Select Series: Fixed Indexed Annuity

Fixed Index Annuity

With our Select Series Annuity, policyholders will enjoy guaranteed safety of principal along with the opportunity to participate in the potential growth of the S&P 500 Index without subjecting their principal to market risk. At the time of application, this product also allows you to elect the optional Guaranteed Lifetime Withdrawal Benefit rider designed to generate a higher level of guaranteed lifetime income.

Policy Features

  • 3-Year, 5-Year, 7-Year or 10-Year durations
  • Designed for long-term accumulation of funds and building retirement income
  • Guaranteed Lifetime Withdrawal Benefit (GLWB) - for an additional annual fee of only .95% of the accumulation value3
  • Ability to start and stop income at any time3
  • Income account accumulates at a rate of 7.55%1. The income account may not be distributed as a lump sum and is only used to calculate the monthly GLWB payments
  • Waiver of withdrawal charges rider for terminal illness, home healthcare and nursing home4
  • 10% Free Withdrawal Provision after year one

Surrender Charge Schedule

Duration Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Select 3 10% 9% 8%
Select 5 10% 9% 8% 7% 6%
Select 7 10% 9% 8% 7% 6% 5% 4%
Select 10 10% 9% 8% 7% 6% 5% 4% 3% 2% 1%

Surrender/withdrawal charges and a market value adjustment6 apply during the first ten contract years. The early surrender/withdrawal charge is 10% in the first year and reduces 1% each year thereafter. If you surrender or withdraw funds from your annuity before the end of the tenth contract year, surrender/withdrawal charges and a market value adjustment will not be applied in the following cases:

  • Penalty Free Interest Only Withdrawals during year one
  • 10% Free Withdrawal Provision after the first contract year
  • Waiver of Surrender/Withdrawal Charges for4:
    • Home Health Care Benefit
    • Terminal Illness Benefit
    • Nursing Home Benefit

Contribution Limits & Issue Ages

Product Minimum Maximum
All Ages 18-75 76-80
Select 10 $10,000 $500,000 $350,000
Select 3, Select 5, Select 7 $20,000 $1,000,000 $750,000

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