EquiTrust Certainty Select 8 Annuity Review
EquiTrust's Certainty Select 8 annuity is a fixed deferred annuity that provides compounded, tax-deferred growth. Your annuity will grow at a fixed interest rate that is determined at contract issue. EquiTrust also offers a 10 year rate guarantee, a 6 year rate guarantee, a 5 Year rate guarantee, and a 3 year rate guarantee.
Certainty Select Annuity Highlights:
- This annuity offers penalty-free interest withdrawals.
- There are no fees, loads, or sales charges.
- Your contract has no stock market exposure.
- Click to read the Certainty Select company brochure.
Frequently Asked Questions About the Certainty Select Annuity:
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 10% and decline to 0% after the 8th year. The schedule is 10%, 10%, 9%, 9%, 8%, 8%, 7%, 7%.
Q: Are penalty-free withdrawals available? A: Yes. You can withdraw the cumulative interest earned at any time without Surrender Charge or MVA.
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 8 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 8 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.
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:$10,000.
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 Certainty Select 8 available? A: The Certainty Select 8 annuity is not available in all states. Call 800-872-6684 to find out if it's available in your state.
To review the Certainty Select annuity with an agent or to receive a free personalized illustration call 800-872-6684 or fill in the "Get My Free Quote" form in the upper right section of this page.
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