![]() Death Benefit Feature: This rider waives all withdrawal fees that would typically accompany a lump sum death benefit payout to beneficiaries.Preferred 10% Free Withdrawal: Rather than stick to just 10% fee-free withdrawals annually, this rider permits annuitants to take out however much they want for their first withdrawal each year after their second contract anniversary.Required Minimum Distribution: RMDs you initiate won’t encounter any withdrawal fees or MVAs.There are four benefit riders available with this contract, including: Meanwhile, the indexed account increases or decreases in value depending on how the S&P 500 performs. The latter benefit is based on the fact that this product is a fixed indexed contract, meaning annuitants can divide their money between a fixed account and an indexed account.įor the fixed account, your assets will grow based on a predetermined interest rate that Sentinel Security Life sets. The Personal Choice Plus+ annuity takes the Personal Choice annuity a step further, as it provides access to four riders and an increased return potential. Similar to a certificate of deposit (CD), the Personal Choice annuity from Sentinel Security Life offers better interest rates the longer you lock your money up. In the event that you withdraw from your contract before age 59.5, the IRS will charge you a 10% income surtax. Beyond this, you’ll adhere to a specific schedule based on the length of the interest rate term you select. The Personal Choice annuity has withdrawal charges, but you can take out as much as 10% of your contract value annually before incurring them. Terminal Illness/Nursing Home Care: 0.15%.However, the contract’s various benefit riders come with interest rate reductions rather than traditional fee rates: There are no annual contract fees associated with this annuity. ![]() Accumulated Interest Withdrawal: If you plan on taking withdrawals from your contract that are equal to your accumulated interest at the time, this rider will waive all fees and MVAs. ![]() Death Benefit Feature: This adds a death benefit to your contract, making the payout to your beneficiaries equal to your contract’s value at the time of your passing.72(t) Free Withdrawal: Should you take advantage of Rule 72(t), this rider offers a waiver for any related withdrawal fees.The same applies to any situation where the annuitant is confined to a nursing home for 90 consecutive days or more. Terminal Illness/Nursing Home Care: If you’re diagnosed with a heart attack, stroke, life-threatening cancer or another terminal illness, withdrawal charges are waived.Preferred 10% Free Withdrawal: Beginning during your second year of ownership, your first withdrawal each year can surpass the allotted fee-free amount of 10%.Required Minimum Distribution: This will let you make your required minimum distributions (RMDs) without having to worry about withdrawal fees or market value adjustments (MVAs).Here’s a breakdown of the options available to you: Although this contract earns interest at a fixed rate, its real draw is the selection of benefit riders annuitants can choose from. The Personal Choice annuity from Sentinel Security Life has a $2,500 minimum initial premium and a maximum issue age of 90. When it comes to Sentinel’s financial strength, A.M. A financial advisor can help you determine which type of annuity or life insurance policy is best suited to fit your needs.Īnnuity TypeMulti-year guaranteed annuity (MYGA) ![]() Today, the Utah-based company offers a wide selection of fixed indexed, income and multi-year guaranteed annuities, as well as life insurance and healthcare insurance policies. Sentinel Security Life Insurance Company has been in business for over 70 years, having first opened in 1948. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |