SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C. 20549 |
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FORM N-6 |
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REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |
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Pre-Effective Amendment No. _____ |
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Post-Effective Amendment No. _____ |
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and/or |
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 |
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Amendment No. _____ |
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(Check appropriate box or boxes.) |
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(Exact Name of Registrant) |
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SIX-SHOOTER LIFE INSURANCE COMPANY |
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(Name of Depositor) |
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Six Hills Drive, Suite 600 New Bedroom, CT |
07921-9898 |
(Address of Depositor's Principal Executive Offices) |
(Zip Code) |
(714) 555-5555 |
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(Depositor's Telephone Number, including Area Code) |
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Six Shooter Agents LLC Six State Executive Park Wellesley Hills, MA 02481 |
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(Name and Address of Agent for Service) |
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As soon as practicable after the effective date of the Registration statement. |
It is proposed that this filing will become effective (check appropriate box): |
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immediately upon filing pursuant to paragraph (b) |
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on (date) pursuant to paragraph (b) |
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60 days after filing pursuant to paragraph (a) |
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on (date) pursuant to paragraph (a) |
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75 days after filing pursuant to paragraph (a)(2) on (date) |
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on (date) pursuant to paragraph (a)(2) of rule 485 under the Securities Act. |
If appropriate, check the following box: |
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this post-effective amendment designates a new effective date for a previously-filed post-effective amendment. |
Front Cover Page. Include information on the outside front cover page of the prospectus.
Important Information You Should Consider About the Contract.
FEES AND EXPENSES |
Charges for Early Withdrawals |
If the contract owner withdraws money from the Contract within 7
years following his or her last purchase payment, he or she will be assessed a surrender charge.
Surrender charge (as a percentage of Purchase Payments surrendered/withdrawn)1: 7.00% We may also apply an Interest Adjustment to amounts being withdrawn, surrendered or transferred from a Guaranteed Period account (except for dollar cost averaging, cross-reinvestment, withdrawals)up to the Maximum Annual Withdrawal amount. See Fixed Side of the Contract. For example, if you make an early withdrawal, you could pay a surrender charge of up to $7,000 on a $100,000 investment. 1 The surrender charge percentage is reduced over a 7-year period at the following rates: 7%, 7%, 6%, 6%, 5%, 4%, 3%. The later the redemption occurs, the lower the surrender charge with respect to that surrender or withdrawal. We may reduce or waive this charge in certain situations. See Charges and Other Deductions - Surrender Charge. |
Transaction Charges |
The contract owner may also be charged for other transactions. These include front-end loads (sales charges), back-end loads (redemption fees), charges for transferring Contract value between investment options (exchange fees), and miscellaneous fees for services such as wire transfers. |
Ongoing Fees and Expenses (annual charges) |
In addition to surrender charges and transaction charges, an investment in the Contract is
subject to certain ongoing fees and expenses, including fees and expenses covering the cost of insurance
under the Contract and the cost of optional benefits available under the Contract, and that such fees and
expenses are set based on characteristics of the insured (e.g., age, sex, and rating classification).
Investors should view the policy specifications page of their Contract for rates applicable to their
Contract.
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Annual Fee |
Minimum |
Maximum |
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Investment options (Portfolio Company fees and expenses) |
1.375% |
2.50% |
RISKS |
Risk of Loss |
You may lose money. This is not an FDIC insured deposit. |
Not a Short-Term Investment |
This is not an appropriate investment for an investment horizon of less than 20 years. |
Risks Associated with Portfolio Companys |
The value of investments will rise and fall. We try to have long positions while they are rising and short positions when they are falling, but sometimes we get it backwards. We get our pre- and post- positions reversed, at which point we are pre-post-erous. |
Depositor Risks |
Fire, floods, earthquakes, mud slides, volcanoes, tsunamis, lightning, invasion, civil unrest, pandemic, meteor strikes, zombie apocalypse, etc. Our financial strength rating was AAAAA++ as of the end of 2019. This places our company in the top 1 percent of all depositors. |
Contract Lapse |
Insufficient premium payments, poor investment performance, withdrawals, unpaid loans or loan interest may result in contract lapse. Reinstating a lapsed Contract costs twenty-nine lapses with garden hose. Death benefits will not be paid if the Contract has lapsed. |
RESTRICTIONS |
Investments |
This is how investments are restricted. They are put on restriction when they perform poorly. This is how investments are restricted. |
Optional Benefits |
This is how optional benefits are restricted. They are put on restriction when there are too many claims. This is how optional benefits are restricted. |
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All payments made are subject to federal, state and local taxes in the year each payment is made. |
Tax Implications | All payments made are subject to federal, state and local taxes in the year each payment is made. |
CONFLICTS OF INTEREST |
Investment Professional Compensation |
Investment professionals compensation may in part be based on sales charges collected. |
Exchanges |
We endeavor to avoid conflicts upon exchanging funds between investments. |
This is a concise description of the Contract.
The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected.
The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from the Contract, or transfer Contract value between Investment Options.
Transaction Fees | |||
Charge | When Charge is Deducted | Amount Deducted (Maximum) | Amount Deducted (Current) |
Maximum Sales Charge Imposed on Premiums (Load) | Upon purchase |
0.50%
of average daily value |
1.00% |
Premium Taxes | Monthly |
0.50%
of purchase amount |
1.00% |
Maximum Deferred Sales Charge (Load) | Upon redemption |
0.50%
of contract value |
1.00% |
Other Surrender Fees | Monthly |
0.50%
upon redemption |
1.00% |
Transfer Fees | Per transfer |
0.50%
of value |
1.00% |
This text would be for "Sales Load, Note [Text Block]".
This text would be for "Premium Taxes, Note [Text Block]".
This text would be for "Deferred Sales Charge, Note [Text Block]".
This text would be for "Other Surrender Fees, Note [Text Block]".
This text would be for "Transfer Fees, Note [Text Block] ".
The next table describes the fees and expenses that you will pay periodically during the time that you own the Policy, not including Portfolio Company fees and expenses.
If you choose to purchase an optional benefit, you will pay additional charges, as shown below.
Periodic Charges Other Than Annual Portfolio Company Expenses | |||
Charge | When Charge is Deducted | Amount Deducted (Minimum) | Amount Deducted (Maximum) |
Base contract charge: | Annually | 0.50% | 1.00% |
Insurance cost: | Monthly | 0.50% | 1.00% |
Insurance cost for a Representative Investor: | Monthly | 0.50% | 1.00% |
Maintenance fee: | Annually | 0.50% | 1.00% |
Mortality and Expense Risk fees: | Annually | 0.50% | 1.00% |
Mortality Risk fees (only): | Annually | 0.50% | 1.00% |
Expense Risk fees (only): | Annually | 0.50% | 1.00% |
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0.50% | 1.00% |
Optional Benefit Charge: | Annually | 0.50% | 1.00% |
This text would be for "Base Contract Charge, Note [Text Block]".
This text would be for "Insurance Cost, Note [Text Block]".
This text would be for "Insurance Cost (Representative), Note [Text Block]".
This text would be for "Annual Maintenance Fee, Note [Text Block]".
This text would be for "Mortality and Expense Risk Fees, Note [Text Block]".
This text would be for "Administrative Expenses, Note [Text Block]".
This text would be for "Optional Benefit Charges, Note [Text Block]".
The next item shows the minimum and maximum total operating expenses charged by the Portfolio Companies that you may pay periodically during the time that you own the Contract. [These amounts also include applicable Platform Charges if you choose to invest in certain Portfolio Companies.] A complete list of Portfolio Companies available under the Contract, including their annual expenses, may be found at the back of this document.
Annual Portfolio Company Expenses |
Minimum |
Maximum |
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(expenses that are deducted from Portfolio Company assets, including management fees, distribution and/or service (12b-1) fees, and other expenses) |
1.00 |
% |
1.00 |
% |
Additional text about Basis of Percentage [Text Block].
Additional text about Portfolio Company Expenses [Text Block].
This section discusses risks associated with some features of the contract. See “Definition of key terms” earlier in this Prospectus and “Contract features and benefits” later in this Prospectus for more detailed explanations of terms associated with the Structured Investment Option.
There is a risk of a substantial loss of your principal and previously credited interest because you agree to absorb all losses from the portion of any negative Index Performance Rate that exceeds the Segment Buffer on the Segment Maturity Date or Annual Lock Anniversary. The risk of loss of principal and previously credited interest can become greater in the case of a withdrawal (including a systematic withdrawal, a required minimum distribution, or a withdrawal to pay advisory fees under a Series contract), annuitization, death, surrender, contract cancellation, or transfer prior to a Segment Maturity Date due to charges and adjustments imposed on those distributions, and this may occur even if index performance has been positive.
Insurance Company Risk
No company other than this has any legal responsibility to pay amounts that we owe under the contract including amounts allocated to the structured investment option. The general obligations and any guaranteed benefits under the contract are supported by our general account and are subject to our claims paying ability. You should look solely to our financial strength for our claims-paying ability.
Not a short-term investment
The contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash because the contract is designed to provide for the accumulation of retirement savings and income on a long-term basis. As such, you should not use the contract as a short-term investment or savings vehicle and you should consider whether investing in the contract is consistent with the purpose for which the investment is being considered.
This is about the registrant, insurance company and investment options.
A section about charges.
This is a section generally describing the contracts.
This is a section about premiums.
This is a section about standard death benefits.
This describes when insurance coverage is effective; when the death benefit is calculated and payable; how the death benefit is calculated; who has the right to choose the form of benefit and the procedure for choosing the form of benefit, including when the choice is made and whether the choice is revocable; the forms the benefit may take and the form of benefit that will be provided if a particular form has not been elected; whether there is a minimum death benefit guarantee associated with the Contract; and if an investor may increase or decrease the face amount of the death benefit.
This describes when insurance coverage is effective; when the death benefit is calculated and payable; how the death benefit is calculated; who has the right to choose the form of benefit and the procedure for choosing the form of benefit, including when the choice is made and whether the choice is revocable; the forms the benefit may take and the form of benefit that will be provided if a particular form has not been elected; whether there is a minimum death benefit guarantee associated with the Contract; and if an investor may increase or decrease the face amount of the death benefit.
An investor may change the face amount of the standard death benefit. There are minimum and the maximum amounts. This may require additional evidence of insurability. Charges and sales loads may be affected.
The investment performance of the Portfolio Companies, expenses, and deduction of charges affect contract values will affect standard death benefits.
In addition to the standard death benefit(s) associated with your contract, other standard and/or optional benefits may also be available to you. The following table(s) summarize information about those benefits. Information about the fees associated with each benefit included in the table(s) may be found in the Fee Table.
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/ Limitations |
Guaranteed Minimum Death Benefit |
Provide for your loved ones in the event of demise. |
Optional |
Not available to residents of Wyoming. |
Guaranteed Minimum Withdrawal |
Permit withdrawals in the event of urgent need. |
Optional |
None |
Guaranteed Minimum Income |
An annuity is so much better when it guarantees income, in fact it's kind of the whole point. |
Standard |
None |
Guaranteed Minimum Accumulation |
Guarantee a positive second derivative. |
Optional |
None |
Unique Benefit |
Places our investment advisors on call 24 hours a days. |
Standard |
No restrictions. |
Description of Other Benefits
Unique Benefit
This benefit is standard. The benefit operates when the fee of 1 dollar annually per $1,000,000 of coverage is paid. The calculation of the fee is determined as of each policy anniversary and is rounded up to the nearest whole dollar.
Description of Benefit Restrictions, Limitations, and Risks
Unique Benefit
Limitations and restrictions for these benefits are described here. The risks associated with the benefits are covered in the "Key Information" section on Risks.
Surrenders and Withdrawals go here.
Loans go here.
Lapse and Reinstatement go here.
Tax consequences go here.
Material legal proceedings go here.
Financial Statements go here.
The following is a list of Portfolio Companies available under the Contract. More information about the Portfolio Companys is available in the Statutory Prospectus for the Contract, which can be requested at no cost by following the instructions on the front cover page or beginning of the Summary Prospectus.
The current expenses and performance information below reflects contract fees and expenses that are paid by each investor. Each Portfolio Company's past performance is not necessarily an indication of future performance.
Type/ Investment Objective |
Portfolio Company and Adviser/ Subadviser |
Current Expenses |
Platform Charges |
Current Expenses (Including Platform Charges) |
Average Annual Total Returns
(excluding optional benefit expenses (as of 12/31/_) |
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1 year |
5 year |
10 year |
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Long-term growth of capital | Portfolio Company A, Peter, Paul & Mary | 1.75% | 1.75% | (left blank) | 5.0% | 27.8% | 63.8% |
Current income | Portfolio Company B, Howard, Fine & Howard | (left blank) | 1.75% | 5.00% | 27.84% | 63.76% |
Some portfolio companies are not available for all benefits. This is the text of 18(1)(e) Some Portfolio Companies Not Available for all Benefits (N-4) [Text Block]".
Portfolio Company |
[Benefit #1] |
[Benefit #2] |
[Benefit #3] |
[Benefit #4] |
Portfolio Company A |
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Portfolio Company B |
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Portfolio Company C |
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Portfolio Company D |
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There are some temporary fee reductions available for some portfolio companies.
There is a platform charge for investing in portfolio companies.
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant (certifies that it meets all of the requirements for effectiveness of this registration statement under rule 485(b) under the Securities Act and) has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of , and State of , on this day of .
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Date |