United Life Insurance Company
4.2
based on complex data
Annuity Educator Rating
Annuity review

Access SPDA 4

The Access SPDA 4 annuity is an excellent choice for those who want a secure and steady income during retirement. Enjoy peace of mind with guaranteed interest rates, flexible withdrawal options with free withdrawals for Required Minimum Distributions and up to 10% of accumulated value each year, without forgeting the power tax deferral provides. Rest assured, your hard-earned funds have protection from market fluctuations.

The death benefit allows your loved ones to be taken care of by passing on the annuity fund to your beneficiary if need be. Moreover, you'll be relieved to know there are no front-end charges or annual fees, with all of your money working for you from the first day. Whether you're nearing retirement or already enjoying your golden years, the Access SPDA 4 annuity offers a comforting blend of reliability and financial growth. In addition, the company's strong reputation and corresponding functions guarantee great customer service and support whenever required.

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Access SPDA 4

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About Product

Premium Type
Single Premium
Fee withdrawal:
10% (From Year 2)
Market Value Adjustment
No
Return Of Premium
No
Minimum Contribution
$5,000
Maximum Contribution
$1,000,000
Max Age Qualified
100
Types Of Funds
Non-Qualified, 401k, IRA, Pension, IRA Rollover, IRA Transfer, TSA 403b, IRA-Roth, SIMPLE IRA, 457 plan, 1035 Exchange, and TSP
Launch Date
03/02/2020

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
4 years 2.75%
Access Single Premium Deferred Annuity (SPDA) allows for a single premium payment. The minimum premium you may make is $5,000. Interest rate guarantees are outlined below. The amount of interest to be credited is somewhat dependent on the amount of premium deposited. If the premium is less than $10,000, the interest rate guaranteed after December 31st of the year of issue is ½ % less than for premium deposits at the same time for a similar policy over $10,000. The annuity fund value will increase during the surrender period by interest credited at a conditionally guaranteed rate shown on the policy data pages. If the amount of the annuity fund value drops below the threshold shown on the data pages, then we will credit interest at the rate that has been determined by our Board of Directors for all monies on deposit at the end of the period ending December 31st of the prior calendar year or as may be redetermined by our Board of Directors once during the current calendar year. The crediting rate will never be less than the Basic Interest Rate.

Death Benefit
If you are the annuitant and die before we start to pay you income from your annuity, we pay the annuity fund value to your beneficiar y. If you are the owner of the deferred annuity but not the annuitant, death benefit proceeds may also be payable at your death. See the “Ownership” provision in your annuity contract for details. If you elect to take regular monthly income payments of principal and interest, we will issue you a supplemental contract. If you die after the payouts start, whether or not there is a death benefit payable to your beneficiary and how that benefit if any, would be paid, is dependent on the type of payout you chose.

Withdrawal Features
Free withdrawals for: 
  • Required Minimum Distributions 
  • 10% of accumulated value per year or accumulated interest, whichever is greater. 
Withdrawals in excess of free withdrawal provisions made during surrender charge period will incur surrender charge.

Guaranteed Minimum Interest Rate
If the Basic Interest Rate (BIR) at contract issuance is greater than the GMIR, the higher rate applies during the surrender charge period.

Note: TSP funds have to be rolled into an IRA.

Year by Year Account Balance

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Riders

No Riders for Access SPDA 4 annuity.

Waivers

Death

Surrender charges are waived upon the death of the annuitant only.

Nursing Home

Beginning at policy issue. Waiver applicable to annuitant only. The nursing home waiver does not include home health care.

Terminal Illness

12 month life expectancy. Waiver applicable to annuitant only.

Company Founded: 1962
Excellent Rated Company
United Life Insurance Company
Company Ratings
4.1
  • A.M. Best A-
  • Comdex 59
Assets: $5,045,179,622
Iowa

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