Teton Bonus 10 (CA Only)

SILAC Insurance Company
Teton Bonus 10 (CA Only)-brochure Teton Bonus 10 (CA Only)-brochure

Teton Bonus 10 (CA Only)

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Ratings:

  • A.M. Best B
  • Comdex 35

About Product

Type
Fixed Index
Purpose
Accumulation
Premium Bonus
9%
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:
5%
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 Bonus annuity series is a Modified Single Premium Fixed Indexed Deferred Annuity series. It's intended for a client seeking a long-term retirement savings vehicle. Different Withdrawal Charge Periods are available for you to choose from.

Barclays Atlas 5 Spread/Boost - 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
Available in states: CA

Allocation Accounts

Name Type Rates
1-Year S&P 500 RavenPack AI PTP Boost Spread
Boost
Annual
2.25% Spread
1-Year Barclays Atlas 5 Boost Spread
Boost
Annual
1.75% Spread
1-Year Nasdaq Generations 5 Boost Spread
Boost
Annual
2% Spread
1-Year Fixed Account
Fixed
3% Fixed
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
72% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
40% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
5.75% Cap
1-Year S&P 500 RavenPack AI PTP Participation Rate
Point to Point
Annual
150% Participation
1-Year Barclays Atlas 5 PTP Participation Rate
Point to Point
Annual
140% Participation
1-Year Nasdaq Generations 5 PTP Participation Rate
Point to Point
Annual
145% Participation
1-Year S&P 500 Duo Swift PTP Participation Rate
Point to Point
Annual
52% 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%

Riders

No Riders for Teton Bonus 10 (CA Only) annuity.

Waivers

No Waivers for Teton Bonus 10 (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.
The Teton Bonus series allows you to add an additional premium for the first policy year. All additional premiums will automatically be applied to the fixed interest strategy and can be reallocated at the end of the first year.

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 5% 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 30% of your account value (as of the most recent policy anniversary).

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