Certainty Select
The Certainty Select annuity by EquiTrust offers a perfect blend of flexibility and security. Designed with thoughtful retirement planning in mind, it features multi-year rate guarantees, providing steadfastness in this unpredictable financial world. The annuity allows us to pick and customize our guarantee periods, payout options, aptly targeting our individual needs at different life stages.
What’s interesting is the freedom to withdraw cumulative interest at any time without charges, easing financial constraints. If life takes a turn and we're confined to a hospital or diagnosed with a terminal illness, we can be sure that withdrawal charges stand waived. Tax-deferred accumulation accelerates growth, adding to the product’s appeal. Overall, the Certainty Select annuity promises a bright financial future with less stress and more peace of mind.
Certainty Select
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.75% |
| 5 years | 5% |
| 6 years | 5.05% |
| 8 years | 5.1% |
| 10 years | 5.15% |
Certainty Select offers you a choice of guarantee periods — 3, 5, 6, 8 and 10 years. Your interest rate is locked in for the duration of the guarantee period you select.
Free Withdrawals
Free withdrawals of cumulative interest at any time
Market Value Adjustment
The Market Value Adjustment (MVA) is applied to both early surrenders and withdrawals that exceed the free-withdrawal amount. An MVA can either increase or decrease the amount you’ll receive from a surrender or excess withdrawal based on the change in interest rates after the issue date of the contract. This feature allows EquiTrust to credit a higher rate of interest to your annuity.
Death Benefit
If you die before the guarantee period ends, your beneficiary(ies) may elect to receive the Accumulation Value immediately, avoiding probate.
30-Day Window
Before the end of your guarantee period, you’ll have a 30-day window to decide what to do with your Accumulation Value. You may take no action and keep your contract for another guarantee period or choose one of these three options:
- Receive scheduled payments for a specified period that is at least 10 years, or life
- Make a partial withdrawal
- Collect the full amount plus accumulated interest
This product does not have return of premium.
Notes:
If the IRA owner dies on or after 1/1/20, the new SECURE Act rules apply.
Applicable beneficiaries now fall under two categories: Eligible and Ineligible Designated Beneficiaries.
Stretch IRA is available only to Eligible Designated Beneficiaries.
Inherited IRA is available to Ineligible Designated Beneficiaries – withdrawal or taxation of funds by 12/31 of the 10th year following the IRA owner’s death now applies to Ineligible Designated Beneficiaries.
TSP funds have to be transferred or rolled over into an IRA.
Riders
No Riders for Certainty Select annuity.
Waivers
Death
Upon death of first Owner, accumulation value. Surrender charges and MVA are waived.
Nursing Home
Unavailable in states: MA
Through the Nursing Home Waiver Rider, after the first year, if you’re confined to a qualified hospital or nursing care center for 90 days or more, surrender charges will be waived during the confinement. This no-cost rider is available at issue through age 80. The nursing home waiver does not include home health care.
Terminal Illness
Unavailable in states: PA
With the no-cost Terminal Illness Rider, if you’re diagnosed with a terminal illness, surrender charges will be waived for a withdrawal of up to 75% of your Accumulation Value.
Surrender Window
30 days prior to the end of each guarantee period waives surrender charges and MVA.
- A.M. Best B++
- Fitch A-
- S&P A-
- Comdex 51
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