GuaranteeShield Series
GuaranteeShield Series offers a reliable and straightforward fixed annuity plan designed to help you navigate financial security smoothly. The key benefits include principal protection, a guaranteed interest rate, and tax-deferral advantages. The fear of market volatility is replaced with confidence as GuaranteeShield provides principal protection and shields your earned interest while ensuring consistent accumulation of assets.
The product offers access to your money in the annuity and provides flexibility with withdrawal and various liquidity options. With GuaranteeShield series, the option to renew the contract, take a free withdrawal or surrender the contract without surrender charges are provided. The annuity aims to keep your well-being in mind by offering benefits such as Free Withdrawals, a Terminal Illness Benefit, and a Death Benefit. In essence, this product has been designed with the customer's financial stability as a priority, making it a reliable choice for your retirement planning.
GuaranteeShield Series
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 3.5% |
| 5 years | 3.6% |
Premium
Minimum Premium:
- $10,000
- 18-69: $1,500,000
- 70-74: $1,000,000
- 75-79: $750,000
- 80-85: $500,000
This is an opportunity each year (after the first contract year) to take Free Withdrawals up to 10% of the Contact Value. (RMD Friendly)
Partial Withdrawal
Available at any time, for partial distribution over the Free Withdrawal amount. Surrender Charges and minimum values will apply.
Market Value Adjustment (MVA)
This product includes a Market Value Adjustment (MVA) Rider. An MVA may increase or decrease the amount of a withdrawal in excess of the Free Withdrawal amount or the Surrender Value. The MVA does not apply to Free Withdrawals, any death benefit, the MGSV, or any distributions occurring after the Surrender Charge Period has ended. In general, as the MVA Index increases, Surrender Values decrease. As the MVA Index decreases, Surrender Values increase.
Minimum Guaranteed Surrender Value (MGSV)
At no time will the Surrender Value of the contract be less than 90% of the premium received, less any withdrawals, accumulated at the minimum guaranteed surrender value - minimum guaranteed interest rate.
Death Benefit
The greater of the Contract Value or the Minimum Guaranteed Surrender Value. Death Benefit proceeds are paid to the surviving joint owner. If there is no surviving joint owner, the death benefit is paid to the named beneficiary(ies) with no surrender charges. Generally paid in a lump-sum, other payment options are also available.
Principal Protection no return of premium feature. No surrender charges if owner passes away.
Note: TSP funds have to be rolled into an IRA.
Riders
No Riders for GuaranteeShield Series annuity.
Waivers
Death
No Surrender Charges at death
Surrender Window
Within 30 calendar days after the end of the guarantee period you can surrender the contract without surrender charges or market value adjustment.
Enhanced Benefit
Unavailable in states: CA
This rider provides both a qualified nursing care benefit and terminal illness benefit. After the first contract year, a one-time free withdrawal of up to 100% of the contract value is allowed if 1) the owner is confined to a qualified nursing care facility for a minimum of 90 days and confinement begins after the contract issue date; OR 2) the owner is diagnosed with a terminal illness after the contract is issued. Written proof is required. Included automatically for all ages for GuaranteeShield Series.
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