SILAC Insurance Company
4.3
based on complex data
Annuity Educator Rating
Annuity review

Teton 10 with Elevation Plus (CA Only)

The Teton 10 with Elevation Plus is a terrific annuity option for residents of California. Its key benefits include guaranteed lifetime income, great for those looking to retire without financial worries.

Moreover, offering a chance of increased returns when the market goes up, but protection when it goes down, is quite reassuring! Secure your future with this stellar annuity product.

Teton 10 with Elevation Plus (CA Only)-brochure Teton 10 with Elevation Plus (CA Only)-brochure

Teton 10 with Elevation Plus (CA Only)

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About Product

Type
Fixed Index
Purpose
Accumulation
Premium Bonus
5%
Term
10 Years
Surrender schedule
8.1%
7.25%
6.35%
5.5%
4.6%
3.7%
2.75%
1.85%
0.9%
0.5%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, Inherited IRA, and TSP
Launch Date
05/01/2019
Teton is a Modified Single Premium Fixed Indexed Annuity. Teton may be a good fit if you are looking for:   
  • Guarantees
    You can choose the certainty of a fixed interest rate that is annually declared and subject to minimum guarantees. Your annuity also has a Minimum Guaranteed Value. 
  • Growth Potential
    You also have the choice of interest based on the performance of an external market Index. 
  • Protection of Principal
    Your savings are always protected from market fluctuations and are 100% principal protected. There is no direct downside market risk to your funds. 
  • Tax Deferral
    Save more for retirement with tax deferred growth. The Teton Series allows you to keep more of your retirement savings working for you by deferring taxes until you choose to access the funds in your annuity. 
  • Access to Funds
    Multiple liquidity options are available to help you when life throws a curveball. After the withdrawal charge period, you can always access the full account value of your annuity. 
  • Wealth Transfer
    Leave a legacy for your loved ones and avoid probate. The full account value is available after your death. If your spouse is the beneficiary, then he or she can always choose to continue the policy. 
Barclays Atlas 5 Boost/Spread - Spread decreases your interest rate. Your interest credit will never be less than zero.
The boost increases your interest credit.

Inherited IRAs
Inherited IRAs will be allowed on Teton subject to the following conditions: 
  • Inherited IRAs are not accepted for a deceased who passed in 2020 or later. 
  • When the beneficiary is younger than the decedent, maximum issue age of 65.
  • When the beneficiary is older than the decedent, the maximum age at death is 65. 
  • If the new SILAC IRA is Teton or Teton Bonus, additional premiums will not be accepted 
  • Distribution restrictions apply
Elevation Plus
Elevation Plus is an optional rider that can be added to Teton. Elevation or Elevation Plus can be added to Teton but not both. 
Available in states: CA

Allocation Accounts

Name Type Rates
1-Year Nasdaq Generations 5 Boost Spread
Boost
Annual
3.25% Spread
1-Year S&P 500 RavenPack AI PTP Boost Spread
Boost
Annual
3.5% Spread
1-Year Barclays Atlas 5 Boost Spread
Boost
Annual
3.25% Spread
1-Year Fixed Account
Fixed
4% Fixed
1-Year Nasdaq Generations 5 PTP Participation Rate
Point to Point
Annual
182% Participation
1-Year S&P 500 RavenPack AI PTP Participation Rate
Point to Point
Annual
190% Participation
1-Year Barclays Atlas 5 PTP Participation Rate
Point to Point
Annual
180% Participation
1-Year S&P 500 Duo Swift PTP Participation Rate
Point to Point
Annual
67% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.75% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
50% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.5% Cap
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
92% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 8% 7% 6% 6% 5% 4% 3% 2% 1% 1%

Hypothetical Projection

Comparison against S&P 500 using current rates
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Riders

Name Inbuilt Fee
Elevation Plus Rider Yes

Waivers

No Waivers for Teton 10 with Elevation Plus (CA Only) annuity.

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.Cumulative Free Withdrawals If no withdrawals are taken in a given year, fully unused free withdrawals can be carried over to the next policy year. The maximum cumulative free withdrawal amount is 50% of your account value (as of the most recent policy anniversary).

Company Founded: 1935
Average Rated Company
SILAC Insurance Company
Company Ratings
4.7
  • A.M. Best B
  • Comdex 35
Assets: $10,393,472,750
Utah

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