Security Benefit Strategic Growth Annuity Review

The hypothetical historical performance provided herein showcases the annualized return of allocation strategies, representing the investment's annual growth rate considering compounding effects. Similar analyses can be found for each account in official fixed index annuity illustrations provided by insurance carriers.

What's not reflected:
The annualized return does not encompass rider charges, strategy fees, or applicable premium bonuses.

Notes on rates:
The information presented assumes the annuities' current caps, spreads, participation rates, and other related rates, without guarantee.

No guarantees:
These actual elements are subject to change over time, resulting in potentially higher or lower outcomes. Additionally, no single index consistently outperforms in every scenario. It is advisable to consult with a properly licensed and educated annuity professional before making any decisions.

SBL doesn’t charge any additional fees for this annuity unless you choose an income rider. 

This annuity provides a choice of several index options to align with your financial goals, and these include:

Crediting methods are mathematical formulas that calculate the amount of indexed interest an annuity earns based on changes in the index during the 'crediting period.’ When it comes to Security Benefit Strategic Growth Annuity, you can choose from the following crediting strategies:

It’s a standard among annuity providers to charge penalties on early withdrawals from annuity contracts. These penalties are known as annuity surrender charges, which are a percentage of the withdrawal amount that decreases gradually to zero by the end of the term. The story is no different for the SBL Strategic Growth Annuity. 

The Strategic Growth Annuity from Securit Benefit Life Insurance offers several interesting features, including a Market-Value Adjustment (MVA), Rate Lock, and Rate Buy-Up feature. 

• Market Value Adjustment (MVA) is applied to any withdrawals that exceed the Free Withdrawal amount, to full surrenders, or to the death benefit paid upon the death of a Joint Owner who is not the spouse of the Annuitant.
• MVA doesn’t apply to contracts issued in California.
• MVA only applies to annuity beneficiaries who want to withdraw their funds early - if you wait for your contract’s maturity date, the company won’t charge MVA fees. 

• SBL will lock the most favorable caps, spreads, and rates for the Interest Crediting options, choosing between those available at the time the application is received or when the contract is issued.
• The rate lock is conditional on the paperwork being in order and submitted within a 60-day window.

• This feature can enhance the contract value allocated to each Index Account, potentially resulting in a higher interest credit rate through increased caps, participation rates, or reduced spreads. 
• At the end of the surrender charge period, if the total costs from opting for this feature exceed the accumulated index interest credits (including those from non-buy-up options), the surplus will be refunded to the contract’s Fixed Account. 
• This refund does not apply if there is an excess withdrawal from the contract (defined as a withdrawal that surpasses the annual free withdrawal limit).

Overall, if you are looking for a powerful way to grow your assets, while also having protection from the dangers of the stock market, Security Benefit’s Strategic Growth Annuity may be worth the look. 

Very high participation rates on a great-performing index give you the chance to grow your money for a happy retirement. However, if you are looking for the best way to guarantee sources of income for life or some extra security when it comes to long-term care, there may be better options for you.