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Whether taking off for a long weekend or looking farther down the road to a comfortable retirement, you start by answering a simple question: What do I do now to take me where I want to be later? The SPDA-3 Annuity is an ideal choice if you value the stability of an interest rate guarantee and policy options that put you in control of your future income.
Start this important journey wisely, by choosing a tax-deferred, interest-bearing investment with a 3-year guaranteed rate, outstanding death benefits and no front-end loads or policy fees.
Interest Rate Guaranteed for 3 years
Issue Ages 0-85 (age of last birthday)
Minimum Premium $50,000 qualified or non-qualified
Monthly Interest Option Available after 30 days
Withdrawal Privileges 10% FREE withdrawals. Policyowners may withdraw up to 10% of the accumulated contract value each year after the first year, without a withdrawal charge.
Interest Rate Lock Qualifies for interest rate lock for 45 days on incoming transfers from other financial institutions.
Withdrawal Charges If a policyowner is required to take a Required Minimum Distribution (RMD) on a tax-qualified annuity, the withdrawal charges are waived on any RMD amount that exceeds the 10% free withdrawal provision. (RMD distributions are included in the 10% free withdrawal amount.) Any withdrawal requested in excess of that allowed under one of the penalty-free withdrawal options is subject to the following withdrawal charges, which can vary slightly by state*.
| Contract Year | 1 | 2 | 3 |
| Withdrawal Charge | 9% | 8% | 7% |
No MVA Withdrawal charges are waived in the event of the annuitant’s death. Withdrawal charges apply at the death of a non-annuitant owner, if death occurs during the withdrawal charge period.
Annuitization Available after 12 months for five years or longer.
Acknowledgement of Delivery Required with all cases.
Suitability Form Required with all cases at the time of application.
Ideal For Tax-Qualified Rollover Plans For example, IRA, SEP. 403(b), etc. (Inherited and Stretch IRAs are not available with Bankers.)
Nursing Care Waiver If a covered condition occurs to the annuitant, the policyowner may withdraw up to 50% of accumulated contract value without a withdrawal charge. A covered condition is defined as confinement in a Residential Care Facility or Skilled Nursing Facility for at least 90 consecutive days. The contract must be in force for at least 90 days to be covered.
Annuity is underwritten by Bankers Life Insurance Company, which is the only entity financially obligated under the annuity. This annuity has limitations that may not be described here. For costs and complete details of the annuity, contact Bankers Life Insurance Company. Annuity form not available in all states. Approval does not imply endorsement of any insurer or product. Bankers and its representatives do not give legal or tax advice. This content reflects our understanding of tax rules and regulations in effect at the time of publication. Taxes must be paid on deferred earnings when accessed. You may be responsible for income taxes on amounts withdrawn, including a 10% penalty for withdrawals prior to age 591/2. In Texas, Bankers Life conducts business as Western Bankers Life Insurance.)
Whether taking off for a long weekend or looking farther down the road to a comfortable retirement, you start by answering a simple question: What do I do now to take me where I want to be later? The SPDA-5 Annuity is an ideal choice if you value the stability of an interest rate guarantee and policy options that put you in control of your future income.
Start this important journey wisely, by choosing a tax-deferred, interest-bearing investment with a 5-year guaranteed rate, outstanding death benefits and no front-end loads or policy fees.
Interest Rate Guaranteed for 5 years
Issue Ages 0-85 (age of last birthday)
Minimum Premium $10,000 qualified or non-qualified
Monthly Interest Option Available after 30 days
Withdrawal Privileges 10% FREE withdrawals. Policyowners may withdraw up to 10% of the accumulated contract value each year after the first year, without a withdrawal charge.
Interest Rate Lock Qualifies for interest rate lock for 45 days on incoming transfers from other financial institutions.
Withdrawal Charges If a policyowner is required to take a Required Minimum Distribution (RMD) on a tax-qualified annuity, the withdrawal charges are waived on any RMD amount that exceeds the 10% free withdrawal provision. (RMD distributions are included in the 10% free withdrawal amount.) Any withdrawal requested in excess of that allowed under one of the penalty-free withdrawal options is subject to the following withdrawal charges, which can vary slightly by state*.
| Contract Year | 1 | 2 | 3 | 4 | 5 | 6 |
| Withdrawal Charge | 9% | 8% | 7% | 6% | 5% | 0% |
No MVA Withdrawal charges are waived in the event of the annuitant’s death. Withdrawal charges apply at the death of a non-annuitant owner, if death occurs during the withdrawal charge period.
Annuitization Available after 12 months for five years or longer.
Acknowledgement of Delivery Required with all cases.
Suitability Form Required with all cases at the time of application.
Ideal For Tax-Qualified Rollover Plans For example, IRA, SEP. 403(b), etc. (Inherited and Stretch IRAs are not available with Bankers.)
Nursing Care Waiver If a covered condition occurs to the annuitant, the policyowner may withdraw up to 50% of accumulated contract value without a withdrawal charge. A covered condition is defined as confinement in a Residential Care Facility or Skilled Nursing Facility for at least 90 consecutive days. The contract must be in force for at least 90 days to be covered.
Annuity is underwritten by Bankers Life Insurance Company, which is the only entity financially obligated under the annuity. This annuity has limitations that may not be described here. For costs and complete details of the annuity, contact Bankers Life Insurance Company. Annuity form not available in all states. Approval does not imply endorsement of any insurer or product. Bankers and its representatives do not give legal or tax advice. This content reflects our understanding of tax rules and regulations in effect at the time of publication. Taxes must be paid on deferred earnings when accessed. You may be responsible for income taxes on amounts withdrawn, including a 10% penalty for withdrawals prior to age 591/2. In Texas, Bankers Life conducts business as Western Bankers Life Insurance.)
Begin your investment journey by choosing the right direction. With the SPDA-7 tax-deferred, interest bearing annuity, you'll enjoy a 7-year guaranteed rate. Unlike a CD, your principal earns interest, your interest earns interest and the money you would have paid in tax earns interest.
Interest Rate Guaranteed for 7 years
Issue Ages 0-85 (age of last birthday)
Minimum Premium $10,000 qualified or non-qualified
Monthly Interest Option Available after 30 days
Withdrawal Privileges 10% FREE withdrawals. Policy Owners may withdraw up to 10% of the accumulated contract value each year after the first year, without a withdrwal charge.
Interest Rate Lock Qualifies for interest rate lock for 45 days on incoming transfers from other financial institutions.
Withdrawal Charges If a Policy Owner is required to take a Required Minimum Distribution (RMD) on a tax-qualified annuity, the withdrawal charges are waived on any RMD amount that exceeds the 10% free withdrawal provision. (RMD distributions are included in the 10% free withdrawal amount.) Any withdrawal requested in excess of that allowed under one of the penalty-free withdrawal options is subject to the following withdrawal charges, which can vary slightly by state*.
| Contract Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Withdrawal Charge | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 0% |
No MVA Withdrawal charges are waived in the event of the annuitant’s death. Withdrawal charges apply at the death of a non-annuitant owner, if death occurs during the withdrawal charge period.
Annuitization Available after 12 months for ten years or longer.
Acknowledgement of Delivery Required with all cases.
Suitablility Form Required with all cases at the time of application.
Ideal For Tax-Qualified Rollover Plans For example, IRA, SEP. 403(b), etc. (Inherited and Stretch IRAs are not available with Bankers.)
Nursing Care Waiver If a covered condition occurs to the annuitant, the policyowner may withdraw up to 50% of accumulated contract value without a withdrawal charge. A covered condition is defined as confinement in a Residential Care Facility or Skilled Nursing Facility for at least 90 consecutive days. The contract must be in force for at least 90 days to be covered.
Annuity is underwritten by Bankers Life Insurance Company, which is the only entity financially obligated under the annuity. This annuity has limitations that may not be described here. For costs and complete details of the annuity, contact Bankers Life Insurance Company. Annuity form not available in all states. Approval does not imply endorsement of any insurer or product. Bankers and its representatives do not give legal or tax advice. This content reflects our understanding of tax rules and regulations in effect at the time of publication. Taxes must be paid on deferred earnings when accessed. You may be responsible for income taxes on amounts withdrawn, including a 10% penalty for withdrawals prior to age 591/2. In Texas, Bankers Life conducts business as Western Bankers Life Insurance.)
Uncertainties are everywhere- to : the weather, the market, the best fishing spot. But one thing is for sure: it's easier to plan when you know exactly what your income will be. With the Single Premium Immediate Annuity from Bankers Life Insurance Company, choose when you get paid a guaranteed amount, either for a set number of years, or for the rest of your life.
Our SPIA lets you customize how often and how much your payments are. Select payments to keep you on course and receive annuity income monthly, quarterly, semi-annually or annually. The future starts now.
Bankers Life Insurance Company Single Premium Immediate Annuity is an excellent choice for guaranteed income. Income can be guaranteed either for the lifetime of your client or for a fixed period. Provide your clients with the ability to customize payments according to their income needs. These payments will not fluctuate with market conditions.
Issue Ages Annuitant: 0-90 (age of last birthday) | Policy Owner: 18+ (age of last birthday)
Minimum Premium Amount $10,000
Maximum Premium Amounts $500,000 (home office approval needed for higher amounts)
Tax Qualification Types Non-Qualified and Qualified (Inherited and Stretch IRAs are not available with Bankers Life Insurance Company)
Guaranteed Payments The payment amount is guaranteed at issue. The payment period is guaranteed according to the option chosen
Electronic Funds Transfer Clients must have payments directly deposited in to bank accounts to prevent lost checks, and have immediate access to funds. Funds will normally be available the following business day on which payments are due
Proposals Payout quotes are guaranteed for 10 days with 30 days thereafter on transfers
Benefit Options Lifetime Income (ages 75 and below) | Life Income with Period Certain (5, 7, 10, 15, or 20 years) | Income for a Fixed Period (5-20 years) | Joint Life Income (100% or 66 2/3% to the survivor)
Commuted Settlement Should immediate liquidity of remaining cash value be desired by the owner or a lump sum death benefit be desired by the beneficiary(ies), Bankers Life Insurance Company is willing to process a commuted settlement
Effective Dates The contract will be effective on the date the single premium is received at Bankers Life Insurance Company. If funds are coming from more than one source the contract will be effective when the last money is received
First Payment The first payment is made one period after the effective date of the contract
Acknowledgement of Delivery Required with all cases
Suitability Form Required with all cases at the time of application
Annuity is underwritten by Bankers Life Insurance Company, which is the only entity financially obligated under the annuity. This annuity has limitations that may not be described here. For costs and complete details of the annuity, contact Bankers Life Insurance Company. Annuity form not available in all states. Approval does not imply endorsement of any insurer or product. Bankers and its representatives do not give legal or tax advice. This content reflects our understanding of tax rules and regulations in effect at the time of publication. Taxes must be paid on deferred earnings when accessed. You may be responsible for income taxes on amounts withdrawn, including a 10% penalty for withdrawals prior to age 591/2. In Texas, Bankers Life conducts business as Western Bankers Life Insurance.)
Fueled by peak guaranteed rates, the Interest Plus+ Annuity from Bankers Life Insurance Company always takes you in the right direction. Forward. Interest Plus+ offers the high 5-year MYGA interest rate, guaranteed. Plus the high renewal rate after initial guaranty.
When opportunities arise, take them. Access any or all of your funds for any reason. That's the plus.
| Contract Year | 1 | 2 | 3 | 4 | 5 | 30-Day Window | 6-10 | 11 |
| Withdrawal Charge | 1% | 1% | 1% | 1% | 1% | 0% | 1% | 0% |
Up Front Sales Load 5% of initial premium
Window Period Upon the expiration of the guaranteed rate period there will be a 30-day window during which a partial or complete withdrawal can be made without a redemption fee. At the conclusion of the 30-day window any withdrawals of the remaining balance will be subject to a 1% redemption fee for an additional 5-year schedule.
Annuitization Available after 12 months for five years or longer. Not subject to a redemption fee.
Acknowledgement of Delivery Required with all cases.
Suitability Form Required with all cases at the time of application.
Annuity is underwritten by Bankers Life Insurance Company, which is the only entity financially obligated under the annuity. This annuity has limitations that may not be described here. For costs and complete details of the annuity, contact Bankers Life Insurance Company. Annuity form not available in all states. Approval does not imply endorsement of any insurer or product. Bankers and its representatives do not give legal or tax advice. This content reflects our understanding of tax rules and regulations in effect at the time of publication. Taxes must be paid on deferred earnings when accessed. You may be responsible for income taxes on amounts withdrawn, including a 10% penalty for withdrawals prior to age 591/2. In Texas, Bankers Life conducts business as Western Bankers Life Insurance.)
In the past year, Bankers Life Insurance Company embraced change and, in doing so, made tremendous progress as an organization. Since joining the Global Bankers Insurance Group’s international family of companies in 2016, our focus has been on expanding our markets, developing new products to meet the changing needs of our customers, sharpening customer service, and sustaining our strong sales momentum in deferred and immediate annuities. Through this approach, we’ve been able to offer above average returns to our annuity contract owners, while maintaining superior customer service.
Customer service remains at the forefront of our business strategy. Phone calls to our offices are quickly answered and more than 95% of the new business received by our Home Office is processed within 24 hours of receipt.
Our conservative approach to investing in highly-rated securities while maintaining robust levels of capitalization is a key underlying principle in our ability to offer industry-leading annuity products. Our Risk Based Capital (RBC)*** score —used by state regulators to determine whether an insurance company has enough capital to support the policies it has issued — was a computed value of 458%. Regarding the investments backing up our annuity offerings, 95% of the rated securities are investment grade (NAIC 1 or NAIC 2).
On behalf of the entire Bankers Life Insurance Company team, we look forward to serving you and we sincerely appreciate the confidence that you have shown in us.
Best regards,
*** RBC formula and calculation is effective June 2018 and is subject to periodical updates.
