Select 3
With Select 3 annuity, peace of mind comes standard. It is easy to understand and effectively ensures you enjoy a consistent income for life. It's perfect for planning those golden retirement years with confidence.
The big win here is certainty - the guarantee that you will never outlive your money. Select 3 also offers flexibility, allowing you to adjust your plan as needed. Enjoy life knowing Select 3's got your back!
About Product
Rate Guarantees
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.95%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.85%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
6.85%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 |
|---|---|---|---|
| Penalty | 10% | 9% | 8% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Select Series Guaranteed Lifetime Withdrawal Benefit | No | 0.95% annually |
Waivers
Nursing Home
If you are first diagnosed as chronically ill more than one year after the policy date, are confined to a nursing home, and have been for the previous 90 days, you may request surrender/withdrawals from this policy without reduction for any surrender/withdrawal charge.
Terminal Illness
If you are first diagnosed as terminally ill more than one year after the policy date, you may surrender/withdraw this policy for its Account Value without reduction for any surrender/withdrawal charge.
ADL
If you are first diagnosed as chronically ill more than one year after the policy date, are receiving home health care, and have been for the previous 90 days, you may request surrender/withdrawals from this policy without reduction for any surrender/withdrawal charge.
Premium Notes
Maximum Premium Ages 18-75 - $1,000,000
Maximum Premium Ages 76-80 - $750,000
Note: We take Inherited/Beneficiary IRAs as a transfer.
Withdrawal Provisions
Death BenefitOxford Life Insurance Company will pay out, as the Death Benefit, the Accumulation Value to your beneficiary upon the death of the Owner. Your beneficiary may choose to receive the payments in either a lump sum or a series of income payments. Payout Options (Annuitization)*Period Certain Payments: Equal payments for a fixed period of up to 30 years.Lifetime income: Equal payments will be made for your lifetime.Lifetime income with guaranteed period certain: Equal payments will be made for the longer of your remaining lifetime or the period agreed upon (5, 10, 15, 20 years or more). *In most states maturity occurs at age 95, but an early annuitization option is available after the first policy year. Free Withdrawals Any withdrawal during the first Policy Year will be subject to a Surrender Charge and a Market Value Adjustment. Beginning in the second Policy Year, the penalty-free amount is 10% of the Accumulation Value as of the end of the prior Policy Year. The penalty-free amount for surrender is 10% of the Accumulation Value at the time of surrender less any penalty-free withdrawals since the last Policy Anniversary.
- A.M. Best A
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