![]() If you purchase any benefit riders, though, your interest rate will be reduced by a certain amount. Like most fixed indexed products, the Personal Choice Plus+ annuity is devoid of any annual contract fees. To open the Personal Choice Plus+ annuity, you must be no older than 90 years old and have at least $5,000 in investable assets. Accumulated Interest Withdrawal: This opens up the chance for annuitants to withdraw their contract’s accumulated interest value on a fee-free basis.Death Benefit Feature: This rider waives all withdrawal fees that would typically accompany a lump sum death benefit payout to beneficiaries.Preferred 10% Free Withdrawal: Rather than stick to just 10% fee-free withdrawals annually, this rider permits annuitants to take out however much they want for their first withdrawal each year after their second contract anniversary.Required Minimum Distribution: RMDs you initiate won’t encounter any withdrawal fees or MVAs.There are four benefit riders available with this contract, including: Meanwhile, the indexed account increases or decreases in value depending on how the S&P 500 performs. The latter benefit is based on the fact that this product is a fixed indexed contract, meaning annuitants can divide their money between a fixed account and an indexed account.įor the fixed account, your assets will grow based on a predetermined interest rate that Sentinel Security Life sets. The Personal Choice Plus+ annuity takes the Personal Choice annuity a step further, as it provides access to four riders and an increased return potential. ![]() Similar to a certificate of deposit (CD), the Personal Choice annuity from Sentinel Security Life offers better interest rates the longer you lock your money up. ![]() In the event that you withdraw from your contract before age 59.5, the IRS will charge you a 10% income surtax. Beyond this, you’ll adhere to a specific schedule based on the length of the interest rate term you select. The Personal Choice annuity has withdrawal charges, but you can take out as much as 10% of your contract value annually before incurring them.
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