Security Plus
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Highlights
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Premium Type
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Flexible Premium
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|---|---|
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Max age Qualified
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80
|
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Minimum Contribution
|
$1,000
|
|
Maximum Contribution
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$1,000,000
|
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Market value adjustment
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|
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Return of premium
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|
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Free withdrawal
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10% |
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Types of funds
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Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, Pension, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, and KEOGH |
The Security Plus is a Flexible Premium product. The minimum initial contribution is $100, while additional contributions can be made in any interval for as little a $25. Upon request, the company will send contribution reminders on a Monthly, Quarterly, Semi-Annually, or Annual basis. There are seven years of surrender charges that are waived in the event of Annuitization, Death, and confinement to a Nursing Home or Hospital. Additionally, there is an optional Disability Premium Waiver that will continue to make premium payments (based upon previous contributions) if the Annuitant becomes disabled. There is a one year standard rate term.
Find out if the Security Plus is the right product for you.
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 7 | 4% | 3.29% | 4% |
Riders
No Riders for Security Plus annuity.
Waivers
Death
Death Waiver: Upon death of annuitant.
Nursing Home
Nursing Home Waiver: 90 day elimination period.
Terminal Illness
Terminal Illness Waiver: 12 month life expectancy.
Annuitization
Annuitization Waiver: Available after the third contract year.
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