Why should you consider Sage Select Fixed Indexed Single-Premium Deferred Annuity? Saving wisely for the future requires diversity.
Traditional savings plans may guarantee a principal and a fixed rate of return. Investments such as mutual funds offer greater potential returns but also a greater risk of market volatility and loss of principal.
Sagicor’s Sage Select Fixed Indexed Single Premium Deferred Annuity (Sage Select FIA) provides an opportunity to benefit from index-linked crediting rates while protecting your premium and credited interest when the market is down.
- 4% Bonus on the single premium (100% vested day 1)
- Indexed linked crediting rate provides the opportunity for growth and protection from a downturn in the market
- Control and access to your money for emergencies and opportunities through withdrawals
- Distinct and globally diverse index choices
- Available from age 15 days to 85 years (Applies to both Owner and Annuitant)
- $2,000 minimum premium (Qualified and Non-Qualified)
Interest Crediting Options
Sagicor’s Sage Select FIA offers three distinct crediting strategies for diversification.
You can transfer or change interest crediting strategies at the end of each 1-year term period, subject to contract provisions.
- DECLARED RATE STRATEGY; 1-YEAR TERM: Fixed interest rate declared by Sagicor is guaranteed for one year.
- S&P 500 INDEX STRATEGY; 1-YEAR TERM WITH CAP: One-year point-to-point indexed strategy linked to the S&P 500 Index.
- GLOBAL MULTI-INDEX STRATEGY; 1-YEAR TERM WITH PARTICIPATION RATE: One-year point-to-point indexed strategy that utilizes the S&P 500, Euro Stoxx 50, and Hang Seng indices.
Indices Offered
S&P 500 Index: Standard and Poor’s 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure the performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
EURO STOXX 50 Index: An index of 50 leading European companies. The index provides a bluechip stock representation from those countries participating in the European Economic and Monetary Union. Each component’s weight is capped at 10% of the index’s value to avoid single stock domination.
Hang Seng Index: An index of 48 of the largest companies listed on the Hong Kong stock exchange. It is a free float-adjusted capitalization-weighted index of companies with a 15% cap to avoid single stock domination.
Features & Benefits
- PREMIUM BONUS: A 4% bonus (100% vested day 1) is automatically added to the single premium paid at issue.
- DIVERSIFICATION: Select from allocation options with a distinctive and globally diverse choice of index strategies.
- ACCOUNT VALUE PROTECTION: The index-linked interest that is credited to you will never be less than 0%. This means a downturn in the market index cannot decrease your account values.
- WITHDRAWALS: Withdrawals are allowed at any time and may be subject to a surrender charge.
- PENALTY FREE WITHDRAWALS: Beginning in the second contract year, you may withdraw up to 10% each year of the account value without a surrender charge. If the 10% is not withdrawn, it will be cumulatively added to the next year’s maximum free withdrawal percentage, up to 50%. Under the Penalty-Free Withdrawal provision, if you qualify for the nursing home facility or confined care facility benefit, you can withdraw 100% of the contract value without a surrender charge. This provides you with peace of mind knowing that you have full access to your money at a time when you may need it most.
- GUARANTEED MINIMUM WITHDRAWAL BENEFIT: Each year, between contract years 13 through 32, we will calculate a withdrawal that you may take during the year. You are not required to withdraw this amount and any unused amount will be applied to the following year. You will be entitled to withdraw this amount even if it exceeds the account value.
- ANNUITIZATION/PAYOUT OPTIONS: There are several options for guaranteed income such as a fixed payment amount, payments for a fixed number of years, or payment guaranteed for life.
- TRANSFERS/REALLOCATIONS: Transfers among the crediting options are permitted at the end of each 1-year term period.
- FREE-LOOK PERIOD: If the contract is canceled within 30 days after delivery your premium paid less any withdrawals and surrender charges will be refunded. Any bonus credited will not be refunded.
- CHARGES: No front end charges or annual fees.
- TRIPLE TAX DEFERRED GROWTH: Your ability to earn interest is compounded because:
- Your premium and bonus will earn interest
- Your earnings on the premium and bonus will earn interest
- The money that would go to pay taxes stays in your account and earns interest
- You do not pay taxes on your earnings until the money is paid out to you.
