Fixed annuity review and rates

SmartSelect - Two

SmartSelect is a single premium deferred annuity with market value adjustment.

Guaranteed Rate Option (GRO) Stability 
  • Initial fixed interest GRO periods of 3, 4, 5, 6, and 7 years are available.
  • The initial rate is guaranteed for the length of the GRO period. At the end of the initial GRO period, you may choose a new 3, 4, 5, 6 or 7-year GRO at the then-current interest rate or default to a 1-year renewal period. The insurer provides a guaranteed minimum interest rate (GMIR) as defined in your contract. 
  • Minimum Premium - $20,000 
  • Maximum Premium for age 18–75 - $1,000,000 
  • Maximum Premium for age 76–85 - $750,000 
Free Look Period
10 days or state-specific

Withdrawal Charge Waivers
Withdrawal charges and MVA may be waived for the following with prior notification:
  • Limited life expectancy
  • Confinement to a nursing home, hospital, or licensed health care facility
  • Required minimum distributions
  • Guaranteed annuity options (full and partial)
Access for Financial Flexibility (Free Withdrawals)
For financial flexibility, a portion of the account value is available free of withdrawal charge. Beginning immediately, up to 10% of the account value may be withdrawn each contract year (noncumulative; $250 minimum) without incurring a withdrawal charge or a market value adjustment (MVA).

Market Value Adjustment (MVA)
During a guarantee period of more than one year, which is called a Guaranteed Rate Option (GRO), an MVA applies to annuity options and withdrawals in excess of the free withdrawal amount. The MVA reflects the effect of the change in the interest rates we offer between the time the GRO was selected and the time the MVA is applied. Generally, if interest rates increase, the MVA reduces your contract’s value. On the other hand, if interest rates decrease, the MVA increases your contract’s value. The amount of any MVA will never be greater than the MVA Maximum, which is the difference, whether positive or negative, between: 
  • the current Account Value; and 
  • the Account Value applied at the beginning of the current GRO, minus withdrawals taken during the current GRO (including any withdrawal charge, but not considering any MVA), plus interest credited at the GMIR. 
The MVA Maximum applies to both negative and positive MVAs. If the MVA is negative, the MVA Maximum is the maximum negative adjustment; if the MVA is positive, the MVA Maximum is the maximum positive adjustment. MVA does not apply during the last 30 days of the GRO or to the death benefit.

Note: We accept TSP funds as a rollover and issue it as a traditional IRA. 

Interest Rates

Guaranteed Years Surrender Years Guaranteed Yield Current Yield
3 3 4% 4%
3 3 4.15% 4.15%
4 4 3.75% 3.75%
4 4 3.9% 3.9%
5 5 3.85% 3.85%
5 5 4% 4%
6 6 3.5% 3.5%
6 6 3.65% 3.65%
7 7 3.35% 3.35%
7 7 3.5% 3.5%
Western & Southern Life Assurance Company
Founded: 1888
A.M. Best: A+
Fitch: AA
S&P: A+
Moody's: Aa3
Carrier details
Free withdrawal
Types of funds
Non-Qualified, 401k, Profit Sharing, IRA, Pension, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, Inherited IRA, NQ Stretch, and TSP