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Best Guaranteed Annuity Rates
2-Year
5.55%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

Vega 7 (Compact States)

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Highlights

The SILAC Vega Series is a comprehensive fixed index annuity focused on the accumulation of retirement benefits. The benefit value that automatically comes with all Vega FIA's offers multiple income options, growth, and an enhanced legacy benefit to navigate retirement.
Available in states: AK, MN, MT, OH, OR, PA, UT, and WA
Type
Fixed Index
Purpose Lifetime Income
Term
7 Years
Surrender schedule
9.3%8.4%7.5%6.6%5.7%4.75%3.8%
Free withdrawal
1st year: 0%
2nd+ year: 5%
Market value adjustment
Return of premium
Launch date
12/20/2021
Minimum contribution
$10,000
Maximum contribution
$1,000,000
Max Age Qualified
90
Types of funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, Stretch IRA, and TSP
Brochure
Open brochure

Find out if the Vega 7 (Compact States) is the right product for you.

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.
Maximum Premium 
  • $1,000,000 (Larger amounts will be considered with Home Office approval) 
Note: we take TSP as a rollover to IRA.

Withdrawal Provisions

Free Withdrawals
In the 1st Policy Year, Required Minimum Distributions (RMD) can be withdrawn. After the 1st Policy Year, up to 5% of the Account Value or RMD can be withdrawn.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.

Rider Withdrawals There are two types of Rider Withdrawals that come with Vega: 1. Accelerated Withdrawals and 2. Lifetime Withdrawals
Accelerated Withdrawals are included with Vega automatically and provide withdrawals for a specified period of time. Accelerated Withdrawals are not available if Lifetime Withdrawals have been elected. After the tenth Policy Year, (7th if the 7-year withdrawal charge period is elected) and once you have reached age 50, you may elect to begin Accelerated Withdrawals. The Accelerated Withdrawal is equal to the Benefit Value divided by the Accelerated Withdrawal Payment Period which is 10 years. Accelerated Withdrawals stop once they've been received for 10 years or at death, whichever is earlier. 

Allocation Accounts

Name Type Rates
1-Year Barclays Atlas 5 Boost Spread
Boost
Annual
0.5% Spread
1-Year S&P 500 RavenPack AI PTP Boost Spread
Boost
Annual
0.75% Spread
1-Year Nasdaq Generations 5 Boost Spread
Boost
Annual
0.5% Spread
1-Year Fixed Account
Fixed
2% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
5% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
30% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.75% Cap
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
50% Participation
1-Year Barclays Atlas 5 PTP Participation Rate
Point to Point
Annual
110% Participation
1-Year S&P 500 RavenPack AI PTP Participation Rate
Point to Point
Annual
115% Participation
1-Year Nasdaq Generations 5 PTP Participation Rate
Point to Point
Annual
112% Participation
1-Year S&P 500 Duo Swift PTP Participation Rate
Point to Point
Annual
40% Participation

Surrender schedule

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

Riders

Name Inbuilt Fee
Vega 7 with Level Lifetime Withdrawal Benefit Yes
Vega 7 with Increasing Lifetime Withdrawal Benefit Yes
Vega 7 with Level Lifetime Withdrawal Benefit (MN, OH, OR, PA, WA) Yes
Vega 7 with Increasing Lifetime Withdrawal Benefit (MN, OH, OR, PA, WA) Yes

Waivers

Nursing Home

Nursing Home Benefit After the first policy year, you can withdraw up to 100% of your annuity’s account value if you become confined to a qualified care facility for at least 90 consecutive days and meet the eligibility requirements. There is a waiting period of 1 year after policy issue date, and you cannot be confined at the time the policy is issued.

Terminal Illness

Terminal Illness Benefit After the first policy year, you can withdraw up to 100% of your annuity’s account value if you are diagnosed with a terminal illness that results in a life expectancy of 12 months or less and you meet the eligibility requirements. Your terminal illness must be diagnosed after the policy is issued.

ADL

Home Health Benefit After the first policy year, you can withdraw up to 20% of your annuity’s account value each year for 5 years if you need home health care services and meet the eligibility requirements.

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