Fixed index annuity review and rates

Summit Bonus Index with Income Rider

Sentinel Plan Summit Bonus Index is a 10 year, single premium, deferred annuity with four different indexing strategies, in addition to a fixed account. An Income Rider is also available with a rollup that will continue to compound for up to 20 years.
Available in states: AL, AZ, AR, CA, CO, FL, GA, HI, IL, IN, IA, KS, KY, LA, MD, MN, MS, MT, NE, NV, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TX, UT, WA, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
1.5% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
2.5% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
2.5% Cap
1-Year S&P 500 PTP Daily Average Cap
Point to Point
Annual
Daily average
2.5% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.1% Cap

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 12% 11% 10% 9% 8% 7% 6% 5% 4% 2%

Riders

Name Inbuilt Fee
Sentinel Summit Bonus GLWB (rollup ages 45-49) Yes 1.05% annually (1.50% max)
Sentinel Summit Bonus GLWB (rollup ages 50-59) Yes 1.05% annually (1.50% max)
Sentinel Summit Bonus GLWB (rollup ages 60-69) Yes 1.05% annually (1.50% max)
Sentinel Summit Bonus GLWB (rollup ages 70+) Yes 1.05% annually (1.50% max)
Sentinel Security Life Insurance Company
Founded: 1948
A.M. Best: B++
S&P: B++
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Premium bonus
8%
Surrender schedule
10 years
Return of premium
Market value adjustment
Minimum contribution
Qualified: $5,000
Non-Qualified: 1000000%
Types of funds
Non-Qualified, 401k, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, 1035 Exchange, Stretch IRA, Inherited IRA, and TSP