Advanced Choice Annuity 4-Year
Status:
Active
Group:
Security Benefit
Product Type:
Fixed Annuity
Product Status:
Only Proprietary
Version:
0
Inception Date:
August 21, 2025
Closed Date:
Last Modified:
August 26, 2025 00:00
Description:
The Advanced Choice Annuity 4-Year is a single premium deferred annuity with a market value adjustment. The minimum initial contribution is $10,000 for non-qualified and qualified money. Surrender schedules vary by interest rate guarantee period chosen and are waived in the event of death, entrance into a nursing home, or diagnosis of a terminal illness. There is an annual 10% free withdrawal of the contract value available after the first policy year. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. There is a 30-day window after the end of the withdrawal charge period associated with a guarantee period which allows access to part or all accumulated funds without MVA (varies by state) or surrender charges. However, if no action is taken, the account value will be transferred to an Annual Interest Renewal Account and will not be reallocated to the guarantee period previously selected. No surrender charges or MVA apply to account value allocated to this account. For contracts issued in FL, once account value has been allocated to the Annual Interest Renewal Account, it cannot be allocated to a guarantee period, even when the Annual Interest Renewal Account 1-year term ends. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC. The Free Look period may vary by state.
Fee Based:
No
Free Look:
Yes
Plan Types:
401 (k), 403 (b), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Spousal IRA, 401 (a)
Premium Types:
Single
States Available:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, KS, KY, IN, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
States Exception:
BERMUDA, GU, NY, PR, VI
Version Note:
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 22 Aug 2025 |