Oceanview Harbourview Fixed Indexed Annuity


The Harbourview Fixed Indexed Annuity (FIA) Series is offered to individuals seeking both asset protection against stock market volatility and asset growth from potential market gains.

The Harbourview Fixed Indexed Annuity Series is a contract with Oceanview Life and Annuity Company, an AM Best A- rated provider. The Harbourview FIA series offers multiple index crediting strategies designed to capitalize on potential market gains. When market indices grow, the Harbourview FIA contract value will grow but should market indices decline, your account value remains protected from loss.


Harbourview FIA Contract Provides:

  • Growth Potential: You can pursue maximum growth potential based on the performance of external market indices.
  • Access To Funds: After year one, you can access up to 10% of your contract each year, penalty-free.
  • Tax Deferral: The Harbourview series allows for greater growth potential of your contract premium by deferring taxes until you choose to access your money.
  • Premium Protection: Your contract premium is 100% premium protected against market downturns.
  • Wealth Transfer: Full contract value is available to your beneficiaries, penalty-free at death.
  • Guarantees: In addition to the crediting strategies, contract owners can select a fixed interest rate guarantee that is declared annually by Oceanview. 


Nursing Home Confinement

After the first contract anniversary, in the event that the contract owner is confined to a nursing home, any applicable MVA or surrender charges will be waived on any withdrawal. Nursing home confinement is defined as at least 90 consecutive days or at least 90 days if there is no more than a 6-month break in the confinement. Confinement must be prescribed by a qualified physician and medically necessary. Proof must be furnished to the Company during confinement or within 90 days after such confinement.

Terminal Illness

After the first contract anniversary, in the event that the contract owner is terminally ill and not expected to live more than 12 months, any applicable MVA and surrender charges will be waived on any withdrawal. Terminal illness must be diagnosed by a qualified physician after the contract’s issue date. Proof of terminal illness must be provided to the Company

How Will Your Money Grow?

  • Choices: You have multiple strategies (S&P 500-based) to choose from and at the end of each crediting period, the owner can reallocate funds into any available strategy.
  • Interest credit lock-in: Once interest has been credited, it is locked in and cannot be lost due to future market changes.
  • Minimum crediting rate of 1%: Your fixed interest strategy is guaranteed a minimum 1% crediting rate.

Accessing Your Money

Free Withdrawals

Each year after the first contract year, clients may withdraw up to 10% of their contract value (as of the most recent contract anniversary) to provide income. Minimum withdrawal amount: $250. Free withdrawals will not be subject to surrender charges or market value adjustments.

Required Minimum Distributions

Required minimum distributions (RMDs) are mandatory withdrawals from qualified contracts starting at age 73. If you were born before July 1, 1949, your required beginning age for taking RMDs remains age 70 ½. RMDs can begin after year one and are considered a free withdrawal, even if they exceed 10% of the account value. The Harbourview FIA Series can provide an income stream for a term of your choosing, including the rest of your life. Once you elect to receive a guaranteed income stream, the payment schedule and amount cannot be changed.

Settlement Options

  • Life Only:  Equal monthly payments for the annuitant’s remaining lifetime. Payments will end with the payment due just before the annuitant’s death.
  • Life with 10 Year Period Certain: Equal monthly payments for the greater of 120 months or the annuitant’s remaining lifetime.
  • Joint and Last Survivor: This option provides payments during the lifetime of the annuitant and the lifetime of a designated second person. If at the death of the survivor, annuity payments have been made for less than 120 monthly periods, the remaining guaranteed annuity payments will be continued to the beneficiary. 

Death Benefit

A death benefit is payable to the annuity’s beneficiary, if the owner, or the annuitant if the owner is a non-natural person, dies before the annuity payments begin. The amount payable is equal to the accumulation value determined as of the date of death. The death benefit will not be subject to a Market Value Adjustment or Surrender Charges.

Spousal Continuation

This option allows one spouse to continue the other’s contract as the new annuitant. In the event of the death of one spouse, contracts that are jointly owned by spouses or a single-owner contract with a sole spouse beneficiary allow the surviving spouse to assume all rights to the initial agreement. They will have the ability to elect to continue the contract, collect any remaining and all payments and any death benefits and choose beneficiaries, subject to certain conditions. This provision allows for the surviving spouse to maintain a tax-deferred status and secure long-term financial stability.


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