Sentinel Security Life Insurance Company
4.3
based on complex data
Annuity Educator Rating
Annuity review

Retirement Plus Multiplier 7 with Income Multiplier GLWB

The Retirement Plus Multiplier 7 is an excellent annuity product for those looking to secure a steady income in retirement. Thanks to its Income Multiplier GLWB feature, this annuity ensures your income keeps growing, giving you the peace to enjoy your retirement fully.

Take a peek at the product brochure, it’s filled with potentially beneficial details like enhanced protection and financial security. Retirement Plus Multiplier 7 is there to make your golden years truly shine, ensuring your financial comfort throughout. It’s a reliable option indeed!

Retirement Plus Multiplier 7 with Income Multiplier GLWB-brochure Retirement Plus Multiplier 7 with Income Multiplier GLWB-brochure

Retirement Plus Multiplier 7 with Income Multiplier GLWB

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About Product

Type
Fixed Index
Purpose
Lifetime Income
Term
7 Years
Surrender schedule
10%
9%
8%
7%
6%
5%
4%
Fee withdrawal:
10% (From Year 2)
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$5,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, 401k, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, 1035 Exchange, Stretch IRA, Inherited IRA, and TSP
Launch Date
09/24/2018
Sentinel Plan Retirement Plus Multiplier Annuity is a single premium, deferred annuity with four different index crediting strategies in addition to a fixed account. Two optional riders are available, the Growth Benefit (Accumulation Buy-up Rider) and the Income Multiplier (Guaranteed Lifetime Withdrawal Benefit), one of which may be selected.
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.
Available in states: AL, AZ, AR, CA, CO, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, MD, MN, MS, MT, NE, NV, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TX, UT, WA, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
3% 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
5% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
28% 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
38% Participation

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 10% 9% 8% 7% 6% 5% 4%

Hypothetical Projection

Comparison against S&P 500 using current rates
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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

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 

Company Founded: 1948
Good Rated Company
Sentinel Security Life Insurance Company
Company Ratings
4.8
  • A.M. Best B++
Assets: $1,214,615,649
Utah

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