Accumulation Protector Plus
The Sentinel Security Life Insurance Company, established in 1948, is a critical player in the insurance and retirement sector. With an emphasis on assisting potential clients achieve financial security, the company offers a great selection of insurance products, including final expense life insurance, Medicare supplemental insurance, and many annuity types. Known for its vow to always provide custom-made financial solutions to retirees in particular, the company continues to improve by embracing the digital age to further streamline operations.
Accumulation Protector Plus
Ratings:
- A.M. Best B++
About Product
Settlement Options
After the fifth Contract Year, the Vested Value can be used to purchase one of the Settlement Options. Surrender Charges and the Market Value Adjustment would not apply.
- Option 1: Life Income Only
- Option 2: Life Income with Guaranteed Period Certain
- Option 3: Period Certain Only
The Participation Rates for the Credit Suisse Momentum Index One-Year point-to-point and Two-year point-to-point crediting strategies are guaranteed for 10 years from the annuity issue date.
Sentinel Security Life Insurance Company launched a new feature for the Accumulation Protector Plus (APP) Annuity that will offer even more flexibility. On the contract anniversary coinciding with the end of a strategy’s crediting period, contract owners will now be able to reallocate the account value from that strategy to any of the APP’s one, two, or three-year crediting strategies. For example, if your client has premium allocated to a 1-year strategy and a 3-year strategy, at the end of the 1-year strategy’s crediting period they can allocate those funds to a new 1, 2, or 3-year strategy while their other 3-year strategy is still at play. With more options, your clients will be able to more easily try out different APP growth strategies to best suit their needs.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.25%
Fixed
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
60%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
43%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year Momentum Index PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
210%
Participation
|
| 2-Year Momentum Index PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
320%
Participation
|
| 3-Year Momentum Index PTP Participation Rate |
Point to Point
Triennial
|
465%
Participation
|
| 1-Year Credit Suisse ESG Macro 5 PTP Participation Rate Guaranteed for Term |
Point to Point
Annual
|
210%
Participation
|
| 2-Year Credit Suisse ESG Macro 5 PTP Participation Rate Guaranteed for Term |
Point to Point
Biennial
|
320%
Participation
|
| 3-Year Credit Suisse ESG Macro 5 PTP Participation Rate |
Point to Point
Triennial
|
465%
Participation
|
| 1-Year Momentum Index Performance Triggered |
Performance Triggered
Annual
|
9%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
No Riders for Accumulation Protector Plus annuity.
Waivers
Nursing Home
Unavailable in states: CA, FL, and PA
If you are diagnosed with a terminal illness or need to move into a nursing home, you can make a full surrender or partial withdrawal with no Market Value Adjustment, Surrender Charge, or loss of any applicable Non-Vested Premium Bonus under certain conditions. The nursing home waiver does not include home health care.
Terminal Illness
Unavailable in states: CA, FL, and PA
If you are diagnosed with a terminal illness or need to move into a nursing home, you can make a full surrender or partial withdrawal with no Market Value Adjustment, Surrender Charge, or loss of any applicable Non-Vested Premium Bonus under certain conditions.
Premium Notes
Withdrawal Provisions
- RMDs are available Penalty-Free after the first Contract Year
- Up to 5% of the Account Value is available Penalty-Free after the first Contract Year
- A maximum of 2 withdrawals are allowed each Contract Year
- Minimum withdrawal amount of $250; Minimum Account Value after withdrawal is $2,500
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