Company Information
Company Name
Global Atlantic Life
Product Name
Global Atlantic SecureFore 5
Description
The Global Atlantic SecureFore 5 is a single premium fixed annuity with a 5-year rate lock. After 5 years, the full account value can be withdrawn, transferred, or reinvested. The policy does not automatically renew for a new term. Instead, it declares a new, one-year rate and remains fully liquid in annuity form.
Two interest rate bands are available. The highest rate is for deposits above $100K, and a lower rate is available for deposits between $10K and $99.9K. Qualified and non-qualified funds are accepted. There are no surrender charges at death.
AM Best Rating
A Excellent (3rd of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rates
| 4.90% | $100,000 | — | $1,000,000 |
| 4.70% | $10,000 | — | $99,999 |
Term
5 Years
Minimum Investment
$100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
8%, 8%, 7%, 6%, 5%, 0%
What We Like About This Annuity
Offered from an A rated and well-capitalized company. This policy includes 10% free withdrawal provision in all years. Policy does not automatically renew at maturity for a new term. There are no surrender charges at passing.
Notable Features
At no cost, this policy includes terminal illness, nursing home, and annuitization waivers. Systematic income withdrawals are available. An optional Return of Premium feature can be added to the policy. Non-qualified stretch accounts are accepted for inherited annuities.
Other Popular Products
Global Atlantic Life offers a comprehensive, tax-qualified long term care annuity (ForeCare) that is very popular. They also have several fixed-indexed annuities - one of which has a guaranteed increasing death benefit for those interested in wealth transfer accounts.
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About Global Atlantic Financial Group
Founded in 2004 by Goldman Sachs, this is a large and well-diversified insurance company. They boast an A rating from AM Best and over $160 billion under management. KKR, a leading global investment firm, is now their sole owner and asset manager. Global Atlantic is committed to providing financial protection for their customers’ needs today and tomorrow.
Diversified Annuity Accounts & Retirement Plans
They specialize in life and annuity products while also providing reinsurance and burial insurance products. They are most known for offering popular fixed, indexed, bonus, and long term care annuities. Their innovative ForeCare Hybrid LTC annuity and ForeAccumulation II with the Enhanced Death Benefit rider are leaders in their respective categories.
Consumers can rest assured when placing their retirement and annuity investments with this strong company. They are respected amongst both clients and agents for a reliable fixed annuity renewal history and strong corporate governance.