based on complex data

Annuity Educator Rating

Annuity review

Evolve Bonus 7

SILAC Insurance Company, previously referred to as Equitable Life & Casualty Insurance Company, has become a top-tier provider of annuity products for retirement savings. Founded in 1935, the company strives to help customers reach their financial objectives in retirement by offering state-of-the-art annuities. SILAC’s standout products are its fixed-indexed annuities and multi-year guaranteed annuities, which are designed to provide growth potential and consistent income streams. With a rating of B+ from A.M. Best, the company has shown a strong operating performance for almost a century.

Evolve Bonus 7

Your Email

Compare this annuity with 827 others from 100+ companies

Your State

Investment

Your Gender

Your Age

Retire At

About Product

Type

Fixed Index

Purpose

Lifetime Income

Premium Bonus

13%

Term

7 Years

Surrender schedule

12%

11%

10%

Fee withdrawal:

Market Value Adjustment

Yes

Return Of Premium

Minimum Contribution

$10,000

Maximum Contribution

$1,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, 401k, Traditional IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, Inherited IRA, and TSP

Launch Date

05/30/2025

Evolve Bonus is a Fixed Indexed Annuity focused on providing lifetime income. Evolve provides a premium bonus, free withdrawals, lifetime income benefit and enhanced income during a time of need.
Income That Can't Be Outlived
A lifetime withdrawal benefit is automatically included and ensures that you can generate a lifetime income that will last for your life.

Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MI, MN, MS, MO, MT, NE, NV, NH, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, UT, VT, WA, WV, WI, and WY

Allocation Accounts

Name	Type	Rates
1-Year Nasdaq Generations 5 Boost Spread (Variation States)	Boost Annual	2.25% Spread
1-Year Nasdaq Generations 5 Boost Spread (Compact States)	Boost Annual	2% Spread
1-Year Barclays Atlas 5 Boost Spread (Most States)	Boost Annual	2.5% Spread
1-Year Barclays Atlas 5 Boost Spread (Variation States)	Boost Annual	2.25% Spread
1-Year Barclays Atlas 5 Boost Spread (Compact States)	Boost Annual	1.75% Spread
1-Year S&P 500 RavenPack Boost Spread (Variation States)	Boost Annual	2.5% Spread
1-Year S&P 500 RavenPack Boost Spread (Compact States)	Boost Annual	2.25% Spread
1-Year Nasdaq Generations 5 Boost Spread (Most States)	Boost Annual	2.75% Spread
1-Year S&P 500 RavenPack Boost Spread (Most States)	Boost Annual	2.75% Spread
1-Year Fixed Account (Variation States)	Fixed	3% Fixed
1-Year Fixed Account (Most States)	Fixed	3.5% Fixed
1-Year Fixed Account (Compact States)	Fixed	2.75% Fixed
1-Year Barclays Atlas 5 PTP Participation Rate (Compact States)	Point to Point Annual	140% Participation
1-Year Barclays Atlas 5 PTP Participation Rate (Variation States)	Point to Point Annual	150% Participation
1-Year Barclays Atlas 5 PTP Participation Rate (Most States)	Point to Point Annual	160% Participation
1-Year Bloomberg Versa 10 PTP Participation Rate (Compact States)	Point to Point Annual	65% Participation
1-Year Bloomberg Versa 10 PTP Participation Rate (Variation States)	Point to Point Annual	70% Participation
1-Year Bloomberg Versa 10 PTP Participation Rate (Most States)	Point to Point Annual	75% Participation
1-Year S&P 500 PTP Monthly Average Participation Rate (Compact States)	Point to Point Annual Monthly average	70% Participation
1-Year S&P 500 PTP Monthly Average Participation Rate (Variation States)	Point to Point Annual Monthly average	75% Participation
1-Year S&P 500 PTP Monthly Average Participation Rate (Most States)	Point to Point Annual Monthly average	80% Participation
1-Year S&P 500 PTP Monthly Sum Cap (Compact States)	Point to Point Annual Monthly sum	2% Cap
1-Year S&P 500 PTP Monthly Sum Cap (Variation States)	Point to Point Annual Monthly sum	2.1% Cap
1-Year S&P 500 PTP Monthly Sum Cap (Most States)	Point to Point Annual Monthly sum	2.25% Cap
1-Year S&P 500 Duo Swift PTP Participation Rate (Compact States)	Point to Point Annual	52% Participation
1-Year S&P 500 Duo Swift PTP Participation Rate (Variation States)	Point to Point Annual	55% Participation
1-Year S&P 500 PTP Participation Rate (Compact States)	Point to Point Annual	37% Participation
1-Year S&P 500 PTP Participation Rate (Variation States)	Point to Point Annual	42% Participation
1-Year S&P 500 RavenPack PTP Participation Rate (Most States)	Point to Point Annual	170% Participation
1-Year S&P 500 RavenPack PTP Participation Rate (Variation States)	Point to Point Annual	160% Participation
1-Year S&P 500 RavenPack PTP Participation Rate (Compact States)	Point to Point Annual	150% Participation
1-Year S&P 500 PTP Participation Rate (Most States)	Point to Point Annual	45% Participation
1-Year S&P 500 PTP Cap (Compact States)	Point to Point Annual	5.75% Cap
1-Year S&P 500 PTP Cap (Variation States)	Point to Point Annual	6.25% Cap
1-Year Nasdaq Generations 5 PTP Participation Rate (Most States)	Point to Point Annual	162% Participation
1-Year Nasdaq Generations 5 PTP Participation Rate (Variation States)	Point to Point Annual	152% Participation
1-Year Nasdaq Generations 5 PTP Participation Rate (Compact States)	Point to Point Annual	145% Participation
1-Year S&P 500 PTP Cap (Most States)	Point to Point Annual	6.75% Cap
1-Year S&P 500 Duo Swift PTP Participation Rate (Most States)	Point to Point Annual	60% Participation

Surrender schedule

Year	1	2	3	4	5	6	7
Penalty	12%	12%	11%	10%	9%	7%	4%

Riders

Name	Inbuilt	Fee
Evolve Bonus ELWB Level	Yes
Evolve Bonus ELWB Increasing	Yes

Waivers

Nursing Home

Unavailable in states: CA, and ND

Up to 100% of the Account Value can be withdrawn if the Owner is confined to a nursing home for at least 90 consecutive days and meets the eligibility requirements. Available after the 1st Policy Year. Please see the Certificate of Disclosure for more information.

Terminal Illness

Unavailable in states: CA

Up to 100% of the Account Value can be withdrawn if the Owner is diagnosed with a Terminal Illness that results in the Owner having a life expectancy of 12 months or less and eligibility requirements are met. Available after the 1st Policy Year. Please see the Certificate of Disclosure for more information.

ADL

Unavailable in states: CA, and SD

Up to 20% of the Account Value can be withdrawn each year for 5 Policy Years if the Owner is unable to perform 2 of the 6 Activities of Daily Living without the physical assistance of another person and meets eligibility requirements. Available after the 1st Policy Year. Please see the Certificate of Disclosure for more information.

Premium Notes

Minimum Premium
$10,000 Qualified and Non-Qualified
Additional premiums allowed 1st policy year. (Minimum Additional Premium: $2,000)

Withdrawal Provisions

Free WithdrawalsIn the 1st Policy Year, Required Minimum Distributions can be withdrawn. After the 1st Policy Year, up to 5% of the Account Value or RMD can be withdrawn. One free withdrawal allowed per year. Market Value Adjustment (MVA) An MVA applies to any withdrawal to which a withdrawal charge applies. An MVA can either decrease or increase the amount received from a full or partial withdrawal. It does not apply after the withdrawal charge period. Required Minimum Distributions (RMD)Required minimum distributions are mandatory withdrawals from qualified contracts. RMDs can begin immediately and are considered a free withdrawal, even if they exceed 5% of the account value.

Company Founded: 1935

Average Rated Company

SILAC Insurance Company

Company Ratings

4.7