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
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
|
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% |
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
- A.M. Best B++
