Summit Bonus Index
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.
Summit Bonus Index
Ratings:
- A.M. Best B++
About Product
Non-Qualified: $10,000
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
1.5%
Fixed
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
2.5%
Cap
|
1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
2.5%
Cap
|
1-Year S&P 500 PTP Daily Average Cap |
Point to Point
Annual
Daily average
|
2.5%
Cap
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
1.1%
Cap
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Penalty | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 2% |
Riders
No Riders for Summit Bonus Index annuity.
Waivers
No Waivers for Summit Bonus Index annuity.
Withdrawal Provisions
- RMD or the interest earned on the Fixed Account is available Penalty-Free during the first Policy Year.
- RMD or up to 10% of the Accumulation Value is available Penalty-Free after the first Policy Year.
- A maximum of two withdrawals are allowed each Policy Year.
- Minimum withdrawal amount of $250; Minimum account value after withdrawal is $2,500