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.

Sentinel Security Life Insurance Company
15 customer reviews
Summit Bonus Index-brochure Summit Bonus Index-brochure

Summit Bonus Index

Your Email

Ratings:

  • A.M. Best B++

About Product

Type
Fixed Index
Purpose
Accumulation
Premium Bonus
7%
Term
10 Years
Surrender schedule
12%11%10%9%8%7%6%5%4%2%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No x
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
Launch Date
03/27/2013
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

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

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

You might also be interested in

James Alden Experienced Financial Advisor
25 years experience
3,712 career consultations
4 slots free for today
scheduling.
Your Name
Your Phone
Thank you for your trust! I have received your contact information. Please wait for a call within 30 minutes. 😌