Upstream Life

2.20%
5 Year Term
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company Information

Company Name

Upstream Life

product Name
Secure Legacy 5
Description
Upstream Life Insurance Company, formerly known as Financial Assurance Life Insurance Company, was founded in 1912. The company was re-branded Upstream Life when it was acquired by Upstream Holdings in 2016. Upstream Life provides life insurance and annuity products to individuals looking to secure their financial future and avoid the financial risks typically associated with financial markets.
am best rating
B++ Good (5th 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
5 yrs
minimum investment
$ 10,000
maximum investment
$ 1,000,000
maximum age
80
withdrawal allowance
There is an opportunity each year to take a withdrawal of up to the interest credited that contract year penalty-free.

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*Please provide an investment amount before applying.

Guaranteed Returns

Choose an investment amount and we’ll show you how much you can earn.

$
Should be at least $10,000
The maximum investment is $1,000,000
The field is required.
YEARRATEEARNINGSCUMULATIVE EARNINGSBALANCE
12.20%$ ?$ ?$ ?
22.20%$ ?$ ?$ ?
32.20%$ ?$ ?$ ?
42.20%$ ?$ ?$ ?
52.20%$ ?$ ?$ ?
Total$ ?$ ?$ ?

Enter an investment amount to calculate your earnings and account balance over the life of the contract.

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

Year
Percentage
1
10%
2
9%
3
8%
4
7%
5
6%
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(877) 346-1607
Product brochure
agent
commission
1.5-2.40%. 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.
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Rate Effective DateJune 15th 2021
premium TypeSingle Premium Annuity
account TypePersonal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b).
Not available inThis product is only available in the following states (AR, AZ, CO, DC, ID, IL, IN, LA, MD, MS, MT, ND, NE, NM, OH, SD, TN, TX, UT, WV, WY).
options at
maturity

30 Days prior to the end of your contract term, you will have the option to choose from the following.

1. Withdrawal any amount free of charges and fees.
2. Reinvest it into another fixed annuity.
2. If you do nothing, the contract renews for the same term and rates effective at that time.

death benefit provisionIf you pass away before the end of your annuity contract, your beneficiaries will receive the cash surrender value. The cash surrender value includes a possible surrender charge and market value adjustment. A death benefit rider does exist so that your beneficiaries will receive the full account value without any charges or fees. The rider is required for ages 81+ and the cost of the rider is .25% basis points.
taxesAnnuities 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
10%, 9%, 8%, 7%, 6%
free-look periodN/A
RMDYes
market value adjustmentYes
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