Fixed index annuity review and rates

Heritage Growth Advantage+

Heritage Growth Advantage+ (HGA+) is a single-premium deferred fixed-indexed annuity (FIA) that provides growth potential with protection from market downturns. An FIA is purchased as part of your retirement strategy, but also offers the flexibility to access your funds. 
Heritage Growth Advantage+ includes the added benefit of fully guaranteed Participation Rates on every indexed account. During the Surrender Charge Period, the Participation Rate will never be less than the initial guaranteed rate. 
The Heritage Growth Advantage+ also includes a Premium Bonus that immediately increases your Account Value. The Premium Bonus is added at issue and is available for allocation in your crediting strategy. 
Available in states: AL, AK, AZ, AR, CA, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
10-Year Fixed Account (Most States)
Fixed
3.5% Fixed
1-Year Fixed Account (CA Only)
Fixed
3.5% Fixed
1-Year Morgan Stanley Dynamic US Equities PTP Participation Rate
Point to Point
Annual
85% Participation
2-Year Morgan Stanley Dynamic US Equities PTP Participation Rate
Point to Point
Biennial
135% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
115% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
155% Participation
1-Year SG Entelligent Agile 6% VT PTP Participation Rate
Point to Point
Annual
105% Participation
2-Year SG Entelligent Agile 6% VT PTP Participation Rate
Point to Point
Biennial
145% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 9% 9% 8% 7% 6% 5% 4% 3% 2% 1%
Investors Heritage Life Insurance Company
Founded: 1960
A.M. Best: B++
Fitch: BBB-
S&P: B++
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Premium bonus
10%
Surrender schedule
10 years
Return of premium
Market value adjustment
Minimum contribution
$25,000
Types of funds
Non-Qualified, IRA, IRA Rollover, SEP IRA, IRA-Roth, and Inherited IRA