Summit Bonus Index
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Highlights
Sentinel Summit Bonus Index is a 10 year, single premium, deferred annuity with four different indexing strategies, in addition to a fixed account. An Income Rider is also available with a rollup that will continue to compound for up to 20 years.
Available in states:
AL, AZ, AR, CA, CO, FL, GA, HI, 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
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Premium Bonus
|
7% |
|
Term
|
10 Years |
|
Surrender schedule
|
12%11%10%9%8%7%6%5%4%2% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
03/27/2013 |
|
Minimum contribution
|
Qualified: $5,000 Non-Qualified: $10,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
80 |
|
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 |
Brochure
|
Open brochure |
Find out if the Summit Bonus Index is the right product for you.
Withdrawal Provisions
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
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.
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