Sentinel Plan Personal Choice 5 Annuity was created with flexibility. Minnesota residents have the opportunity to select which features you want to be added to your base policy – never having to pay for what you won’t use.
Sentinel Security Life’s optional riders eliminate possible Surrender Charges or Market Value Adjustments in certain situations.
You select only the riders that fit your needs – you don’t pay for features you won’t utilize!
Required Minimum Distribution
This rider waives the Surrender Charge and MVA on any Required Minimum Distribution (RMD) from tax-qualified plans.
Terminal Illness/ Nursing Home Care Feature
This rider waives the Surrender Charge if the owner is diagnosed with a stroke, heart attack, life-threatening cancer, or any other terminal illness. This feature also waives any Surrender Charge when the annuitant requires skilled nursing care for more than 90 consecutive days. Age limits and other conditions apply.
72(t) Free Withdrawal
This rider waives the Surrender Charge and MVA associated with withdrawals made in accordance with Internal Revenue Code Section 72(t).
Accumulated Interest Withdrawal
This rider waives the Surrender Charge and MVA associated with accumulated interest withdrawals, starting in the first contract year.
Preferred 10% Free Withdrawal
This rider waives the Surrender Charges and MVA for the first withdrawal per year starting in the second contract year. The owner may withdraw up to the greater of 10% of the account value or the Required Minimum Distribution. Surrender Charges and MVA may apply if there are multiple withdrawals in that contract year or retroactively to all withdrawals if the total of all withdrawals exceeds the greater of that amount in that contract year.
Death Benefit Feature
Required For Issue Ages 86-90 In case of the death of the annuitant or owner, the Death Benefit will be equal to the total contract value. Any Surrender charges and MVA will be waived.
*California & Florida: Death Benefit Rider standard in all Personal Choice & Personal Choice Plus contracts. Terminal Illness Rider not available in any Personal
Choice or Personal Choice Plus contracts. See state-specific Agent Quick Sheet for more info.
**California, Florida & Pennsylvania: Terminal Illness Rider not available in any Personal Choice contracts. See state-specific Agent Quick Sheet for more
Retirement Income Planning
If you’re spending the interest from a CD or a fixed annuity to supplement your retirement income, consider a deferred annuity with a lifetime income rider. These annuities would offer a guaranteed income for life (even if the annuity ran out of money), removing the concern of making your money last in retirement and running out of money.
Some lifetime income riders offer a retirement income that increases to keep up with inflation, help pay for long-term care expenses, and offer an enhanced death benefit to help your beneficiaries.