Secure Savings Elite
Secure Savings Elite is a comforting nest for your hard-earned money. This annuity plan guarantees a robust growth rate for your premium, whether the market swings high or low. You get peace of mind with principal protection, ensuring that your initial investment and interest earned are secure.
With Secure Savings Elite, you get easy access to your funds after the initial period, offering you financial security for life's unexpected events. Plus, the deferred tax on your earnings makes this plan even more attractive. When it comes to transferring your wealth, your loved ones are well-taken care of. A fantastic annuity plan for a secure future.
Secure Savings Elite
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 2 years | 3.15% |
| 3 years | 4.5% |
| 5 years | 3.75% |
Free Withdrawals
In the first policy year, the greater of credited interest only or Require Minimum Distribution (RMD) may be withdrawn. In the second policy year and after, the greater of 5% of the Account Value, credited interest or RMD may be withdrawn.
Required minimum distributions (RMDs) are mandatory withdrawals from qualified contracts. They are required for anyone over age 72. If the optional Required Minimum Distribution Rider is elected, RMDs are considered a free withdrawal, even if they exceed 5% of the account value.
Liquidity Riders
With the Secure Savings Elite, you may choose to purchase the following optional liquidity riders:
- Accumulated Interest Rider: Beginning in the first policy year, the interest credited may be withdrawn
- Required Minimum Distribution Rider: Beginning in the first policy year, RMDs may be withdrawn.
- 5% Penalty-Free Withdrawal Rider: Beginning in the second policy year, 5% of the account value can be withdrawn.
Market Value Adjustment (MVA)
A Market Value Adjustment (MVA) applies to a full or partial surrender to which a withdrawal charge applies. It can either increase or decrease the amount you’ll receive from a surrender or excess withdrawal. It does not apply during the 30-day window or after the withdrawal charge period.
Death Benefit
Beneficiary(ies) will receive the Cash Value upon death of the Owner.
Note: we take TSP as a rollover to IRA.
Inherited IRAs:
Inherited IRAs will be allowed on Secure Savings Elite 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.
- Secure Savings Elite requires the RMD liquidity rider to be included.
- Distribution restrictions apply
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Accumulated Interest Rider | No | 0.06% rate reduction |
| 5% Penalty Free withdrawal Rider | No | 0.06% rate reduction |
| Required Minimum Distribution Rider | No | 0.10% rate reduction |
Waivers
Surrender Window
You will have a 30-day window to select a new guaranteed interest rate. During this window, you can: 1. Continue the policy; 2. Apply the account value to an income option; 3. Take a partial withdrawal, with no withdrawal charges or MVA, and continue the policy with the remaining account value; 4. Surrender your annuity with no withdrawal charges or MVA.
- A.M. Best B
- Comdex 32
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