Guaranteed Income Annuity
The Guaranteed Income Annuity was designed to help retirees plan for a more secure financial future for themselves and their loved ones.
If you are interested in protecting your retirement assets from market risk while allowing them to grow, providing a legacy for your loved ones, or creating a stream of income that is guaranteed for your lifetime, then the Guaranteed Income Annuity may be a good option to help you achieve your retirement and financial goals.*
- Retirement Protection with Minimal Risk
- Guaranteed Income for Life
- Additional First Year Premiums
- Premium Bonus of Up to 10%
- 10 Year Contract
- Flexible Issue Ages
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.
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.
* Subject to all terms and conditions of the contract.
Guaranteed Lifetime Withdrawal Benefit Rider
Legacy Benefit Rider
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 250% (varies by state) of the amount of your purchase payments! This rider is available for a fee.
Accumulation Benefit Rider
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 6/26/2023
| 10 Year | |||||||
|---|---|---|---|---|---|---|---|
| Premium Bonus |
|
||||||
| 1st Year Rate | 2.75% (with subsequent purchase premium) | ||||||
| Current Rate Guarantee | 1 Yr | ||||||
| Index/Benchmark | SOFR | ||||||
| Participation Rates | 55% | ||||||
| Optional Riders and Cost |
|
Interest rates are subject to change without notice. Quoted rates may vary due to state regulations and taxes. Products, features, and riders may not be available in all jurisdictions. Refer to the policy for all terms and conditions. All Guarantees are based on the claims-paying ability of Sentinel Security Life Insurance Company.
***Credits to the Income Account only.
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
| 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 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 | ||
LIBOR
Contact Us
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Home Office
1405 W 2200 S, Salt Lake City, UT 84119, United States - 1-800-247-1423
- 1-888-433-4795
