Best Guaranteed Annuity Rates

Oak ADVantage

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Premium Type
Single Premium
Max age Qualified
Minimum Contribution
Maximum Contribution
Market value adjustment
Return of premium
Free withdrawal
Launch date
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, and 1035 Exchange
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The Oak ADVantage is a single premium, multi-year guarantee annuity. This annuity provides an accumulation value that earns interest through a fixed account with a guaranteed interest rate that is set for a 3-, 5-, or 7-year period. This annuity also provides several options for accessing funds.
You may cancel this annuity within 30 days of your receipt to receive a refund of your premium, less any withdrawals you have taken.

Tax deferral benefits
Funds grow on a tax-deferred basis, meaning no taxes are owed until you access them. This allows more time for growth potential. Work with your tax advisor to find out how this might work for you.

Issue ages
Available for issue ages up to 90.

Minimum premium amount

Minimum premium is $50,000 for qualified and non-qualified. Additional premium is not accepted.

Renewal and payout options
At the end of your guarantee period, you have 30 days to choose your next steps: 
  1. you can surrender your policy, free from penalties, 
  2. you can elect an available payout option, or 
  3. you can re-enter into a new 3-, 5-, or 7- year guarantee period.* 
Without action, your policy will be re-entered into the same guarantee period.*
* Cannot renew into a guarantee period that extends beyond the maturity date. For full details on re-entry and maturity dates, see the product disclosure

Surrender charges
There is a 3-, 5- or 7-year surrender charge period. During this period, a charge is assessed on any amount withdrawn that exceeds the available penalty-free amount. Surrender charges are a level 3.0% in each contract year.

Penalty-free withdrawals
Beginning in year two, an amount up to the prior year’s interest credited may be withdrawn without penalty. By current company practice, you may take a penalty-free withdrawal in the first contract year equal to interest earned in the first year. You may elect to receive interest withdrawal payments on a monthly, quarterly, semi-annual or annual basis, called a systematic withdrawal, these scheduled payments are penaltyfree but must be at least $50 each. IRS-required minimum distributions (RMDs) are not subject to surrender charges or market value adjustments. Withdrawals may be treated by the government as ordinary income. If taken prior to age 59 1/2, a withdrawal could also be subject to a 10% IRS penalty. Withdrawals will reduce your accumulation value accordingly.

Advisory fees
You can authorize your financial advisor to take up to 1.0% of the accumulation value each year to pay advisory fees; these withdrawals will reduce the penalty-free withdrawal amount. Advisory fees on non-qualified multi-year guarantee contracts will be treated as normal distributions and taxed accordingly. Advisory fees on qualified contracts are not subject to taxes. Fees are treated as standard partial surrenders subject to surrender charges and market value adjustments to the extent they exceed any penalty-free partial surrender allowance available.

Annuitization options
You can choose to receive annuity payments based on your choice of several annuity options. Once you elect an annuitization option, it cannot be changed, and all other rights and benefits under the annuity end. The payment amount and number of payments will be based on your annuity’s surrender value* and the annuitization option you choose. See the product disclosure for annuity options available.
* In FL, the payments are based on the accumulation value and the annuitization options may be limited.

Death Benefit
The death benefit is payable when any individual owner dies or when all annuitants have died, whichever is earlier. If the owner dies and his or her spouse is the sole beneficiary, the spouse may elect to continue the Contract as its owner. The death benefit equals the accumulation value. The death benefit will never be lower than the Contract’s minimum surrender value. A death benefit is not available if you have already elected an annuity payout option. 

Find out if the Oak ADVantage is the right product for you.


MYGA Interest Rates

Annual percentage yield (APY)
earned over the investment term
3 years 5.55%
5 years 5.5%
7 years 5.4%


No Riders for Oak ADVantage annuity.


Nursing Home

Unavailable in states: SD

After your first contract year, if you become confined to a qualified nursing care center, as defined in the rider, you may withdraw up to 100% of your accumulation value without a surrender charge or MVA as long as you meet the eligibility requirements of this rider. If you withdraw 100% of your accumulation value, your contract will terminate. This waiver is automatically included with your annuity at no additional charge.

Surrender Window

At the end of any guarantee period, your Contract provides choices. You will have a 30-day window to elect: 1) a new guarantee period that does not exceed the maturity date, which is the date in your Contract when you must elect and begin annuity payments; 2) a payout option; 3) to withdraw your accumulation value.

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