Target Income 10®

Built for Plan A, Equipped for Plan B. When life happens, Target Income 10® protects your retirement income and gives you the flexibility to handle the changes as they come.


  • Income with simple guaranteed lifetime withdrawal benefit (GLWB).1
  • Accumulation potential to maximize both the account value and death benefit growth for potential legacy planning in case of death or if your income plans change.
  • Flexibility to adapt to life’s changes and make decisions based on the needs of that time—means more control should the unexpected happen.
 
  • Terminate the rider at any time and stop fees immediately.
  • Choose Single/Joint election when guaranteed income is turned on (instead of at the time of application) so you can make a choice based on your current need, at no additional cost.
  • Consolidate assets into a single solution by not limiting the ability to add additional premiums.
  • Turn on income when you need it any day after the first year and get that day’s roll-up—no waiting for an anniversary for a benefit base increase—with the benefit of our daily roll-up.
  • Take partial withdrawals2 from your account value—10% annual free withdrawal amount. And if you have the GLWB, a partial withdrawal taken prior to accessing lifetime income does NOT stop your roll-up.

Target Income 10® protects your retirement income and gives you the flexibility to handle the unexpected and the control to make decisions based on the needs of that time.

 

Ways to access your income:

Guaranteed lifetime withdrawals

Target Income 10® offers an optional Guaranteed Lifetime Withdrawal Benefit rider, available for an additional fee, that provides lifetime income even if your account value should go to zero, as long as certain requirements are met.

Free/periodic withdrawals3

After the first contract year, you can withdraw up to the greater of 10% of the last anniversary value of your account or required minimum distributions (RMDs) with no surrender charges or market value adjustment (MVA). MVA is an adjustment to the account for changes in the interest rate environment (based on an external, publicly available rate index - Moody’s Bond Indices -- Corporate Average) that is applied to withdrawals and surrenders that exceed the 10% free withdrawal amount during the first 10 contract years. After the first ten years, you can make withdrawals without surrender charges when you need them, in any amount. However, if you take withdrawals from your contract before then, you could pay a surrender charge for any amount that exceeds the 10% free withdrawal amount. The exceptions to paying the early withdrawal charges are:

  • If you are required to take Required Minimum Distributions (RMDs) starting at age 72
  • If, after first contract anniversary, you need to make a one-time withdrawal to pay for nursing home, hospice care or a terminal illness subject to restrictions

Surrender charges are paid on early withdrawals and surrenders based on a gradually decreasing schedule for each guarantee period year. Please see your product brochure or contract for more details about the 10-year surrender charge schedule.

Withdrawals will reduce your future retirement earnings potential.

Minimum guaranteed surrender value

If you cash in or “surrender” your contract early (before the contract’s 10-year maturity date) you will be subject to surrender charges based on the 10-year surrender charge schedule. However, your contract’s Minimum Guaranteed Surrender Value (MGSV) will never be less than 87.5% of premiums paid plus interest earned at the minimum guaranteed rate stated in the contract, minus any withdrawals and applicable withdrawal assessments, plus interest earned at the nonforfeiture rate stated in the contract. MGSV ends upon the annuity date or contract termination.

Annuity payments

When you transition to retirement, Target Income 10® gives you the flexibility to take income in the way that best suits your needs and goals.

Other features:

Reallocation

You have the flexibility to reallocate your index strategies at the end of the crediting method term if your needs, goals or risk tolerance shift over time. With a range of choices, this also gives you the ability to diversify in changing markets.

Guaranteed death benefit

If you die before you begin receiving annuity income payments, Target Income 10® guarantees that your beneficiary will receive at least the account value (including all the interest you’ve earned and minus any withdrawals taken) and may avoid probate.4

Index-linked Options Sponsored by Global Leaders

Morgan Stanley
Morgan Stanley is a leading global financial services firm with offices in New York City, London, Tokyo, Hong Kong and other world financial centers. The firm provides investment banking, securities, wealth management and investment management services to clients worldwide including corporations, governments, institutions and individuals.

First Trust

At First Trust, their experience, history of innovation and diversity of offerings are all part of their mission and are the only way they know to become a trusted financial professional. Because they consider each financial professional and his or her customer integral to their business, and truly our most valuable investment, they are committed to their best interests. They provide exceptional resources that help financial professionals define goals, solve problems and develop long-term strategies to help their clients achieve their dreams and goals. They believe that this kind of leadership will provide the most fundamentally sound investment products and financial professional support available in today’s marketplace.

CIBC Capital Markets and Richard Bernstein Advisors LLC

CIBC Capital Markets works with domestic and international organizations looking for a banking relationship that combines in-depth industry knowledge with comprehensive capital markets, corporate banking and investment banking capabilities to address their most pressing needs. We strive to forge strong and deep relationships with our clients to understand the demands of their business and bring distinctive and appropriate solutions to the table.

Richard Bernstein Advisors LLC (RBA) is an investment manager focusing on longer-term investment strategies that combine top-down, macroeconomic analysis and quantitatively-driven portfolio construction. We strive to be the leading provider of innovative investment solutions for investors, and our competitive edge is our research-driven macro style of investing. Our top-down macro approach differentiates our firm from the more common, traditional bottom-up approach of most asset managers. Our extensive array of macro indicators allows us to construct portfolios for clients that are innovative, risk-controlled, and focused on overall portfolio construction instead of individual stock selection.

 

Greater accumulation of account value can be vital should your liquidity needs change. Target Income 10® gives you the potential to maximize both your account value and death benefit growth for potential legacy planning in case of death or should your income plans require adjustment. Target Income 10® offers simple and transparent accumulation potential with:

  • A diverse set of index options that cover a variety of geography, strategies/styles, and most importantly, asset classes.
  • Competitive rates/caps/spreads to maximize both your account value and death benefit growth.
  • Banded rates that reward you with higher rates as you accumulate.
  • A unique five-year crediting strategy that offers multi-year options, while recognizing the need for payoffs during the term.
  • Your earnings grow 100% tax deferred, until you start taking withdrawals or income payments.
  • An optional rider that can provide lifetime income, protection of your principal and competitive accumulation potential based on the performance of the interest rate options you select.
When market index is up, annuity account value can rise. But when market index is down or flat, the annuity does not lose value.

This chart is a hypothetical representation of fixed index annuity growth under varying market/index conditions and is not meant to represent the performance of any Delaware Life fixed index annuity (FIA) product. It does not reflect any potential withdrawals or associated surrender charges. Interest credited to a FIA is subject to caps, spreads and/or participation rates that affect the proportion of index gains the annuity captures. Account value is the sum of all premiums, plus accumulated interest, and minus the amount of any withdrawals. This is not a guarantee of performance and does not predict performance. Annuities do not participate directly in the stock market or any index. They are insurance products designed to help you prepare for the future.

Like all fixed index annuities (FIAs), Target Income 10® offers growth potential and principal protection—plus a choice of income options when you’re ready to retire. But it's the optional Guaranteed Lifetime Withdrawal Benefit (GLWB) rider available with Target Income 10® that really boosts the value of this annuity. This extra rider, available for an additional fee, accelerates your accumulation of income benefits by:

  • Adding a 5% bonus to your benefit base for all premiums you pay during the first year of your contract. The benefit base is not a surrender value or death benefit and is not available as a lump sum.
  • Growing the benefit base by 7% each year for the first 10 years.

How the GLWB rider can boost the value of your annuity payments. A 7% simple interest roll-up helps your future income grow. Your initial premium of $100,000 grows to $105,000 in year 1 with the 5% premium bonus. Add the 7% simple interest rollup each year and in year 10, your benefit base has grown to $175,000. This includes the 5% ($5,000) bonus on first-year premiums.

This is a hypothetical example for illustrative purposes only and does not reflect earnings in any particular product.


Ways to grow your savings: fixed account option and/or index-linked option(s)

Fixed rate

Payments allocated to this option will be credited with a fixed interest rate that is specified on the date the contract is effective. Each year, Delaware Life Insurance Company will declare new interest rates to reflect current conditions, but never less than a minimum guaranteed rate. If you want more certainty about the amount of interest that will be credited to your account value, this may be the choice for you.

First Trust Capital Strength® Barclays 5% Index

The First Trust Capital Strength® Barclays 5% Index creates a diversified portfolio by combining U.S. stocks selected based on capital strength methodology with a portfolio of four Barclays U.S. Treasury futures indexes. The index seeks to enhance return and manage risk exposure by adjusting the portfolio’s asset allocation on a monthly basis using techniques from modern portfolio theory. It aims to maintain an annual volatility level at or below 5%, using a procedure called volatility control, to further control risk.

S&P 500® Index

For those who want to earn interest based on the performance of a range of large U.S. businesses, this index is widely regarded as a premier benchmark for the domestic stock market. It contains stocks from 500 leading companies in various industries.

Morgan Stanley Global Opportunities Index

This index uses a rules-based, multi-asset strategy and a trend-following methodology to make allocations to global equities, interest rates and commodities. This approach is intended to diversify risk and balance exposure to various market risk factors to reduce the portfolio’s natural volatility. The index is managed to a 5% target volatility over the long term and may also include a cash allocation to reduce overall volatility.

Watch a video about the Morgan Stanley Global Opportunities Index

RBA Select Equity Yield CIBC 5% Index

The index focuses on 100 of the top U.S. dividend-paying stocks through a methodology based on leading market research and fundamental analysis of financial factors. This systematic rules-based, quantitative investment strategy seeks to consistently enhance returns through a targeted set of reliable and sustainable dividend-paying equities.

View current fixed index annuity prices See prices

More about Target Income 10®

Guaranteed principal to protect your retirement money

Unlike other retirement products, a fixed index annuity is not an investment in individual securities.

Target Income 10® documentation

Videos

Footnotes

1The optional Guaranteed Lifetime Withdrawal Benefit (GLWB) rider is available at additional cost. The benefit base is not a cash or surrender value or death benefit and is not available as a lump sum.

2During the first 10 years of your annuity contract, you can withdraw up to 10% of the value of your annuity account each year without paying any extra “early surrender” charges. Any early withdrawals taken in excess of these amounts will be subject to the surrender charges specified in your contract. But remember: The taxable portion of any withdrawal is taxed as ordinary income, and you may have to pay a 10% federal tax penalty if you are younger than age 59½.

3 Charges will apply to the excess amount withdrawn in that contract year. Withdrawals may be subject to a market value adjustment, which may decrease or increase your surrender value depending on how interest rates have changed since you first purchased your annuity (not applicable in every state). A market value adjustment (MVA) is an adjustment applied to withdrawals and surrenders in excess of the free annual withdrawal amount during the first 10 contract years. MVA does not apply upon payment of death benefit. State variations may apply. Withdrawals are taxed as ordinary income and you may have to pay a 10% federal tax penalty if you are younger than age 59 ½.

4 The death benefit amount is the greater of account value or minimum guaranteed surrender value. The death benefit is subject to adjustments for applicable charges and taxes.

5 “Deutsche Bank” means Deutsche Bank AG and its affiliated companies, as context requires. Deutsche Bank does not render legal or tax advice and information in this communication should not be regarded as such. While volatility control may result in less fluctuation in rates of return as compared to indexes without volatility controls, they may also reduce the overall rate of return as compared to products not subject to volatility controls. Obligations to make payments under the annuity are solely the obligation of Delaware Life and are not the responsibility of Deutsche Bank. The selection of an index as a crediting option under the annuity does not obligate Delaware Life or Deutsche Bank to invest annuity payments in the components of any Index.

Target Income 10® Legal Disclosure

All products and/or options may not be available in all states. Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details. For use with policy forms ICC17-DLIC-FIA-17, ICC17- GLWB-03, ICC15-DLIC-TIW-01 and ICC15-DLIC-NHW-01. Policy and rider form numbers may vary by state.

Target Income 10® is currently approved for sale in all states except NY, and in PR.

Morgan Stanley

This product is not sponsored, endorsed, sold or promoted by Morgan Stanley or any of its affiliates. Neither Morgan Stanley nor any other party (including, without limitation, any calculation agents or data providers) makes any representation or warranty, express or implied, regarding the advisability of purchasing this product. The Morgan Stanley Global Opportunities Index (the “Index”) is the exclusive property of Morgan Stanley. Morgan Stanley and the Index are service marks of Morgan Stanley and have been licensed for use by Delaware Life Insurance Company for certain purposes. Morgan Stanley will not have any obligation or liability to owners of this product in connection with the administration or marketing of this product, and neither Morgan Stanley nor any other party guarantees the accuracy and/or the completeness of the Index or any data included therein. Morgan Stanley and its affiliates may engage in transactions involving components of the Index for their proprietary accounts and/or for accounts of their clients, which may affect the value of such components and the level of the Index.

There are risks associated with any product linked to the Morgan Stanley Global Opportunities Index:

  • Allocation to a crediting method using the Index provides the potential for interest to be credited based in part on the performance of the Index.
  • The Index may not increase in value due to a number of factors and as a result there may be no interest credited to the annuity contract.
  • Because the Index is managed to a volatility target, the Index performance will not match the performance of the underlying Index components and may dampen the performance of the Index in rising markets.
  • The Index has a limited performance history and past performance is no indication of future performance.
  • The Index may be comprised of a small number of index components at any given time and the performance of the index involves risk associated with international and U.S. equities and bonds, commodities and precious metals, which may impact the Index value and the interest credited to the annuity contract.
  • Premium allocated to a crediting method using the Index is not a direct investment in the stock markets, bond markets, commodities, precious metals or in the index.
  • Purchasers of products linked to the index will have no access to the components underlying the Index.
  • The Index is calculated on excess return basis.

Barclays and First Trust®

Neither Barclays Bank PLC ("BB PLC") nor any of its affiliates (collectively ‘Barclays’) is the issuer or producer of Delaware Life Target Income 10® fixed index annuity and Barclays has no responsibilities, obligations or duties to investors in Delaware Life Target Income 10®. The First Trust Capital Strength® Barclays 5% Index (the 'Index'), together with any Barclays indices that are components of the Index, is a trademark owned by Barclays and, together with any component indices and index data, is licensed for use by Delaware Life Insurance Company as the issuer or producer of Delaware Life Target Income 10® fixed index annuity (the 'Issuer').

Barclays’ only relationship with the Issuer in respect of the Index is the licensing of the Index, which is administered, compiled and published by BB PLC in its role as the index sponsor (the ‘Index Sponsor’) without regard to the Issuer or the Delaware Life Target Income 10® or investors in the Delaware Life Target Income 10®. Additionally, Delaware Life Insurance Company as issuer or producer of Delaware Life Target Income 10® may for itself execute transaction(s) with Barclays in or relating to the Index in connection with Delaware Life Target Income 10®. Investors acquire Delaware Life Target Income 10® from Delaware Life Insurance Company and investors neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in Delaware Life Target Income 10®. The Delaware Life Target Income 10® is not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the Delaware Life Target Income 10® or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, investors or to other third parties in respect of the use or accuracy of the Index or any data included therein.

Barclays Index Administration (“BINDA”), a distinct function within BB PLC, is responsible for day-to-day governance of BB PLC’s activities as Index Sponsor.

To protect the integrity of Barclays’ indices, BB PLC has in place a control framework designed to identify and remove and/or mitigate (as appropriate) conflicts of interest. Within the control framework, BINDA has the following specific responsibilities:

  • oversight of any third-party index calculation agent;
  • acting as approvals body for index lifecycle events (index launch, change and retirement); and
  • resolving unforeseen index calculation issues where discretion or interpretation may be required (for example: upon the occurrence of market disruption events).

To promote the independence of BINDA, the function is operationally separate from BB PLC’s sales, trading and structuring desks, investment managers, and other business units that have, or may be perceived to have, interests that may conflict with the independence or integrity of Barclays’ indices.

Notwithstanding the foregoing, potential conflicts of interest exist as a consequence of BB PLC providing indices alongside its other businesses. Please note the following in relation to Barclays’ indices:

  • BB PLC may act in multiple capacities with respect to a particular index including, but not limited to, functioning as index sponsor, index administrator, index owner and licensor.
  • Sales, trading or structuring desks in BB PLC may launch products linked to the performance of a index. These products are typically hedged by BB PLC’s trading desks. In hedging an index, a trading desk may purchase or sell constituents of that index. These purchases or sales may affect the prices of the index constituents which could in turn affect the level of that index.
  • BB PLC may establish investment funds that track an index or otherwise use an index for portfolio or asset allocation decisions.

The Index Sponsor is under no obligation to continue the administration, compilation and publication of the Index or the level of the Index. While the Index Sponsor currently employs the methodology ascribed to the Index (and application of such methodology shall be conclusive and binding), no assurance can be given that market, regulatory, juridical, financial, fiscal or other circumstances (including, but not limited to, any changes to or any suspension or termination of or any other events affecting any constituent within the Index) will not arise that would, in the view of the Index Sponsor, necessitate an adjustment, modification or change of such methodology. In certain circumstances, the Index Sponsor may suspend or terminate the Index. The Index Sponsor has appointed a third-party agent (the ‘Index Calculation Agent’) to calculate and maintain the Index. While the Index Sponsor is responsible for the operation of the Index, certain aspects have thus been outsourced to the Index Calculation Agent.

Barclays

a. makes no representation or warranty, express or implied, to the Issuer or any member of the public regarding the advisability of investing in transactions generally or the ability of the Index to track the performance of any market or underlying assets or data; and

b. has no obligation to take the needs of the Issuer into consideration in administering, compiling or publishing the Index.

Barclays has no obligation or liability in connection with administration, marketing or trading of the Delaware Life Target Income 10®.

The licensing agreement between Delaware Life Insurance Company and BB PLC is solely for the benefit of Delaware Life Insurance Company and Barclays and not for the benefit of the owners of the Delaware Life Target Income 10®, investors or other third parties.

BARCLAYS DOES NOT GUARANTEE, AND SHALL HAVE NO LIABILITY TO THE PURCHASERS AND TRADERS, AS THE CASE MAY BE, OF THE TRANSACTION OR TO THIRD PARTIES FOR THE QUALITY, ACCURACY AND/OR COMPLETENESS OF THE INDEX / OR ANY DATA INCLUDED THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE INDEX. BARCLAYS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEX INCLUDING, WITHOUT LIMITATION, THE INDICES, OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL BARCLAYS HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBLITY OF SUCH DAMAGES SAVE TO THE EXTENT THAT SUCH EXCLUSION OF LIABILITY IS PROHIBITED BY LAW.

None of the information supplied by Barclays and used in this publication may be reproduced in any manner without the prior written permission of Barclays Bank PLC. Barclays Bank PLC is registered in England No. 1026167. Registered office 1 Churchill Place London E14 5HP.

Bloomberg Index Services Limited is the official index calculation and maintenance agent of the Index, an index owned and administered by Barclays. Bloomberg Index Services Limited does not guarantee the timeliness, accurateness, or completeness of the Index calculations or any data or information relating to the Index. Bloomberg Index Services Limited makes no warranty, express or implied, as to the Index or any data or values relating thereto or results to be obtained therefrom, and expressly disclaims all warranties of merchantability and fitness for a particular purpose with respect thereto. To the maximum extent allowed by law, Bloomberg Index Services Limited, its affiliates, and all of their respective partners, employees, subcontractors, agents, suppliers and vendors (collectively, the “protected parties”) shall have no liability or responsibility, contingent or otherwise, for any injury or damages, whether caused by the negligence of a protected party or otherwise, arising in connection with the calculation of the Index or any data or values included therein or in connection therewith and shall not be liable for any lost profits, losses, punitive, incidental or consequential damages.

First Trust®, First Trust & Design®, and First Trust Capital Strength® (“Mark”) is a registered trademark of First Trust Portfolios LP (“First Trust”) and has been licensed for use by Delaware Life. Delaware Life Target Income 10® (“Product”) is not sponsored, endorsed, sold or promoted by First Trust. FIRST TRUST MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY DELAWARE LIFE, A PRODUCT ISSUER, THE INVESTORS IN THE PRODUCT, OWNERS OF THE PRODUCT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE MARKS OR PRODUCT. FIRST TRUST EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OF THE PRODUCT.

CIBC

The RBA Select Equity Yield CIBC 5% Index[TM] (the “Index”) is the exclusive property of Canadian Imperial Bank of Commerce (Canadian Imperial Bank of Commerce, together with its affiliates, “CIBC”). CIBC has engaged Solactive AG (together with its affiliates, “Solactive”) to maintain and to make certain calculations related to the Index. “Canadian Imperial Bank of Commerce”, “CIBC” and the names of the “Index” (collectively, the “CIBC Marks”) are trademarks or service marks of CIBC. CIBC has licensed use of the Index and the CIBC Marks to Delaware Life Insurance Company (“DLIC”) for use in one or more products offered by DLIC (the “Product(s)”). CIBC developed the Index without considering the needs of DLIC or any annuity owner or annuitant. CIBC is not the issuer of the Products and its sole contractual relationship with DLIC is to license the use of the Index and the CIBC Marks to DLIC.

Richard Bernstein Advisors LLC (“RBA”) contributed to the development of the Index without considering the needs of DLIC or any annuity owner or annuitant. Neither CIBC, RBA or Solactive make any representation or warranty, express or implied, regarding the Index or their development and have no responsibilities, obligations or liabilities with respect to the inception, adjustment, maintenance, operation or calculation of the Index. None of CIBC, RBA or Solactive are affiliated with each other or control or are controlled by each other. “RBA Richard Bernstein Advisors®” is a registered trademark of RBA. RBA has licensed certain rights to CIBC to use its name in connection with the Index.

None of CIBC, RBA, Solactive or any other third-party licensor (collectively, the “Index Parties”) to CIBC is acting, or has been authorized to act, as an agent of DLIC or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any Products or provided investment advice to DLIC. No Index Party is a fiduciary or agent of any purchaser, seller or holder of any Product, or has made any representation or warranty, express or implied, regarding the advisability of purchasing, selling or holding any Product or the ability of any Index to track corresponding or relative market performance. Purchasers of any Product neither acquire any interest in any Index nor enter into any relationship of any kind whatsoever with any of the Index Parties. No Index Party guarantees the timeliness, accurateness, or completeness of any Index or any data or information relating thereto and shall have no liability in connection with any Index or any data or information relating thereto. No Index Party shall have any liability with respect to any Product, nor any liability for any loss relating to any Product, whether arising directly or indirectly from the use of any Index, its methodology, or otherwise. The selection of any Index for use with any Product does not obligate DLIC to invest in the components of such Index. Any obligation to invest annuity premiums or other amounts received under the Products is determined solely by DLIC.

Solactive is a trademark and service mark of Solactive AG. Solactive is not affiliated with DLIC or CIBC. Solactive’s association with CIBC is limited to Solactive’s role to act as the administrator and calculation agent of the Index, which is the exclusive property of CIBC. The Products are not sponsored, promoted, sold or supported in any other manner by Solactive nor does Solactive offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade mark or any Index level at any time or in any other respect.

In calculating the level of the Index, the index methodology may deduct a maintenance fee. This fee will reduce the level of the Index and thus the Index’s return, if any. Furthermore, any Index that includes a volatility control as part of the index methodology may result in less fluctuation in rates of return as compared to indices without volatility controls. It may also reduce the overall rate of return for products referencing such Index as compared to other indices not subject to volatility controls.

Standard & Poor’s®

The Standard & Poor’s 500® (”S&P 500®“) is a product of S&P Dow Jones Indices LLC or its affiliates (”SPDJI”) and has been licensed for use by Delaware Life Insurance Company (”Delaware Life”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (”S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (”Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Delaware Life. Retirement Chapters 10® is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500®.

Delaware Life

Annuity withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. For nonqualified contracts, an additional 3.8% federal tax may apply on net investment income. If withdrawals and other distributions are taken prior to age 59½, an additional 10% federal tax may apply. A withdrawal charge and a market value adjustment (MVA) also may apply. Withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits.

Fixed index annuities are not securities and do not participate directly in the stock market or any index, and are not investments. It is not possible to invest directly in an index.

Riders are available for additional expenses.