Sentinel Security Life
Product Details
You have the ability to withdraw cumulative interest you've earned for free, without any surrender charges, starting in the first contract year. Note that any withdrawals made prior to age 59½ will incur a 10% penalty from the IRS.
Year by Year Account Balance
The following is your guaranteed annual account balance, interest accumulation, and free withdrawal provision. Note that any withdrawals actually made would affect the subsequent years' values.
Enter Investment Amount:
| YEAR | RATE | EARNINGS | BALANCE |
|---|
Charges on Withdrawal
For any withdrawals beyond the free allowance during the contract term, surrender charges will apply as follows:
| Year | 1 Year | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|---|
| Percentage | 8.00% | 8.00% | 7.00% | 6.00% | 5.00% |
Personal Choice Annuity (Accumulated Interest Withdrawal)
January 18, 2021
$2,500 - $1,000,000
No banding. All investment amounts receive the same rate.
Personal Investment, Traditional IRA, Roth IRA or SIMPLE IRA
0 - 90
30 days
This is the amount of time you have after the policy is issued to change your mind and get a refund.
This is the amount of time that you have after the application is submitted to fund it and still get the rate in effect at the time of application. Rate lock periods vary by method of funding as follows:
- Qualified Retirement Account: 45 days
- Non-Qualified Personal Savings: 45 days
- 1035 Annuity Exchanges: 45 days
1.5% - 2.8%
We are paid by Sentinel Security Life when you make a purchase. Commission rates are updated periodically and subject to change. In limited instances, Blueprint Income may receive higher compensation than the published commission rates based on achieving a certain level of sales volume or as a result of playing an expanded role in policy processing. This is an indirect cost to you, as it is already factored into the interest rate quoted.
The following riders and features are available for this product. Some might be included automatically, while others are available for purchase. Availability may vary by state.
- Terminal Illness/Nursing Home Care Feature
- 72(t) Free Withdrawal
- Accumulated Interest Withdrawal
- Preferred 10% Free Withdrawal
- Death Benefit Feature Required for Issue Ages 86-90
30 days prior to the end of the contract term, you'll be able to withdraw the money invested without any surrender charges. If you do nothing, any money left in the contract will renew into a new guarantee period of the same term with the rate effective at that time. Money that's withdrawn can be spent, reinvested into another fixed annuity, or turned into guaranteed income via annuitization. If the contract matures before you turn 59½, withdrawals (other than IRA rollovers) will be charged a 10% penalty by the IRS.
Should you pass away before the end of your contract, the surrender value of the annuity, including interest, will be passed to your beneficiary. If the beneficiary is your spouse, he/she can take the accumulated value without surrender charges at the time of death. If the beneficiary is someone other than your spouse, he/she will be able to hold the contract to maturity and then take the accumulated value without surrender charges. An optional Death Benefit rider can be added to allow any beneficiary to take the accumulated value at the time of death without surrender charges.
Annuities receive special tax status as retirement savings vehicles. As such (and unlike with CDs), the interest that you accumulate will be tax deferred until it is withdrawn, even if that’s after the end of the term of the contract. Once withdrawals are made, the following taxable events may occur:
- If funded with personal post-tax savings, only the interest earned will be taxable, and it'll be taxed at ordinary income rates upon withdrawal.
- If funded with Traditional IRA savings, the entire balance (principal + gain) will be taxable upon withdrawal at ordinary income tax rates.
- If funded with Roth IRA savings, no taxes will be charged at withdrawal.