SILAC Insurance Company
5.0
based on complex data
Annuity Educator Rating
Annuity review

Vega Bonus 7 (Most States)

Getting the Vega Bonus 7 annuity is like giving yourself a gift that keeps on giving. Especially designed for retirees, it provides a secure income that you simply can't outlive. Plus, it features a competitive 7% bonus credit to amplify your earnings!

Never lose sleep worrying about your finances. With the Vega Bonus 7, you are not only planning for your future, but you're also making it worry-free and enjoyable. Truly a smart choice for a golden retirement!

Vega Bonus 7 (Most States)-brochure Vega Bonus 7 (Most States)-brochure

Vega Bonus 7 (Most States)

Your Email

Compare this annuity with 800+ others from 100+ companies

$

No agent will call you

About Product

Type
Fixed Index
Purpose
Lifetime Income
Term
7 Years
Surrender schedule
12%
12%
11%
10%
9%
7%
4%
Fee withdrawal:
5%
Market Value Adjustment
Yes
Return Of Premium
No
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
Launch Date
12/20/2021
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: AL, AZ, AR, CT, DC, FL, GA, HI, IL, 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 S&P 500 RavenPack AI PTP Boost Spread
Boost
Annual
1.25% Spread
1-Year Barclays Atlas 5 Boost Spread
Boost
Annual
1% Spread
1-Year Nasdaq Generations 5 Boost Spread
Boost
Annual
1% Spread
1-Year Fixed Account
Fixed
2.25% Fixed
1-Year S&P 500 RavenPack AI PTP Participation Rate
Point to Point
Annual
127% Participation
1-Year Barclays Atlas 5 PTP Participation Rate
Point to Point
Annual
120% Participation
1-Year S&P 500 PTP Monthly Average Participation Rate
Point to Point
Annual
Monthly average
55% 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 Participation Rate
Point to Point
Annual
30% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
5.5% Cap
1-Year Nasdaq Generations 5 PTP Participation Rate
Point to Point
Annual
122% Participation
1-Year S&P 500 Duo Swift PTP Participation Rate
Point to Point
Annual
45% Participation

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 12% 12% 11% 10% 9% 7% 4%

Hypothetical Projection

Comparison against S&P 500 using current rates
indexed chart
See if this annuity ranks in your top 3 for Virginia
$
!

Riders

Name Inbuilt Fee
Vega Bonus 7 with Level Lifetime Withdrawal Benefit (Issue Age 0-80) Yes
Vega Bonus 7 with Level Lifetime Withdrawal Benefit (Issue Age 81-90) Yes
Vega Bonus 7 with Increasing Lifetime Withdrawal Benefit (Issue Age 0-80) Yes
Vega Bonus 7 with Increasing Lifetime Withdrawal Benefit (Issue Age 81-90) Yes

Waivers

Nursing Home

Unavailable in states: SD

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

Unavailable in states: SD

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.

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 WithdrawalsIn 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 WithdrawalsThere are two types of Rider Withdrawals that come with Vega Bonus:   1. Accelerated Withdrawals and 2. Lifetime WithdrawalsAccelerated Withdrawals are included with Vega Bonus 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 attained 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 currently set to 15 years. Accelerated Withdrawals stop once they have been received for 15 years or at death, whichever is earlier. 

Company Founded: 1935
Average Rated Company
SILAC Insurance Company
Company Ratings
4.7
  • A.M. Best B
  • Comdex 32
Assets: $10,393,472,750
Utah

Similar Products

Denali 14 with Evolve (IN Only)
Denali 14 with Evolve (IN Only)
B 8.75%
Fixed Rate
4.00%
Term
14yrs
Retirement Plus Multiplier 5
Retirement Plus Multiplier 5
B++ 5.00%
Fixed Rate
3.00%
Term
5yrs
American Select 7 Bonus Plus
American Select 7 Bonus Plus
B++ 7.75%
Fixed Rate
3.80%
Term
7yrs
James Alden Experienced Annuity Educator
25 years experience
3,712 career consultations
4 slots free for today
scheduling.
Your Name
Your Phone
Thank you for your trust! I have received your contact information. Please wait for a call within 30 minutes. 😌