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Atlantic Coast Life Safe Haven 10 Annuity
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5.25% Effective Annual Rate
- 10 Years Surrender Fee Period (Duration).
- Rate is average over duration. First year rate higher than subsequent years.
- Rate Differs in the Following States: FL (5.15%)
- Offers penalty-free interest withdrawals with the purchase of a rider.
- No Loads, Fees, or Sales Charges
- No Stock Market Exposure
- Not Available in the Following States: AK, CA, CT, DC, ID, KS, ME, MI, MN, MT, NH, NJ, NY, PA, WA, WI, WY
- Maximum Age at Issue (Purchase) is 90
Q: Does the interest compound? A: Yes.
Q: Is the interest taxed? A: The interest you leave in the account grows tax-deferred until you withdraw it. That interest is not taxed within the annuity. This is an advantage over interest you earn on a bank CD which is taxed each year even if you leave it in the CD.
Q: Are there any fees? A: No. There are no upfront sales charges or ongoing maintenance fees.
Q: Is it FDIC insured? A: No. FDIC insurance is only for bank deposits. Fixed annuities are guaranteed by the issuing insurance company.
Q: What are the early surrender charges? A: The early surrender charges only apply to withdrawals which are greater than the penalty free amount. If surrender charges apply, they start at 9% and decline to 0% after the 10th year. The schedule is 9%, 8%, 7%, 6%, 5%, 5%, 5%, 5%, 5%, 5%.
Q: Are penalty-free withdrawals available? A: Yes. You can purchase one of two riders which allow for penalty free withdrawals. You can either purchase a rider which allows you take to your accumulated interest penalty free, or one which allows you to take a 10% annual penalty-free withdrawal. See below for rider costs.
Q: If I withdraw more than the penalty-free amount, will a Market Value Adjustment (MVA) be applied? A: Yes. You can read more about market value adjustments here.
Q: What happens after the initial 10 year rate guarantee period? A: You have a 30 day window to do whatever you want with the full cash value any penalties. You can remove all of it or let your cash balance roll over into a new 10 year rate guarantee period.
Q: What happens to the money in my account if I die? A: Your beneficiaries will receive the full account value minus any surrender charges and market value adjustments that may apply. These charges may be avoided by adding the Death Benefit Rider which will reduce the interest rate by 0.25%
Q: Does the Safe Haven 10 Annuity have any available riders?
A:Yes. For each optional rider the interest rate is reduced as follows:
|Save Haven Annuity Optional Riders|
|Accumulated Interest Withdrawal||0.05%|
|Preferred 10% Free Withdrawal||0.15%|
|Death Benefit Feature||0.25%|
Q: How do I apply? A: Start by calling 800-872-6684 or fill in the "Get My Free Quote" form in the upper right section of this page.
Q:What is the minimum premium I need to pay? A:$5,000.
Q:Are there any age restrictions? A:Yes. You can purchase this annuity up to age 90. In some states the age requirements may differ.
Q:In which states is the Safe Haven 10 available? A: The Safe Haven 10 annuity is not available in all states. Call 800-872-6684 to find out if it's available in your state.