Retirement Plus Multiplier 10
The Retirement Plus Multiplier 10 is a brilliant pick for those planning their post-retirement years. This annuity stands out with its guaranteed income for a lifetime and potential for higher returns.
With added benefits like death benefit options and ability to withdraw funds annually, this plan beautifully balances growth and security for your golden years. Highly recommended!
Retirement Plus Multiplier 10
Ratings:
- A.M. Best B++
About Product
Sentinel Security Life Insurance Company launched a new feature for the Retirement Plus Multiplier (RPM) 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 RPM'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 RPM growth strategies to best suit their needs.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4%
Fixed
|
| 1-Year Aging of America PTP Participation Rate |
Point to Point
Annual
|
150%
Participation
|
| 3-Year Aging of America PTP Participation Rate |
Point to Point
Triennial
|
250%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 2-Year Aging of America PTP Participation Rate |
Point to Point
Biennial
|
200%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
60%
Participation
|
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
| Name | Inbuilt | Fee |
|---|---|---|
| Income Multiplier GLWB Rider | Yes | 0.95% annually |
Waivers
Nursing Home
Unavailable in states: CA
Must be confined to a nursing home for a period of at least 90 consecutive days. There is a waiting period of one year. If the owner is confined to a nursing home during the waiting period. The nursing home waiver does not include home health care.
Terminal Illness
Unavailable in states: CA
Terminal illness is defined as any medical condition which a physician certifies that the policy owner’s expected life span is twelve months or less. Proof of the terminal illness is required by a certified licensed physician that is not the owner, annuitant, or a family member to the owner or annuitant. The owner cannot be terminally ill during the waiting period. There is a waiting period of one year.
Withdrawal Provisions
- RMDs are available Penalty Free in all years
- Up to 5% of the Accumulation Value is available Penalty-Free after the first contract year
- A maximum of two withdrawals are allowed each Contract Year
- Minimum withdrawal amount of $250; Minimum account value after withdrawal is $2,500
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