GENERAL INFORMATION & KEY TERMS
*SWIVEL does not purport to definitively represent what the holdings are of any client at any financial institution and the information appearing on any snapshot should be verified with the respective financial institution.
*SWIVEL does not purport to confirm or validate the rating, financial claims paying ability or applicability of FDIC or SIPIC to any financial institution whose products are reflected in any snapshot.
*SWIVEL does not receive any commission, endorsement credit, or soft dollars in connection with any product reflected in any snapshot.
*The information contained on any snapshot is not a solicitation to buy, sell or hold any product or investment.
*SWIVEL does not purport to provide tax advice in connection with the portrayal of any snapshot information, and its information cannot be relied upon for any reporting to the IRS.
*SWIVEL is not the custodian of any holding, or custodian of record of any information contained in any snapshot.
*SWIVEL does not have, nor did it have at the point of sale, any involvement in the recommendation to buy, sell or hold any product reflected on any snapshot.
*The specific surrender charges that apply to surrenders or withdrawals taken in excess of any applicable free withdrawals provisions are identified in the Financial Institution’s policy documents, and may be inconsistent with what is on the SWIVEL snapshot.
*Withdrawals and any distributions are taxed as ordinary income and, if taken from a qualified account prior to age 59 ½ may be subject to a 10% additional tax.
*Depending on the length of time a policy is held, where surrendered early, some variable insurance products may impose an additional tax penalty even if not held in qualified accounts. SWIVEL does not purport to reflect any and all penalties.
*Client snapshots are draft illustrations, and any quantitative number identified in the SWIVEL program are obtained from statements or data bases of various, differing and often times unrelated financial institutions, therefore individual data may be in error, and resulting aggregation may also be in error.
*Because financial institutions vary in terms of a) the timing of calculating valuations in their data base or statements, b) the timing of posting updated information to their data base or statements, c) limitations imposed by the financial institution, d) the existence of fees or penalties and d) the criteria they utilize to reduce their financial information to a quantitative number, the information created in the SWIVEL snapshot is offered solely as a non-definitive draft.
*Clients can and should rely only on the back up information held by each of the respective financial institutions who are the custodian of those records.
*Because each product is different, various features specific to the product being synopsized may not be reflected in the SWIVEL snapshot.
*SWIVEL snapshots, whether viewed on a singular product basis, or as a summary of a client’s holdings of multiple different products, are not financial statements and do not replace or purport to be an alternative or substitution of the underlying financial institution’s periodic financial statements produced for the benefit of the client.
*Definition of terms utilized by financial institutions may vary, and therefore aggregating quantitative numbers from different financial institutions, even if identified by each using the same term, may create an error in a snapshot.
*SWIVEL does not sponsor, promote, make comparisons, or any representation regarding any product shown in any generated snapshot.
* The snapshots created by SWIVEL are generated using an automation software system and should be used for informational purposes only. While the program was developed to deliver reliable content, SWIVEL cannot guarantee the accuracy, completeness, or timeliness of the information provided. Any actions or recommendations made based solely on the content are at the user’s own risk. Validation and supplementing the information contained in any snapshot should occur.
*SWIVEL obtains price evaluations from outside parties and SWIVEL shall have no responsibility for the definition, accuracy or timeliness of any such valuations.
*SWIVEL does not certify or validate the existence or liquidity of any product reflected on any snapshot.
*Any third-party trademarks appearing within SWIVEL are the property of their respective owners.
*The definition of any term used on the SWIVEL platform may vary product to product, or among financial institutions. The definitions can be found on the periodic statements or communications of the respective product’s Financial Institution. Any question in this regard should be directed to the Financial Institution.
*SWIVEL has no affiliation with any Financial Institution.
*Nothing in any SWIVEL snapshot should be relied upon as a prediction of future events, pricing, valuations, or guarantees of performance.