Retirement Plus Multiplier 5 with Income Multiplier GLWB
The Retirement Plus Multiplier 5 is a gem for securing a worry-free retirement. This annuity product provides steady income, ensuring your golden years are spent stress-free, not penny-pinching.
Plus, with the Income Multiplier GLWB, you benefit from guaranteed lifetime withdrawal benefits. It's truly an investment that puts your long-term well-being front and center. A great choice for future-proofing your finances!
Retirement Plus Multiplier 5 with Income Multiplier GLWB
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
|
11.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
60%
Participation
|
| 2-Year Aging of America PTP Participation Rate |
Point to Point
Biennial
|
200%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 10% | 9% | 8% | 7% | 6% |
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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