Fixed annuity review and rates

Secure Legacy

The Upstream Life Secure Legacy MYGA is an industry-leading single premium fixed annuity, offering a multi-year guaranteed interest period. This annuity accrues compound interest in a tax-deferred manner and offers income and death friendly features and riders. (Required Death Benefit Rider 81+ | Costs 25 basis points)

10% Free Withdrawal Rider
  • Beginning second contract year
  • Up to 10% of the contract value
  • Costs 15-basis point reduction in crediting interest rate
  • Minimum withdrawal $100
  • Lump-sum or equal monthly or quarterly payments
Surrender Charge
For issue ages, 55+, the 15-year and 20-Year Guarantee Period will have surrender charges reduced to 0% in years 11+.
During all Renewal Guarantee Periods, the Surrender Charge is 5% during the Renewal Guarantee Period.

Accumulated Interest
  • After 30 days 
  • Accumulated interest 
  • Minimum withdrawal $100 
  • Lump-sum or equal monthly or quarterly payments
Required Minimum Distribution
  • After 30 days 
  • Minimum withdrawal $100 
  • Current year's RMD should be taken prior to transfer/rollover 
Market Value Adjustment
Selling an investment security before its due date can result in an unanticipated gain or loss in value. That gain or loss affects the value of the annuity. Accordingly, the market value adjustment (MVA) is a factor by which the contract value and/or partial withdrawal amounts are adjusted during any surrender charge period to reflect such gain or loss. The MVA is based on the constant maturity treasury (CMT) rate appropriate for the guarantee period. 

Renewals
During the last thirty (30) days before the end of any Interest Guarantee Period, the Owner may choose one of the following options, to take effect on Your next Contract Anniversary: 

Renewal Guarantee Period equivalent to the Initial Guarantee Period as shown in Contract Specifications: 
  • Continue Your Contract for a Renewal Guarantee Period equivalent to the Initial Guarantee Period as shown in Contract Specifications, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period; or 
  • Make a Partial Withdrawal, with no Surrender Charge or Market Value Adjustment, and apply the remaining Contract Value to continue Your Contract for a Renewal Guarantee Period equivalent to the Initial Guarantee Period as shown in Contract Specifications, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period 
Renewal Guarantee Period
  • Continue Your Contract for a Renewal Guarantee Period, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period; or make a Partial Withdrawal, with no Surrender Charge or Market Value Adjustment, and apply the remaining Contract Value to continue Your Contract for a Renewal Guarantee Period of Years, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period. 
Make a Full Surrender of the Contract with no Surrender Charge or Market Value Adjustment. 

We will mail notice at least 15 days but not more than 45 days prior to the beginning of the application period where the owner has the ability to apply for the contract value on an unadjusted basis (no MVA). 

Unless You select one of the options shown above, Your Contract will continue automatically for another Renewal Guarantee Period of 5 Years at a new Renewal Guaranteed Interest Rate. The new Interest Guarantee Period will not extend beyond the Maturity Date. If Your Contract is continued for another Renewal Guarantee Period, the Surrender Charges and Surrender Charge Period is shown in Contract Specifications apply to the new Renewal Guarantee Period.

Interest Rates

Guaranteed Years Surrender Years Guaranteed Yield Current Yield
3 3 4.25% 4.25%
5 5 4% 4%
7 7 4% 4%
10 10 4% 4%
15 15 4% 4%
3 3 4.15% 4.15%
5 5 3.9% 3.9%
7 7 3.9% 3.9%
10 10 3.9% 3.9%
15 15 3.9% 3.9%

Riders

Name Inbuilt Fee
10% Free Withdrawal Rider will reduce the rate by 15 basis points No 0.15% rate reduction
Death Benefit Rider will reduce the rate by 25 basis points (required ages 81+) No 0.25% rate reduction
Upstream Life
Founded: 1912
A.M. Best: C++
S&P: C++
Carrier details
Free withdrawal
0%
Types of funds
Non-Qualified, IRA, IRA Rollover, SEP IRA, IRA-Roth, SIMPLE IRA, 1035 Exchange, and Inherited IRA