SPDA Guaranteed Interest Rate
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Learn how an annuity can provide guaranteed income for life.
Highlights
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Premium Type
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Single Premium
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|---|---|
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Max age Qualified
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90
|
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Minimum Contribution
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$2,000
|
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Maximum Contribution
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$500,000
|
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Market value adjustment
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|
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Return of premium
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|
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Free withdrawal
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10% |
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Launch date
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09/01/2017 |
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Types of funds
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Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and Inherited IRA |
Brochure
|
Open brochure |
This is a Single Premium Deferred Annuity contract, which is a long-term contract. Additional premiums may not be added in the future. You choose the guaranteed rate period that is best for you. This period begins on the date of issue and ends on the last day of the chosen period.
Death Benefits
Death Benefits are equal to the account value upon death of the owner.
If the owner's spouse is the sole beneficiary, the spouse may continue the policy in his or her own name.
No Sales Charges or Fees
There are no annual maintenance fees and no front-end sales loads.
Market Value Adjustment
When you make a withdrawal, we also may increase or decrease the amount you receive based on a market value adjustment (MVA). If interest rates went up after you bought your annuity, the MVA likely will decrease the amount you receive. If interest rates went down, the MVA will likely increase the amount you receive.
Exceptions to Surrender Charges & MVA
Death Benefits
Death Benefits are equal to the account value upon death of the owner.
If the owner's spouse is the sole beneficiary, the spouse may continue the policy in his or her own name.
No Sales Charges or Fees
There are no annual maintenance fees and no front-end sales loads.
Market Value Adjustment
When you make a withdrawal, we also may increase or decrease the amount you receive based on a market value adjustment (MVA). If interest rates went up after you bought your annuity, the MVA likely will decrease the amount you receive. If interest rates went down, the MVA will likely increase the amount you receive.
Exceptions to Surrender Charges & MVA
- You may withdraw 100% of your accumulated interest and RMD free of all charges at any time.
- You may withdraw 10% of the account value each year (including any accumulated interest amount) free of surrender charges. MVA calculation will apply. This exception may not apply if you selected the Free Withdrawal Waiver rider.
Find out if the SPDA Guaranteed Interest Rate is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.6% |
| 5 years | 5.25% |
| 7 years | 5.35% |
| 10 years | 5.35% |
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 5.75% | 2.75% | 5.75% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| SPDA Free Withdrawal Waiver Rider | No | |
| SPDA Withdrawal Charges Waiver Rider | No |
Waivers
Death
In the event of owner death, withdrawal charges and MVA are waived and benefits equal the account balance
Annuitization
You may elect to annuitize at any time after the first year from a number of options. Surrender charges and MVA are waived with a payout period of 5 years or longer
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