading days each contract year without a transfer fee. Please refer to the back page of the Investment Guide for disclosures specific to the variable portfolio options.
When the Contract Value is depleted to $0 (zero) due to Protected Lifetime Withdrawals, the MPAW Rate will be reduced to the rate guaranteed during the Protected Lifetime Income Period at the beginning of the next benefit year following the benefit anniversary in which the Contract Value fell to zero.
Only one Optional Benefit may be elected per contract and may not be changed once elected. Optional Benefits are available for an additional fee.
If an Optional Benefit is elected, Owner and Annuitant must be the same person and any covered life must fall within the allowable age range of the benefit at election.
The current annual Optional Benefit fee is 1.50% charged quarterly. After the 5th benefit year (Charge Freeze Period), the Optional Benefit fee may increase up to a maximum of 2.50%, with no more than a Maximum Annual Optional Benefit Fee Adjustment of 0.40% increase per Benefit Year. You may opt out of future fee increases; however, doing so will forfeit any future increases to your Protected Benefit Base, including Roll-ups, Step-ups, and Deferral Credits. Optional Benefits may be cancelled following the Benefit Cancellation Window after the 7th Benefit Date Yearly Anniversary. Following cancellation the Optional Benefit Fee will no longer be charged.
The initial Protected Benefit Base equals the initial purchase payment. Each year, it increases to the greater of the Roll-up Base or Step-up Base. Excess withdrawals and the Pre-lifetime Withdrawal reduce the Protected Benefit Base proportionately and additional purchase payments increase it by the same amount as the payment.
Deferral Credits are applied after the deferral credit period to the Maximum Protected Annual Withdrawal Rate set at the first Protected Lifetime Withdrawal. Credits apply only to the Protected Benefit Base tied to purchase payments made before the first benefit anniversary. All withdrawals — except the Pre-Lifetime Withdrawal — will stop Deferral Credits from applying.
Variable annuities are long-term investments designed for retirement, subject to market risk, and may lose value. Please read the product and fund prospectuses carefully before you invest or send money. Contact your financial professional or visit augustarfinancial.com to obtain current prospectuses. Investors should consider the investment objectives, strategies, risk factors and charges and expenses of the underlying variable portfolios carefully before investing. The fund prospectus contains this and other information about the underlying variable portfolios.
All contract and optional benefit guarantees are subject to the claims-paying ability of AuguStar Life Insurance Company. Guarantees do not apply to the investment performance or account value of the underlying variable portfolios.
Investments in variable annuities are subject to market risks, including the potential loss of principal. Unit values will fluctuate with the performance of underlying investments, and returns may vary by asset class, investment style, or prevailing economic conditions. Certain asset classes may exhibit greater volatility, and bond portfolios are exposed to interest rate, credit, inflation, and market risks. Tax considerations, including differences in treatment of capital gains and dividends, as well as applicable fees, may affect investment outcomes.
Early withdrawals may be subject to withdrawal charges. Withdrawals may be subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. Withdrawals may reduce the death benefit, full Withdrawal amount and Optional Benefit amounts.
Product availability, including features and benefits, varies by state. Please contact your financial professional for current availability and information. Issuer is not licensed to conduct business in New York.
StarStream variable annuity ICC25-VA-1, ICC25-VA-1U is distributed by AuguStar Distributors, Inc., Member FINRA.