Growth Driver 7

Life Insurance Company of the Southwest
Growth Driver 7-brochure Growth Driver 7-brochure

Growth Driver 7

Your Email

Ratings:

  • A.M. Best A+
  • S&P A+
  • Moody's A1
  • Comdex 90

About Product

Type
Fixed Index
Purpose
Accumulation
Premium Bonus
7%
Term
7 Years
Surrender schedule
8.25%8%7%6%5%4%3%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$25,000
Maximum Contribution
$2,000,000
Max Age Qualified
75
Types Of Funds
Non-Qualified, IRA, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, and 457 plan
Launch Date
07/06/2023
Growth Driver 7 is a single premium, fixed indexed annuity that can give you a head start on saving for retirement – while protecting your principal from market loss. Best if used for boosting your retirement savings and accumulating value 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
3.1% Fixed
2-Year US Fundamental Balanced PTP Participation Rate with Booster
Point to Point
Biennial
260% Participation
2-Year US Fundamental Balanced PTP Participation Rate
Point to Point
Biennial
190% Participation
1-Year US Fundamental Balanced PTP Participation Rate with Booster
Point to Point
Annual
185% Participation
1-Year US Fundamental Balanced PTP Participation Rate
Point to Point
Annual
140% Participation
2-Year Global Balanced PTP Participation Rate with Booster
Point to Point
Biennial
260% Participation
2-Year Global Balanced PTP Participation Rate
Point to Point
Biennial
190% Participation
1-Year Global Balanced PTP Participation Rate with Booster
Point to Point
Annual
185% Participation
1-Year Global Balanced PTP Participation Rate
Point to Point
Annual
140% Participation
1-Year S&P 500 PTP Monthly Sum Cap with Booster
Point to Point
Annual
Monthly sum
2.4% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.85% Cap
2-Year S&P 500 PTP Cap with Booster
Point to Point
Biennial
27% Cap
2-Year S&P 500 PTP Cap
Point to Point
Biennial
18% Cap
1-Year S&P 500 PTP Cap with Booster
Point to Point
Annual
10.5% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
8% Cap

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 8% 8% 7% 6% 5% 4% 3%

Riders

No Riders for Growth Driver 7 annuity.

Waivers

Nursing Home

Unavailable in states: CA, IL, LA, MA, MT, NH, NJ, SC, SD, WA, WV, and WI

The Nursing Care Rider gives clients peace of mind that they will have access to a portion of savings without surrender charges in the case of a qualifying event.

Terminal Illness

Unavailable in states: CA, IL, LA, MA, MO, MT, NH, NJ, OR, PA, SC, UT, WV, and WI

Terminal Illness Benefit eliminates withdrawal charges for the annuitant on one withdrawal if the policy has been in force longer than one year at the onset of the terminal illness, from which the client is physician-certified to have 12 months or fewer to live.

Emergency Access

Emergency Access Waiver allows clients to have all withdrawal charges waived for 403(b) hardship or 457(b) unforeseen emergency distributions, if approved by the Plan/TPA. For separation from service or disability, 20% of withdrawal charges (for withdrawals above 10% of the accumulation value) are waived in years 2-4; starting in year 5, all withdrawal charges are waived. Available for 403(b) and 457(b) plans only.

Premium Notes

Issue Ages
0-75

Minimum Premium
$25,000 within 90 days of policy issue.

Maximum Premiums
  • Ages 0–70: $2,000,000 
  • Ages 71–75: $1,500,000 

Withdrawal Provisions

Market Value Adjustment
A Market Value Adjustment will apply to withdrawals in excess of the penalty-free withdrawal amount for the first 7 policy years.

Free Withdrawals
10% of accumulation value available after the first policy year as permitted by law. 

You might also be interested in

James Alden Experienced Financial Advisor
25 years experience
3,712 career consultations
4 slots free for today
scheduling.
Your Name
Your Phone
Thank you for your trust! I have received your contact information. Please wait for a call within 30 minutes. 😌