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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

Foundations Annuity 7

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Highlights

As a fixed index annuity, Foundations helps grow retirement savings without investing in the stock market. You can receive interest credits based on a portion of the increase of a financial market index, but are guaranteed to never lose money due to market loss. 
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
Type
Fixed Index
Purpose Accumulation
Premium Bonus
1%
Term
7 Years
Surrender schedule
9%8%7%6%5%4%3%
Free withdrawal
1st year: 0%
2nd+ year: 10%
Flexible premium Product Life
Market value adjustment
Return of premium
Minimum contribution
$25,000
Maximum contribution
$1,000,000
Max Age Qualified
80
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP
Brochure
Open brochure

Find out if the Foundations Annuity 7 is the right product for you.

Premium Notes

Purchase Amount
Minimum: $25,000 | Subsequent Minimum: $1,000
Maximum: Amounts more than $1,000,000 require prior approval from Security Benefit Life Insurance Company (SBL).
Additional premiums accepted as both, Lump Sum or Periodic payments.

Note: TSP funds would be accepted as a rollover.

Withdrawal Provisions

Market Value Adjustment (MVA)
An MVA applies if, during the surrender charge period, the Owner surrenders the contract, takes withdrawals in excess of the free withdrawal amounts, annuitizes the contract or upon the death of a Joint Owner who is not the spouse of the annuitant.

10% Free Withdrawals
After the 1st Contract Anniversary and during the surrender charge period, the Owner may take free withdrawals. Free withdrawals are not subject to a surrender charge and Market Value Adjustment (MVA). The total amount that may be withdrawn in the Contract Year as free withdrawals is equal to 10% of the Account Value as of the beginning of the Contract Year. Free withdrawals do not apply to full surrender or annuitization. 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
5% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
11.25% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
3.5% Cap
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
10% Cap
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
1.5% Spread
2-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Biennial
0.5% Spread
1-Year S&P 500 Factor Rotator Daily RC2 7% PTP Participation Rate with Spread
Point to Point
Annual
140% Participation
2-Year S&P 500 Factor Rotator Daily RC2 7% PTP Participation Rate with Spread
Point to Point
Biennial
200% Participation
2-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread
Point to Point
Biennial
220% Participation
1-Year Morningstar Wide Moat Focus Barclays VC 7% ER PTP Participation Rate with Spread
Point to Point
Annual
165% Participation
2-Year S&P MARC 5% ER PTP Participation Rate with Spread
Point to Point
Biennial
275% Participation
1-Year S&P MARC 5% ER PTP Participation Rate with Spread
Point to Point
Annual
210% Participation

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 8% 7% 6% 5% 4% 3%

Riders

No Riders for Foundations Annuity 7 annuity.

Waivers

Nursing Home

Unavailable in states: CA, and MA

We will waive the surrender charge and MVA on full or partial withdrawals after the 3rd Contract Year provided the Owner satisfies eligibility conditions for the waiver.

Terminal Illness

Unavailable in states: CA, and NJ

We will waive the surrender charge and MVA on full or partial withdrawals after the 3rd Contract Year provided Owner satisfies eligibility conditions for the waiver.

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