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Teton Bonus 7 with Elevation Plus (Variation States)

The Teton Bonus 7 with Elevation Plus is a real breath of fresh air in the annuity world. It guarantees income for life, protecting your savings with strong return rates and a terrific 7% upfront bonus. It's a worry-free choice if you're seeking a steady retirement income stream.

Moreover, what really stands out is its Elevation Plus feature which offers upside potential with downside protection. This means you can grow your savings while enjoying a safety net. It's a smart, reliable option for those planning for a secure future. Choose Teton Bonus 7, and let your money do the hard work for you.

Teton Bonus 7 with Elevation Plus (Variation States)

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Investment

Your Gender

Your Age

Retire At

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About Product

Type

Fixed Index

Purpose

Accumulation

Premium Bonus

12%

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

Minimum Contribution

$10,000

Maximum Contribution

$1,000,000

Max Age Qualified

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

The Teton Bonus Series is designed to help meet your long-term retirement savings needs. They include a withdrawal charge period. If you withdraw more than the free amount allowed during the withdrawal charge period, a withdrawal charge, market value adjustment, and premium bonus recovery, if applicable, will be applied. These charges do not apply to free withdrawals, cumulative withdrawals, RMDs, nursing home-withdrawals, terminal illness withdrawals, home-health care withdrawals, income payments, or death benefits. (For more information see Certificate of Disclosure.)

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

Elevation Plus
Elevation Plus is an optional rider that can be added to Teton Bonus. Elevation or Elevation Plus can be added to Teton Bonus but not both.

Available in states: AK, CO, CT, DE, ID, MA, MN, MO, MT, NV, OH, OR, PA, SC, TX, UT, and WA

Allocation Accounts

Name	Type	Rates
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 S&P 500 RavenPack AI PTP Boost Spread	Boost Annual	2.25% Spread
1-Year Fixed Account	Fixed	2.75% Fixed
1-Year Fixed Account (CO Only)	Fixed	2.75% Fixed
1-Year S&P 500 PTP Monthly Average Participation Rate	Point to Point Annual Monthly average	70% Participation
1-Year S&P 500 PTP Monthly Sum Cap	Point to Point Annual Monthly sum	2% Cap
1-Year S&P 500 PTP Cap	Point to Point Annual	5.75% Cap
1-Year Nasdaq Generations 5 PTP Participation Rate	Point to Point Annual	145% Participation
1-Year S&P 500 RavenPack AI PTP Participation Rate	Point to Point Annual	150% Participation
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	37% Participation
1-Year Barclays Atlas 5 PTP Participation Rate	Point to Point Annual	140% 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
Penalty	9%	8%	8%	7%	6%	5%	4%

Riders

Name	Inbuilt	Fee
Elevation Plus Rider	Yes
Elevation Plus Rider (CT)	Yes

Waivers

Nursing Home

Unavailable in states: CA

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. 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

Up to 100% of the Account Value can be withdrawn 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.

Premium Notes

Minimum Premium

$10,000 Qualified and Non-Qualified
Additional premiums allowed 1st 12 months. (Minimum Additional Premium: $2,000)

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. Additional premiums accepted as both, Lump Sum or Periodic payments.

Note: we take TSP as a rollover to IRA.

Withdrawal Provisions

Free WithdrawalsIn the first 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 WithdrawalsIf not 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