Advanced Choice Annuity

The Advanced Choice Annuity is a single premium deferred annuity with a market value adjustment. The minimum initial contribution is $10,000 for non-qualified and qualified money. Surrender schedules vary by interest rate guarantee period chosen and are waived in the event of death, entrance into a nursing home, or diagnosis of a terminal illness.

Free Withdrawal
After the 1st Contract Year, the Owner may withdraw up to 10% of the Account Value each year, free of surrender charges and MVA. Refer to the contract or the product brochure for details.

Death Benefit
100% of Account Value, less any applicable premium tax

Market Value Adjustment
To help us manage changing market conditions and interest rate environments more effectively, Security Benefit applies a Market Value Adjustment (MVA) to withdrawals that exceed the free withdrawal amount during the surrender charge period.
The MVA also will apply if you annuitize during the surrender charge period and may apply under certain circumstances involving death and joint ownership. For a full withdrawal, the MVA Factor applies to the Account Value as of the date of the full withdrawal. For a partial withdrawal, the MVA Factor applies to the decrease in the Account Value to satisfy the partial withdrawal in excess of the free withdrawal.

Note: TSP funds would be accepted as a rollover.