Summit Bonus Index with Income Rider
The Summit Bonus Index with Income Rider is a life-saver! Great return and secure income for life, perfect for us retirees. The bonus feature is a real cherry on top - extra cash credited each year is a delight.
They've made understanding retirement simple. You get to relax while they wisely invest your money. What I find reassuring is you'll never lose your initial investment, even when markets dip. Definitely a smart choice for future planning!
Summit Bonus Index with Income Rider
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
| Name | Inbuilt | Fee |
|---|---|---|
| Sentinel Summit Bonus GLWB | Yes | 1.30% annually (1.50% max) |
Waivers
No Waivers for Summit Bonus Index with Income Rider 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.
- A.M. Best B++
