Safe Anchor
The 'Safe Anchor' annuity is a true friend for retirement planning. Designed to guarantee income for life, you can look forward to golden years filled with peace and security.
The perks are abundant - think tax deferral, potential for growth, and the joy of no market risk. Feel confident and prepared with Safe Anchor.
Safe Anchor
About Product
30 Day Option
30 days prior to the end of any guarantee period, the following options are available:
- Continue the contract for another guarantee period
- Apply the Accumulation Value to a Settlement Option
- Take a withdrawal, with no MVA or Surrender Charges, and apply the remaining value to another guarantee period
- Surrender the contract without MVA or Surrender Charges Settlement Options Option 1 – Life Income Only Option 2 – Life Income with Guaranteed Period Certain Option 3 – Period Certain Only Death Benefit The amount payable if the Owner, or the Annuitant if the Owner is not a Natural Person, dies before annuity payments being are equal to the Cash Surrender Value. The following options are available to each beneficiary:
- Lump Sum
- Distributed within five years
- Installment payments using a Settlement Option (Surrender Charges and MVA are waived)
- Enhanced Death Benefit Option - Receive the Benefit Base payable in equal periodic payments over 5 years. - Benefit Base receives a Rollup Rate equal to 150% of the Net Interest Rate
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 5-Year Fixed Account |
Fixed
|
3%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
4.1%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
4.2%
Cap
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.75%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 5% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Death Benefit Feature | No | 0.25% rate reduction |
| Preferred 10% Free Withdrawal | No | 0.15% rate reduction |
| Accumulated Interest Withdrawal | No | 0.05% rate reduction |
| Optional Required Minimum Distribution - 0.16% fee | No | 0.16% annually |
Waivers
Death
Basic Death Benefit Feature
Withdrawal Provisions
Preferred 10% Free Withdrawal Optional Rider Waives the Surrender Charges and Market Value Adjustment (MVA) for the first withdrawal per year after the first contract year. The annuitant may withdraw up to 10% of the account value or the required minimum distribution, whichever is greater. Surrender charges and MVA may apply if the withdrawal exceeds the 10% or the RMD, whichever is greater, or if there are multiple withdrawals during the contract year. Accumulated Interest Withdrawal Waives the surrender charge and Market Value Adjustment (MVA) associated with accumulated interest withdrawals. Required Minimum Distribution Optional Rider Waives the Surrender Charge and Market Value Adjustment (MVA) on any Required Minimum Distribution (RMD) Accumulated Interest Withdrawal Optional Rider Waives the surrender charge and Market Value Adjustment (MVA) associated with accumulated interest withdrawals.
- A.M. Best B++
