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Select 3 is an individual modified single-premium deferred annuity. Select 3 offers clients competitive interest rates, guaranteed returns, and tax-deferred earnings - all in one simple package.
Product Description
- Three year guaranteed interest rate lock period provides stability.
- The guaranteed minimum interest rate stated on your client's contract, and their earnings, are guaranteed (after the first three years, the guaranteed minimum interest rate will be not be lower than 1 percent) - even if current rates at the time are lower.
- Free annual withdrawals of up to 10 percent of the contract value per contract year provide access (100% access if admitted to a hospital or nursing home for 30 consecutive days or longer and submitted within 60 days of discharge).
- If the contract is surrendered, even prematurely, clients are guaranteed to always receive back what they contributed, less prior withdrawals if they have chosen Guaranteed Return of Purchase Payment at the time of purchase.
- Tax-deferred growth helps clients reach their goals faster thanks to compounding interest and earnings.
- After the first contract year and anytime before their 101st birthday, clients may convert their annuity's accumulated value - with no surrender charges - into a guaranteed income stream.1
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Select 3 Fixed Annuity is available in all U.S. state and the District of Columbia and not available in any U.S. territory.
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