Fixed index annuity review and rates

Foundations Annuity 7

As a fixed index annuity, Foundations helps grow retirement savings without investing in the stock market. You can receive interest credits based on a portion of the increase of a financial market index, but are guaranteed to never lose money due to market loss. 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, 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
1-Year Fixed Account
Fixed
3.6% Fixed
1-Year S&P 500 Factor Rotator Daily RC2 7% PTP Participation Rate
Point to Point
Annual
75% Participation
2-Year S&P 500 Factor Rotator Daily RC2 7% PTP Participation Rate
Point to Point
Biennial
100% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
9.25% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
8% Cap
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
1.5% Spread
2-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Biennial
0.75% Spread

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 8% 7% 6% 5% 4% 3%
Security Benefit Life Insurance Company
Founded: 1892
A.M. Best: A-
Fitch: A-
S&P: A-
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Premium bonus
1%
Surrender schedule
7 years
Return of premium
Market value adjustment
Minimum contribution
$25,000
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP