S.USA Life
4.55%
3 Year Term
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company Information
Company Name
S.USA Life
product Name
Select Choice 4 (3) ROP Free Withdrawals
Description
Founded in 1939 S.USA Life Insurance Company, Inc. (“S.USA”), is a leading provider of insurance, annuities, protection and asset accumulation products distributed through banks, independent marketing organizations, managing general agencies and independent insurance agents.
am best rating
A- Excellent (4th of 13 ratings)
Product Type
MYGA
Product description
Fixed annuities are for conservative investors who want safety, security, and guarantees.
You will preserve your principal and earn a fixed rate of return.
You might hear fixed annuities also called CD-like annuities or multiple-year guarantee annuities (MYGA's).
If you are sensitive to loss and don't want to lose a penny, a fixed annuity might be a good fit for some of your savings.
Read our educational articles on fixed annuities to learn more.
Guaranteed Rate Lock Period:
The rate is locked for 45 days from the date of application. If the funds are received after that period the rate might be subject to change and will be the rate in effect at that time.
term
3 yrs
minimum investment
$ 5,000
maximum investment
$ 1,000,000
maximum age
85
withdrawal allowance
Free withdrawals during the contract term are not allowed. Riders can be added at a cost to permit free withdrawals. Otherwise, all money withdrawn will be charged based on the surrender charge schedule. Note that any withdrawals made prior to age 59½ will incur a 10% penalty from the IRS.
what we like
- No surprises because you know what you will earn
- Lower agent commission
- Short 3-year term
- RMD Friendly
what we don’t like
- Market value adjustment may apply on withdrawals
- or -
Guaranteed Returns
Choose an investment amount and we’ll show you how much you can earn.
| YEAR | RATE | EARNINGS | CUMULATIVE EARNINGS | BALANCE |
|---|---|---|---|---|
| 1 | 4.25% | $ ? | $ ? | $ ? |
| 2 | 4.25% | $ ? | $ ? | $ ? |
| 3 | 4.25% | $ ? | $ ? | $ ? |
| Total | $ ? | $ ? | $ ? | |
Surrender Charge Schedule
Surrender charges are a penalty charged to early withdrawals of annuity contract. They are a percentage of the withdrawal amount, decrease over time, and go to zero when the term ends.
percentage charged to withdrawal
market-value adjustment (MVA)
A market value adjustment is basically an additional charge or credit for taking money out early from an annuity.
They allow companies to pay a higher rate and make longer-term investments.
MVAs only affect you if you withdraw funds early. If you own the contract to maturity, they do not apply.
other Information
| phone number | (866) 787-2123 |
|---|---|
| Product brochure |  |
| agent commission | .50-1.25%. We are paid from the insurance company general fund. It is not deducted from your account value. 100% of your money is working for you from day one. We could earn a higher commission based on sales volume and taking a more active role in the application process. |
| LOGIN FOR | sbliusa.com |
| Rate Effective Date | September 30th 2024 |
| premium Type | Single Premium Annuity |
|---|---|
| account Type | Personal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b). |
| Not available in | CT, ND, NH, NY, PR, SD, VI |
| options at maturity | At the end of your contract term, you have 30 calendar days to choose from the following options. 1. Withdrawal any amount free of charges and fees. |
| death benefit provision | If you pass away before the end of your annuity contract, your beneficiaries will receive the accumulated policy value. This value will include all interest you have earned and be passed without any charges or fees. |
| taxes | Annuities typically grow tax-deferred. If you withdrawal money that has never been taxed, withdrawals are 100% taxable. Non-qualified withdrawals have been taxed already, so only interest is taxed. This is called an exclusion ratio. Interest would be taxed, but the principal would not. Please work with a qualified specialist. |
| surrender schedule | 7%, 6%, 5% |
|---|---|
| free-look period | 30 Days |
| RMD | Yes |
| market value adjustment | Yes |
