SOFR:
The Guaranteed Income Annuity’s interest rate is calculated by utilizing a participation rate of the Secured Overnight Financing Rate, or SOFR rate. The SOFR rate is a benchmark rate used throughout the world. The SOFR rate is published daily by the Federal Reserve Bank of New York and is based on overnight transactions in the U.S. Treasury repurchase agreement (repo) market.
Thanks to SOFR, Sentinel Security Life Insurance Company is able to offer our clients the potential to earn a rewarding return in a rising rate environment.
The Secured Overnight Financing Rate (SOFR) data is calculated by using data obtained under license through application programming interface (API) issued by CME Group.
CME GROUP MARKET DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN SENTINEL SECURITY LIFE INSURANCE COMPANY PRODUCTS. CME GROUP HAS NO OTHER CONNECTION TO SENTINEL SECURITY LIFE INSURANCE PRODUCTS AND SERVICES AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY SENTINEL SECURITY LIFE INSURANCE COMPANY PRODUCTS OR SERVICES. CME GROUP HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH SENTINEL SECURITY LIFE INSURANCE PRODUCTS AND SERVICES. CME GROUP DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO SENTINEL SECURITY LIFE INSURANCE AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CME GROUP AND SENTINEL SECURITY LIFE INSURANCE COMPANY.
SOFR is a fully transaction-based rate reflecting roughly $1 trillion of daily transactions in a market with a diverse set of borrowers and lenders, including asset managers, banks, broker-dealers, corporate treasurers, insurance companies, money market funds, pension funds, and securities lending agents.
RIDERS:
With the Guaranteed Income Annuity, you are given three different benefit riders to choose from, each designed to help you achieve your retirement goals. Select the rider that best suits your needs.
Perhaps what you are aiming to do with your retirement is provide your funds an opportunity to grow with minimum risk while receiving the benefits of the other riders. If so, we would recommend selecting the Accumulation Benefit Rider. Your Benefit Base interest rate is 175% of interest applied to the Accumulation Value for the first roll-up period of 10 years. This is also the only rider with zero fees!
Effective 6/1/2023
10 Year | |||||||
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Premium Bonus |
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1st Year Rate | 2.75% (with subsequent purchase premium) | ||||||
Current Rate Guarantee | 1 Yrs | ||||||
Index/Benchmark | SOFR | ||||||
Participation Rates | 55% | ||||||
Optional Riders and Cost |
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The Secured Overnight Financing Rate (SOFR) data is calculated by using data obtained under license through application programming interface (API) issued by CME Group.
CME GROUP MARKET DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN SENTINEL SECURITY LIFE INSURANCE COMPANY PRODUCTS. CME GROUP HAS NO OTHER CONNECTION TO SENTINEL SECURITY LIFE INSURANCE PRODUCTS AND SERVICES AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY SENTINEL SECURITY LIFE INSURANCE COMPANY PRODUCTS OR SERVICES. CME GROUP HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH SENTINEL SECURITY LIFE INSURANCE PRODUCTS AND SERVICES. CME GROUP DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO SENTINEL SECURITY LIFE INSURANCE AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CME GROUP AND SENTINEL SECURITY LIFE INSURANCE COMPANY.
10 Year |
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Premium Bonus | GLWB Rider: | 8.00% | |
Legacy Rider: | 10.00% for issue ages under 71 5.00% for issue ages 71-80 3.00% for issue ages 81-85 | ||
Accum Rider: | 10.00% for issue ages under 71 8.00% for issue ages 71-80 6.00% for issue ages 81-85 |
1st Year Rate | 1.00% (with subsequent purchase premium) |
Current Rate Guarantee | 2 Yrs |
Index/Benchmark | LIBOR |
Optional Riders and Cost | GLWB Rider: | 1.25% fee years 1-5, 1.60% fee years 6-10 (10 year contract) | |
Legacy Benefit Rider | 1.25% fee years 1-5, 1.60% fee years 6-10 (10 year contract) | ||
Accumulation Rider | No Fee |