Oxford Life Select 10 Fixed Index Annuity

$10,000.00

Oxford Life’s Select 10 fixed index annuity is a 10-year retirement savings plan designed to grow based on the S&P 500 index performance while protecting your principal and generating an income you can never outlive. 

The Oxford Life Select 10 Fixed Indexed Annuity is a 10-year retirement savings plan designed to help:

 

Benefits and Features

Protected Principal

This product offers you the opportunity to participate in any positive movement in the change in the S&P 500 Index, excluding dividends, without having to be invested in the market and being exposed to the risk of losing principal.

If the change in the S&P 500 index is negative, your principal will not be impacted by this change.

Tax-Deferral

Tax-deferred growth allows your money to grow faster, thanks to triple compounding. Money placed in an annuity provides for:

  • Interest on your principal
  • Interest on your interest
  • Interest on your tax savings

Because your interest is free from current income tax, that interest can continue to compound instead of being reduced by tax payments on that interest.

 

Death Benefit

Oxford Life Insurance Company will pay out, as the Death Benefit, the Accumulation Value to your beneficiary upon the death of the Owner. Your beneficiary may choose to receive the payments in either a lump sum or a series of income payments.

Oxford Life Insurance is another option if you’re wanting to leave a death benefit to your beneficiaries, tax-free.

 

3 Account Crediting Strategies

The Fixed Account Strategy

Under the fixed account strategy, amounts credited to your Accumulation Value are based on a stated interest rate declared each policy anniversary. That rate is guaranteed for one year and will not be less than the guaranteed minimum interest rate stated in your Policy. The interest earnings are credited daily.

The Monthly Average Strategy

The monthly averaging strategy will credit interest to your Accumulation Value by measuring the index change by comparing the average of the monthly closing S&P 500 values during the term to the closing S&P 500 value on the first day of that term, subject to a Cap Rate.

The Cap Rate is the upper limit of amounts that will be credited from the change in the S&P 500 Index. The Cap Rate will be declared on each Policy Anniversary.

Each Policy Year, the annual reset feature provides for a new starting point to measure the change in the S&P 500 Index values, excluding dividends.

The Annual Point-to-Point Strategy

The annual point-to-point strategy will credit interest to your Accumulation Value by measuring the index change by comparing the closing value of the S&P 500 during the term to the closing value of the S&P 500 value on the first day of that term, subject to a Cap Rate.

The Cap Rate is the upper limit of amounts that will be credited from the change in the S&P 500 Index. The Cap Rate will be declared on each Policy Anniversary.

Each Policy Year the annual reset feature provides for a new starting point to measure the change in the S&P 500 Index values, excluding dividends.

 

 

Liquidity Features

Withdrawing Money

It is comforting to have the ability to access your money since you can never predict the future. After the first year, the Oxford Life Select 10 Indexed Annuity allows for annual, penalty-free withdrawals of up to 10% of your Accumulation Value as of the end of the previous Policy Year.

Surrender Charges

For amounts greater than the 10% penalty-free withdrawal amount during a policy year, there will be a surrender/withdrawal charge applied during the first ten years. The surrender/withdrawal charge is 10% in the first policy year and then reduces by 1% each policy year thereafter.

Market Value Adjustment

The Oxford Life Silver Select annuity includes a Market Value Adjustment, which generally allows Oxford Life to credit rates higher than on those products without an interest adjustment.

This adjustment may increase or decrease your surrender value, depending on the change in interest rates since your annuity purchase.

Due to the mechanics of a Market Value Adjustment feature, the cash surrender value generally increases as interest rates fall.

Likewise, when interest rates have increased over a period of time, the surrender value generally declines.

The Market Value Adjustment is applied only during the surrender/withdrawal charge period and only on amounts that exceed the penalty-free withdrawal amount.

Market Value Adjustments on any portion of IRS-Required Minimum Distributions (RMD) in excess of the penalty-free withdrawal amount are waived.

Waiver of Surrender/Withdrawal Charges

Terminal Illness Benefit

If you are first diagnosed as terminally ill more than one year after the policy date, you may surrender/withdraw this policy for its Account Value without reduction for any surrender/withdrawal charge.

Home Health Care Benefit

If you are first diagnosed as chronically ill more than one year after the policy date, are receiving home health care, and have been for the previous 90 days, you may request surrender/withdrawals from this policy without reduction for any surrender/withdrawal charge.

Nursing Home Benefit

If you are first diagnosed as chronically ill more than one year after the policy date, are confined to a nursing home, and have been for the previous 90 days, you may request surrender/withdrawals from this policy without reduction for any surrender/withdrawal charge.

 

 

Guaranteed Income For Life

How you can benefit from the GLWB

In exchange for an annual cost, the Guaranteed Lifetime Withdrawal Benefit (GLWB) offers a flexible alternative that will provide a steady income stream that you cannot outlive. This benefit was designed for people age 50 to 80 who are interested in guaranteed income during their retirement while allowing for some liquidity.

Income Account Value

The Income Account Value is used in determining your GLWB payment amount.

Prior to withdrawals, under the GLWB or base Policy, the Income Account Value equals 100%of your initial premium.

This amount then grows at a guaranteed rate of 7.55% for the first 10 Policy Years.

Any withdrawals or surrenders will reduce both the Accumulation Value and the Income Account Value proportionately.

The Income Account Value is only used as the base for calculating your Guaranteed Lifetime Withdrawal Benefit payments.

The Income Account Value is not available for Death Benefits or other withdrawals from the policy.

Guaranteed Lifetime Withdrawal Benefit Payments

When you initially elect to begin GLWB payments, your annual payment will be based on your current Income Account Value multiplied by a percentage based on your attained age.

GLWB payments can be started and stopped at any time and you can decide how frequently you receive your GLWB payments: monthly, quarterly, semi-annually, or annually.

If an IRS mandated Required Minimum Distribution (RMD) is required, you will be able to take the greater of the GLWB payment or the RMD without surrender charges.

Guaranteed Lifetime Withdrawal Benefit Payout Factors

A GLWB payout factor percentage is used to calculate your annual GLWB payment.

When you initially elect to begin GLWB payments, your annual payment will be based on your Income Account Value multiplied by the payout factor percentage based on your attained age.

Prior to electing your GLWB, your payout factor percentage will increase each year you age.

In the case of Joint Spousal Owners, the age of the younger Owner will be used to determine the Joint Life Payout Factor percentage.

Once you start withdrawals, your payout factor percentage is locked in for your life.

Annual Payment Increase

On each Policy Anniversary following your election to begin GLWB payments, we will multiply the original GLWB payout factor by the current Accumulation Value of your annuity.

If the resulting calculation equals an annual payment higher than you are currently receiving, you will receive this higher payment going forward. You must notify us if you do not want us to increase the amount of your payment.

Excess Withdrawals

Withdrawals in excess of the GLWB will cause future GLWB payments to be reduced by the same proportion that the Accumulation Value is reduced by the excess withdrawals.

GLWB payments will stop if excess withdrawals, withdrawal charges, or Market Value Adjustments reduce the Accumulation Value to zero.

Spousal Continuation

If the owner’s spouse is the sole primary beneficiary and elects to continue the Policy, the benefits of the GLWB will also continue, provided the spouse becomes the sole annuitant and sole owner of the Policy.

If the spousal beneficiary assumes the Policy before any GLWB withdrawals have been taken, the benefit simply continues in the accumulation period.

Spousal continuation does not restart the withdrawal charge schedule.

If a GLWB has been taken by the time of the spousal continuation, the spouse can elect to receive a GLWB until the Income Account Value is equal to zero, at which time the withdrawals stop and the Policy will terminate, or continue to receive a GLWB for the surviving spouse’s remaining lifetime, if the owner elected a joint lifetime payout.

 

 

Minimum Premium

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Enhanced Benefits

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Taxes

Non-Qualified Annuity

Non-qualified funds are cash, checking, savings, life insurance cash value, etc. Only the interest you’ve earned will be taxed as ordinary income as you withdraw money.

Qualified Annuity

Qualified funds are 401k, IRA, SEP, 403b, TSA, etc. Both principal and interest will be taxed as ordinary income as you withdraw money.

Roth IRA Annuity

Withdrawals from Roth IRA annuities are tax-free as long as the IRS requirements are met.

Early-Withdrawals

If you withdraw money from your annuity before you turn age 59.5, you will receive a penalty of 10% plus ordinary income taxes from the IRS.

 

For more information:  How Are Annuities Taxed?

About Oxford Life

Oxford Life Insurance Company
2721 North Central Avenue
Phoenix, Arizona 85004
Policyholders: (800) 308-2318
Agents: (800) 308-2318

 

Financial Strength

  • A.M. Best: “A” (Excellent)

Brochures

Oxford Life Select Series Fixed Index Annuity

Disclaimer*Brochures may vary by state.  For the most accurate information, please request info in the Request Quote form.

Are Annuities FDIC Insured?

Fixed annuities are not FDIC insured, but they have similar protections for your money. An annuity is an insurance policy guaranteed by the insurance company’s claims-paying ability. The insurance companies are members of the state insurance guarantee associations in each state where they do business. Each state insurance guarantee association protects consumers in the unlikely event that their insurance company fails and defaults on their obligations to their consumers (limits vary per state).

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