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-brochure Summit Bonus Index with Income Rider-brochure

Summit Bonus Index with Income Rider

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Ratings:

  • A.M. Best B++

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About Product

Type
Fixed Index
Purpose
Lifetime Income
Premium Bonus
12%
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
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%

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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.

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