At a glance
The Select Benefit Annuity is a single premium, fixed index annuity with seven available interest crediting options and the choice of two optional riders that include a premium bonus – the Accelerated Income Rider and the Legacy Preservation Rider.
Select Benefit Annuity offers a combination of contract guarantees, optional riders with bonus, flexible interest choices and withdrawal options.
The Select Benefit Annuity is not currently available for sale for new contracts.
Select Benefit Annuity offers:
- A bonus of up to 10%1 (requires purchase of the Accelerated Income Rider or the Legacy Preservation Rider, and a vesting schedule applies)
- 5% free annual withdrawals (available in the first year based on Purchase Payment amount and then the prior year contract anniversary Account Value beginning with the second contract year)
- Guaranteed Minimum Interest Rate for the Fixed Account
- Multiple interest-crediting options
- Nursing Home Waiver2
- Terminal Illness Waiver2
The optional Accelerated Income Rider provides:
- 7% annual Roll-up3
- Accelerated Income in the first 10 years of taking income (after the first 10 years, the Annual Income is reduced by 50%)
- Competitive Payout Factors
- Guaranteed Annual Income
- Single or Joint payout
- Home Healthcare Doubler4
The optional Legacy Preservation Rider provides:
- 3% annual Roll-up to the Income Benefit Base for up to 20 years or age 85, but a minimum of 5 years
- The ability to take dollar for dollar withdrawals during the Roll-up term (up to an annual maximum)
- RMD friendly
The GLWB Rider and GMDB Rider cannot be purchased together.
For more information about Select Benefit Annuity speak with your financial professional.
11 In AK, CA, ID, IN, MN, MO, NH, NJ, NV, OH, OK, OR, PA, SC, TX, UT and WA, the bonus is 8%; in FL the bonus is 9%.
2Availability varies by state.
3For the first 10 Contract Years, as long as Lifetime Annual Income is not taken and the Owner has not reached age 85, the Benefit Base increases by at least 7% on each Contract Anniversary.
4If the Covered Person (or if applicable, the Joint Covered Person) becomes unable to perform at least two of the six basic activities of daily living, the Home Healthcare Doubler doubles the Withdrawal Rate for up to three years, without affecting the Annual Income after the 5 year period. After the 3 year period, the Lifetime Withdrawal Rate used to calculate Annual Income will revert to the original Withdrawal Rate. A physician's certification and annual recertification are required and the Home Healthcare Doubler may only be applied for once.