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.*
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 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.
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.
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.
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!