Denali 7 with Evolve (Compact States)

The Denali 7 with Evolve is a wonderful annuity choice for those planning for the future. Its key selling point is the guaranteed income for life that adds an element of security to your retirement plans.

Perhaps the best feature from this product is the ability to withdraw a fixed percentage every year without penalty, giving you flexible access to your funds. A great pick for a worry-free retirement.

SILAC Insurance Company
Denali 7 with Evolve (Compact States)-brochure Denali 7 with Evolve (Compact States)-brochure

Denali 7 with Evolve (Compact States)

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Ratings:

  • A.M. Best B
  • Comdex 35

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About Product

Type
Fixed Index
Purpose
Lifetime Income
Premium Bonus
3%
Term
7 Years
Surrender schedule
9.3%8.4%7.5%6.6%5.7%4.75%3.8%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
90
Types Of Funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, and TSP
Launch Date
06/08/2020
SILAC Denali Series takes you on a new retirement journey. It provides guarantees where you need guarantees and flexibility where you need flexibility.
Available in states: AK, MN, MT, OH, OR, PA, UT, and WA

Allocation Accounts

Name Type Rates
1-Year Barclays Atlas 5 Boost Spread
Boost
Annual
3% Spread
1-Year Nasdaq Generations 5 Boost Spread
Boost
Annual
3% Spread
1-Year S&P 500 RavenPack AI PTP Boost Spread
Boost
Annual
3.25% Spread
1-Year Fixed Account
Fixed
4% Fixed
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
87% Participation
1-Year Barclays Atlas 5 PTP Participation Rate
Point to Point
Annual
167% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.35% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.25% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
45% Participation
1-Year Nasdaq Generations 5 PTP Participation Rate
Point to Point
Annual
172% Participation
1-Year S&P 500 RavenPack AI PTP Participation Rate
Point to Point
Annual
180% Participation
1-Year S&P 500 Duo Swift PTP Participation Rate
Point to Point
Annual
62% Participation

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 9% 8% 8% 7% 6% 5% 4%

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Riders

Name Inbuilt Fee
Denali with Evolve ELWB Level Yes
Denali with Evolve ELWB Increasing Yes

Waivers

Nursing Home

Unavailable in states: CA

After the first policy year, you can withdraw up to 100% of your annuity’s account value if you become confined to a qualified care facility for at least 90 consecutive days and meet the eligibility requirements. There is a waiting period of 1 year after policy issue date, and you cannot be confined at the time the policy is issued.

Terminal Illness

Unavailable in states: CA

After the first policy year, you can withdraw up to 100% of your annuity’s account value if you are diagnosed with a terminal illness that results in you have a life expectancy of 12 months or less and you meet the eligibility requirements. You cannot be confined at the time the policy is issued.

ADL

Unavailable in states: CA

Home Health Benefit. After the first policy year, you can withdraw up to 20% of your annuity’s account value each for 5 years if you need home health care services and meet the eligibility requirements.

Premium Notes

Minimum Premium 
  • $10,000 Qualified and Non-Qualified 
  • Additional premiums allowed 1st 12 months. (Minimum Additional Premium: $2,000). Additional premiums accepted as both, Lump Sum or Periodic payments.
Note: we take TSP as a rollover to IRA.

Withdrawal Provisions

Free Withdrawals
In the 1st Policy Year, Required Minimum Distributions can be withdrawn. After the 1st Policy Year, up to 10% of the Account Value or RMD can be withdrawn. One non-systematic free withdrawal allowed per year.

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