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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.30%
7-Year
6.00%
10-Year
5.80%

Sage Choice

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Highlights

Premium Type
Single Premium
Max age Qualified
90
Minimum Contribution
$2,000
Maximum Contribution
$1,000,000
Market value adjustment
Return of premium
Free withdrawal
1st year: 0%
2nd+ year: 10%
Launch date
02/22/2011
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, and 1035 Exchange
Brochure
Open brochure
The Sage Choice is a single premium deferred annuity with a market value adjustment. The minimum initial contribution is $2,000 for qualified and non-qualified money.

Guaranteed minimum interest rate is 3.0% for years 11+.

Surrender charges are six years in duration (7,7,7,6,5,3) and are waived in the event of bailout, death, entrance into a nursing home / confined care facility, or diagnosis of a terminal illness.

Withdrawals
Monthly Interest Option (MIO) available for contracts with an account value of $25,000 or greater. If MIO form is submitted with application, payments may begin 1 month after 30 day free look period. If submitted after contract issue, payments begin on next anniversary.

Penalty-Free WIthdrawals
Beginning in year 1, you may withdraw up to 10% of the last contract anniversary accumulation, surrender charge free (The minimum withdrawal is $500). However, withdrawals may be subject to regular income tax and, if made prior to age 59 1/2 may be subject to a 10% IRS penalty. Sagicor does not render legal or tax advice. If legal or tax advice is required, the services of a qualified competent professional should be sought.

Bail-out
After the first contract year, the Owner may exercise the "Bailout Feature" of the penalty free withdrawal provision.  The Owner may request, within 30 days of notification, to receive the accumulation value without incurring a surrender charge or MVA. The “Bailout Feature” is only available the first time that a declared fixed interest rate is more than 1% below the contract’s initial fixed interest rate.

Monthly Interest Option (MIO) available for contracts with an account value of $25,000 or greater. If MIO form is submitted with application, payments may begin 1 month after 30 day free look period. If submitted after contract issue, payments begin on next anniversary.

Death Benefit is equal to contract value. Surrender Charges and Market Value Adjustment (MVA) waived upon death of the owner. 

Find out if the Sage Choice is the right product for you.

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Traditional Fixed Annuity Interest Rates

Surrender Years First Year Yield Term Guaranteed Yield Term Current Yield
6 2% 2% 2%

Riders

No Riders for Sage Choice annuity.

Waivers

Bail-Out

To exercise the “Bailout Feature” of the penalty free withdrawal provision, the contract owner must notify Sagicor, in writing, within 30 days of receiving notice of the interest rate change. The “Bailout Feature” is only available the first time that a declared fixed interest rate is more than 1% below the contract’s initial fixed interest rate. Thereafter, the “Bailout Feature” is no longer available to the contract owner.

Hospital

Confined Care Waiver: 90 day elimination period. Not available in CA or MA.

Nursing Home

Unavailable in states: CA, and MA

90 day elimination period. Home Health Care acceptable.

Terminal Illness

Terminal Illness Waiver: 6 month life expectancy. Not available in CA.

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