Company Information
Company Name
Mountain Life
Product Name
Mountain Life Alpine Horizon 5
Description
The Alpine Horizon 5 is a single premium, fixed annuity with a five-year rate lock. After five years, owners have a 30-day window to withdraw, transfer, or reinvest their account balance. If no action is taken, a new five-year term begins with a new surrender schedule.
After the first year, owners can withdraw 5% of the contract value each year penalty-free. Optional 10% free withdrawal riders are available and will reduce the annual interest rate by .25bps. This policy includes a Market Value Adjustment and accepts both qualified and non-qualified accounts.
There are no surrender penalties upon the death of the owner. Currently, this annuity policy is only available in a few states.
AM Best Rating
B+ Good (6th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 5%
Rate
6.15%
Term
5 Years
Minimum Investment
$5,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
90
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 0%
What We Like About This Annuity
Only small minimums required to fund the account and it offers a very competitive rate of return. After one year, owners can withdraw 5% of their account balance. There are no surrender penalties at death.
Notable Features
Two optional riders are available at cost. One is for qualified and the other for non-qualified accounts. Each allows the account owner to withdraw 10% of the account value each year and each will reduce the annual interest rate by .25 bps. Only one would be needed per policy.
Other Popular Products
Mountain Life specializes in guaranteed fixed annuities and life insurance policies. Their Level Term and Senior coverage is competitively priced. They also offer their fixed annuity Secure Summit series.
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About Mountain Life Insurance Company
For over 50 years, Mountain Life has offered insurance and annuity coverage in a handful of states in the South and Midwest. Originally incorporated in Tennessee, they are now domiciled in Lexington, Kentucky.
They operate through independent insurance agents in Alabama, Arizona, Arkansas, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, Oklahoma, Tennessee, and Texas.