Sammons Retirement Solutions
4.50%
3 Year Term
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company Information
Company Name
Sammons Retirement Solutions
product Name
LiveWell Guarantee Max 3
Description
Sammons Retirement Solutions is a distributor of mutual funds, IRA's and annuities for individuals. They are based in West Des Moines, IA. Sammons Retirement Solutions products are sold through a national network of brokers, agencies, and other financial professionals. They design products that help you live well and retire well.
am best rating
A+ Superior (2nd 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
$ 20,000
maximum investment
$ 1,000,000
maximum age
90
withdrawal allowance
Starting in year two, you can withdraw credited interest only.
what we like
- No surprises because you know what you will earn
- Lower agent commission
- Interest Withdrawals
- Above average ratings
- Short 3 Year Term
- RMD Friendly - The company will waive the surrender charge to satisfy an RMD distribution
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 | 4.20% | $ ? | $ ? | $ ? |
| 2 | 4.20% | $ ? | $ ? | $ ? |
| 3 | 4.20% | $ ? | $ ? | $ ? |
| 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
| fitch rating | A+ Strong (5th of 21 ratings) |
|---|---|
| S&P rating | A+ Strong (5th of 21 ratings) |
| phone number | (855) 624-0201 |
| Product brochure |  |
| agent commission | 0.63- 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 | Srslivewell.com |
| Rate Effective Date | September 13th 2024 |
| premium Type | Single Premium Annuity |
|---|---|
| account Type | Personal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b). |
| Not available in | NY, PR, VI |
| options at maturity | At the end of the contract term, you’ll have a 30-day window during which you can withdraw 100% of the account balance. The insurance company will usually mail you a letter and offer a new rate to entice you to keep the funds with them. You can accept their offer and keep the funds with them. If you don’t like their rate, you can withdraw 100% of the funds, transfer the balance to another annuity/provider, or annuitize it and turn it into a guaranteed income stream. An IRA annuity can be transferred to any IRA custodian (bank, brokerage, annuity). Warning: If you do nothing, your annuity will auto-renew for the same term with the rate effective at that time. |
| 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 | Unlike bank CDs, the interest you earn in an annuity grows tax-deferred. The taxation will vary depending on the type of account you own. Non-qualified annuities are funded with after-tax money from checking, savings, taxable brokerage accounts, etc.. Only the interest earned will be taxable at ordinary income when withdrawn from the annuity. Annuities funded by a Traditional or “pre-tax” IRA will be 100% taxable distributions. Both the principal and interest will be taxed as ordinary income. IRAs are already tax-deferred, so the annuity does not add an extra tax benefit. Annuities funded by a Roth IRA will not be taxed at withdrawal. |
| surrender schedule | 9%, 8%, 7% |
|---|---|
| free-look period | 30 Days - This is the number of days you have after your policy has been delivered to change your mind and get a refund. |
| RMD | Yes |
| market value adjustment | Yes |
