Safe Anchor
In the complex world of retirement planning, annuities stand out as a popular choice for those seeking steady income streams in their golden years. Amidst a crowded market, a few annuity companies have distinguished themselves through their robust financial strength, customer service excellence, and diverse product offerings.
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Atlantic Coast Life’s Safe Anchor Market Guarantee annuity provides flexibility by allowing the selection of optional riders to a 5 year, single premium, a deferred annuity with three different indexing strategies, in addition to a fixed account. These riders eliminate possible Surrender Charges or Market Value Adjustments (MVA) in certain situations. The owner selects only the riders that fit his/her needs without paying for features that he/she doesn’t require.
30 Day Option
30 days prior to the end of any guarantee period, the following options are available:
30 Day Option
30 days prior to the end of any guarantee period, the following options are available:
- Continue the contract for another guarantee period
- Apply the Accumulation Value to a Settlement Option
- Take a withdrawal, with no MVA or Surrender Charges, and apply the remaining value to another guarantee period
- Surrender the contract without MVA or Surrender Charges Settlement Options Option 1 – Life Income Only Option 2 – Life Income with Guaranteed Period Certain Option 3 – Period Certain Only Death Benefit The amount payable if the Owner, or the Annuitant if the Owner is not a Natural Person, dies before annuity payments being are equal to the Cash Surrender Value. The following options are available to each beneficiary:
- Lump Sum
- Distributed within five years
- Installment payments using a Settlement Option (Surrender Charges and MVA are waived)
- Enhanced Death Benefit Option - Receive the Benefit Base payable in equal periodic payments over 5 years. - Benefit Base receives a Rollup Rate equal to 150% of the Net Interest Rate
Surrender Charges Attained Age: 90-93: 5%, 94: 4%, 95: 3%, 96: 2%, 97: 1%, 98-100: 0%
Available in states:
AL, AZ, AR, CO, GA, HI, IL, IN, IA, KS, KY, LA, MD, MA, MS, MO, MT, NE, NV, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, and WY
Allocation Accounts
Name | Type | Rates |
---|---|---|
5-Year Fixed Account |
Fixed
|
3%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
4.1%
Cap
|
1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
4.2%
Cap
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.75%
Cap
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 |
---|---|---|---|---|---|
Penalty | 10% | 9% | 8% | 7% | 5% |
Riders
Name | Inbuilt | Fee |
---|---|---|
Death Benefit Feature | No | 0.25% rate reduction |
Preferred 10% Free Withdrawal | No | 0.15% rate reduction |
Accumulated Interest Withdrawal | No | 0.05% rate reduction |
Optional Required Minimum Distribution - 0.16% fee | No | 0.16% annually |