Company Information
Company Name
Atlantic Coast Life
Product Name
Atlantic Coast Life Safe Haven 6
Description
The Atlantic Coast Life Safe Haven 6 is a single premium, fixed annuity with a six-year rate guarantee. After six years, owners have a 30-day window to withdraw, transfer, or renew their full policy value. If no action is taken, a new term will begin.
Offered with a higher initial rate and a 1% premium bonus, this contract allows consumers to choose which liquidity riders they want added to the contract. Surrender free interest withdrawals, 10% account value distributions, and full death benefit upon passing each have their own cost and will reduce the yearly rate if added to the contract.
Qualified and non-qualified funds are accepted and the policy does include a Market Value Adjustment. Contracts can be purchased at issue ages of 86-90, but must include the death benefit feature. All annuities originating in Florida must automatically include the death benefit rider and have a slightly lower interest rate.
AM Best Rating
B++ Good (5th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 0%
Rate
5.87%
Term
6 Years
Minimum Investment
$5,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 5%, 0%
What We Like About This Annuity
This annuity allows consumers to add the withdrawal features they want most to maximize their returns. Small minimums to start and competitive yields in most states.
Notable Features
Several withdrawal riders available, including: Accumulated Interest (cost = .05%), Preferred 10% distributions of the contract value (cost =.15%), Surrender-free death benefit (cost = .25%). Any riders can be added and will reduce the annual rate by stated amount.
Other Popular Products
ACL specializes in fixed and fixed-indexed annuities and final expense life insurance. Their funeral needs policies are competitively priced while fixed-indexed annuities are popular for bonus opportunities, growth and income.
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About Atlantic Coast Life Insurance Company
ACL was founded in 1925 and is headquartered in Charleston, SC. Through the years, they’ve evolved from a small life insurance company primarily offering final expense insurance to a much larger, billion dollar preneed life and annuity-focused carrier. Together with their sister company, Sentinel Life, they offer annuities in most of the US.
They strive to be a beacon of integrity in all of their dealings with clients, agents, and producers. They maintain their B++ rating with AM Best which reassures consumers about their ongoing ability to meet their obligations.
Compounding and Simple Interest Annuities
Atlantic Coast Life is unique in that they offer compounding and simple interest rate annuities. Their 20-year fixed annuity is the longest term available on the market today and is great for younger, long-term savers who want to lock in competitive returns.