4.9
based on complex data
Annuity Educator Rating
Annuity review
Teton 14 with Elevation Plus
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.
Teton 14 with Elevation Plus
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About Product
Type
Fixed Index
Purpose
Accumulation
Premium Bonus
5%
Term
14 Years
Surrender schedule
14.75%
13.75%
12.75%
11.75%
10.75%
10%
9%
8%
7%
6%
5%
4%
3%
2%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
80
Types Of Funds
Non-Qualified, 401k, 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.
Elevation Plus is an optional rider that can be added to Teton. It includes the following enhanced benefits:
Premium Bonus
Interest & Bonus Recovery. Only applies to a full or partial withdrawal to which a withdrawal charge applies. Amount recovered is equal to Account Value less Premiums; including premium bonus and interest credits.
Free Withdrawals
The annual Free Withdrawal percentage is increased to 10%.
Cumulative Withdrawals
If no withdrawals are taken in a given policy year, fully unused free withdrawals can be carried over to the next year up to the maximum cumulative free withdrawal percentage of 30%.
The annual spread is 1.00% of your Account Value. The spread will never exceed the policy’s interest credit and occurs on each policy anniversary during the withdrawal charge period. Please see the Certificate of Disclosure for more information.
The boost increases your interest credit.
Elevation Plus is an optional rider that can be added to Teton. It includes the following enhanced benefits:
Premium Bonus
Interest & Bonus Recovery. Only applies to a full or partial withdrawal to which a withdrawal charge applies. Amount recovered is equal to Account Value less Premiums; including premium bonus and interest credits.
Free Withdrawals
The annual Free Withdrawal percentage is increased to 10%.
Cumulative Withdrawals
If no withdrawals are taken in a given policy year, fully unused free withdrawals can be carried over to the next year up to the maximum cumulative free withdrawal percentage of 30%.
The annual spread is 1.00% of your Account Value. The spread will never exceed the policy’s interest credit and occurs on each policy anniversary during the withdrawal charge period. Please see the Certificate of Disclosure for more information.
Available in states:
AL, AZ, AR, CA, CO, DC, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MI, MS, NE, NH, NM, NC, ND, OK, RI, SD, TN, VT, VA, WV, WI, and WY
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Barclays Atlas 5 PTP Boost Spread (CA Only) |
Boost
Annual
|
3.25%
Spread
|
| 1-Year S&P 500 RavenPack AI PTP Boost Spread (CA Only) |
Boost
Annual
|
3.5%
Spread
|
| 1-Year Nasdaq Generations 5 Boost Spread (Most States) |
Boost
Annual
|
3.5%
Spread
|
| 1-Year Barclays Atlas 5 Boost Spread (Most States) |
Boost
Annual
|
3.5%
Spread
|
| 1-Year Nasdaq Generations 5 PTP Boost Spread (CA Only) |
Boost
Annual
|
3.25%
Spread
|
| 1-Year Nasdaq Generations 5 Boost Spread (CO Only) |
Boost
Annual
|
3.5%
Spread
|
| 1-Year Barclays Atlas 5 Boost Spread (CO Only) |
Boost
Annual
|
3.5%
Spread
|
| 1-Year S&P 500 RavenPack AI PTP Boost Spread (CO Only) |
Boost
Annual
|
3.75%
Spread
|
| 1-Year S&P 500 RavenPack AI PTP Boost Spread (Most States) |
Boost
Annual
|
4%
Spread
|
| 1-Year Fixed Account (Most States) |
Fixed
|
4.5%
Fixed
|
| 1-Year Fixed Account (CA Only) |
Fixed
|
4.25%
Fixed
|
| 1-Year Fixed Account (CO Only) |
Fixed
|
4.25%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate (CO Only) |
Point to Point
Annual
|
52%
Participation
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate (CA Only) |
Point to Point
Annual
Monthly average
|
92%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap (CA Only) |
Point to Point
Annual
Monthly sum
|
2.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate (CA Only) |
Point to Point
Annual
|
50%
Participation
|
| 1-Year S&P 500 PTP Cap (CA Only) |
Point to Point
Annual
|
7.75%
Cap
|
| 1-Year Nasdaq Generations 5 PTP Participation Rate (CA Only) |
Point to Point
Annual
|
180%
Participation
|
| 1-Year S&P 500 RavenPack AI PTP Participation Rate (CA Only) |
Point to Point
Annual
|
187%
Participation
|
| 1-Year Barclays Atlas 5 PTP Participation Rate (CA Only) |
Point to Point
Annual
|
175%
Participation
|
| 1-Year S&P 500 Duo Swift PTP Participation Rate (CA Only) |
Point to Point
Annual
|
67%
Participation
|
| 1-Year Barclays Atlas 5 PTP Participation Rate (CO Only) |
Point to Point
Annual
|
182%
Participation
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate (CO Only) |
Point to Point
Annual
Monthly average
|
95%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap (CO Only) |
Point to Point
Annual
Monthly sum
|
2.65%
Cap
|
| 1-Year Bloomberg Versa 10 PTP Participation Rate (CA Only) |
Point to Point
Annual
|
85%
Participation
|
| 1-Year S&P 500 PTP Cap (CO Only) |
Point to Point
Annual
|
8%
Cap
|
| 1-Year S&P 500 PTP Monthly Average Participation Rate (Most States) |
Point to Point
Annual
Monthly average
|
97%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap (Most States) |
Point to Point
Annual
Monthly sum
|
2.75%
Cap
|
| 1-Year S&P 500 PTP Participation Rate (Most States) |
Point to Point
Annual
|
52%
Participation
|
| 1-Year S&P 500 PTP Cap (Most States) |
Point to Point
Annual
|
8.25%
Cap
|
| 1-Year Barclays Atlas 5 PTP Participation Rate (Most States) |
Point to Point
Annual
|
187%
Participation
|
| 1-Year S&P 500 RavenPack AI PTP Participation Rate (Most States) |
Point to Point
Annual
|
200%
Participation
|
| 1-Year Nasdaq Generations 5 PTP Participation Rate (Most States) |
Point to Point
Annual
|
190%
Participation
|
| 1-Year S&P 500 Duo Swift PTP Participation Rate (Most States) |
Point to Point
Annual
|
72%
Participation
|
| 1-Year Bloomberg Versa 10 PTP Participation Rate (Most States) |
Point to Point
Annual
|
90%
Participation
|
| 1-Year Bloomberg Versa 10 PTP Participation Rate (CO Only) |
Point to Point
Annual
|
87%
Participation
|
| 1-Year S&P 500 Duo Swift PTP Participation Rate (CO Only) |
Point to Point
Annual
|
70%
Participation
|
| 1-Year S&P 500 RavenPack AI PTP Participation Rate (CO Only) |
Point to Point
Annual
|
195%
Participation
|
| 1-Year Nasdaq Generations 5 PTP Participation Rate (CO Only) |
Point to Point
Annual
|
185%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 15% | 14% | 13% | 12% | 11% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Elevation Plus Rider | Yes |
Waivers
Nursing Home
Unavailable in states: CA, and SD
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 requirement. Available after the 1st Policy Year.
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.
ADL
Unavailable in states: CA, and SD
After the first policy year, you can withdraw up to 20% of your annuity's contract value each year 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.
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.
Company Founded: 1935
Average Rated
Company
Company Ratings
4.7
- A.M. Best B
- Fitch BBB-
- Comdex 32
Assets: $10,393,472,750
Utah
