Fixed index annuity review and rates

Vega 14

Vega is one of the brightest stars and is a reliable point in an ever-changing night sky. The SILAC Vega Series is a comprehensive fixed index annuity focused on the accumulation of retirement benefits. The benefit value that automatically comes with all Vega FIAs offers multiple income options, growth, and an enhanced legacy benefit to navigate retirement.
Available in states: AL, AZ, AR, CO, CT, DC, FL, GA, IL, IN, IA, KS, KY, LA, ME, MI, MS, NE, NH, NM, NC, ND, OK, RI, SD, TN, VT, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Nasdaq Generations 5 Boost Spread
Boost
Annual
1-Year Fixed Account
Fixed
2% Fixed
1-Year Nasdaq Generations 5 PTP Participation Rate
Point to Point
Annual
100% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
4.5% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
22% Participation
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 Participation Rate
Point to Point
Annual
Monthly average
42% Participation
1-Year Barclays Atlas 5 PTP Participation Rate
Point to Point
Annual
95% Participation
1-Year Barclays Atlas 5 PTP Spread
Point to Point
Annual
0.25% Spread
1-Year Credit Suisse RavenPack PTP Participation Rate
Point to Point
Annual
100% Participation
1-Year Credit Suisse RavenPack PTP Spread
Point to Point
Annual

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Penalty 15% 14% 13% 12% 11% 10% 9% 8% 7% 6% 5% 4% 3% 2%

Riders

Name Inbuilt Fee
Vega 14 with Level Lifetime Withdrawal Benefit Yes None
Vega 14 with Increasing Lifetime Withdrawal Benefit Yes None
SILAC Insurance Company
Founded: 1935
A.M. Best: B+
S&P: B+
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 5%
Surrender schedule
14 years
Return of premium
Market value adjustment
Minimum contribution
$10,000
Types of funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, Stretch IRA, Inherited IRA, and TSP