Guaranteed Income Annuity

The Guaranteed Income Annuity can help protect your future from risk while also growing your retirement money. This innovative annuity is designed to guarantee savings that last the entirety of a client’s life, provide a bright future and financial legacy to beneficiaries, or a combination of the two for those not completely sure of their retirement goals. This income driven annuity offers three riders, each addressing a different goal, making it versatile to cater to any retirement plan.

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

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.

Guaranteed Lifetime Withdrawal Benefit Rider*

PREDICTABLE INCOME
If your main goal is to make sure you have a dependable income source for your retirement, this rider is designed for you. The Guaranteed Lifetime Withdrawal Benefit Rider will give you a guaranteed amount of income for your lifetime so that you can have a continual steady stream of money always coming in. This rider helps provide more financial confidence that you will have enough retirement income for your lifetime. This rider is available for a fee.
Not available in all states. Contact an agent or visit www.sslco.com for listings.

Legacy Benefit Rider

LEAVING A LEGACY
Are you looking to leave an additional amount to your beneficiaries? With the Legacy Benefit Rider you place the focus on making sure those you care about are taken care of. Each year on your contract anniversary your Legacy Benefit Base will increase by the interest rates applied to your accumulation value, plus a guaranteed 4% stacked on top. Your death benefit has the potential to grow to 300% of the amount of your purchase payments! This rider is available for a fee.

Accumulation Benefit Rider

CONSISTENT GROWTH

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!

Guaranteed Income Annuity Rates

Effective 6/1/2023

  10 Year
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 below 71
8.00% for issue ages 71-80
6.00% for issue ages 81-85
1st Year Rate 2.75% (with subsequent purchase premium)
Current Rate Guarantee 1 Yrs
Index/Benchmark SOFR
Participation Rates 55%
Optional Riders and Cost
GLWB Rider: 1.25% fee years 1-5
1.60% fee years 6-10
Legacy Benefit Rider: 1.25% fee years 1-5
1.60% fee years 6-10
Accumulation Rider: No Fee

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.

 

Guaranteed Income Annuity Rates

Effective 06/08/2020
10 Year
Premium BonusGLWB 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 Rate1.00% (with subsequent purchase premium)
Current Rate Guarantee2 Yrs
Index/BenchmarkLIBOR
Optional Riders and CostGLWB Rider:1.25% fee years 1-5, 1.60% fee years 6-10 (10 year contract)
Legacy Benefit Rider1.25% fee years 1-5, 1.60% fee years 6-10 (10 year contract)
Accumulation RiderNo Fee

LIBOR​

LIBOR is designed to reflect the short term funding costs of major banks active in London, one of the world’s most important wholesale costs financial markets.
SENTINEL SECURITY LIFE INSURANCE COMPANY IS A MEMBER OF THE A-CAP FAMILY
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Retirement planning can be difficult and confusing, often making you feel left in the dark to find the right path. Seeing this need, Sentinel has worked to light the way to greater financial security for individuals and families since 1948.

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