S.USA Life Select Choice Plus 7
Current Fixed Rates
| 5.00% | $100,000 | — | $1,000,000 |
| 4.75% | $5,000 | — | $99,999 |
This S.USA Select Choice Plus 7 is a single premium, fixed annuity with a seven-year rate guarantee. After seven years, owners have a 30-day window to withdraw, transfer, or reinvest their entire account balance. If no action is taken, the policy will renew for a new term with a new declared interest rate.
Two interest rate bands are offered. The highest rate is for deposits above $100K while lower rates apply to amounts between $5K-$99.9K.
There are no surrender charges upon passing and 10% free withdrawals beginning in year two. Qualified and non-qualified funds are accepted and the policy is RMD-friendly. A sister version of this annuity (Select Choice 7) is available with slightly higher rates and no free withdrawals.
More Annuity options from: S.USA Life
Notable Features
At no extra charge, this policy includes Confinement and Terminal Illness riders. Both allow for the full waiver of surrender charges when certain conditions are met.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
7 Years
Free Withdrawals Yr1 / Yr2+
0% / 10%
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 0%
Maximum Age
85
Minimum Investment
$100,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
This policy can be tailored in several ways. Owners can choose whether to include Return of Premium and/or Market Value Adjustment riders. Three rate bands are available and 10% free withdrawals (year 2+) are included.
Other Popular Products
S.USA Life through their parent organization (Prosperity Life) and subsidiaries also offer competitive indexed annuities and universal life insurance policies.
About S.USA Life
S.USA Life
AM Best Rating: A- Excellent (4th of 13 ratings)
https://www.prosperitylife.com/
About S.USA Life
Founded in 1939, S.USA Life is a subsidiary of Prosperity Life Group. Their parent company has an A- rating with over 100 years of insurance experience and boasts $16.1 billion dollars under management. Other subsidiaries include SBLI USA Life Insurance Company and Shenandoah Life Ins. Co.
They describe themselves as an insurance, reinsurance, and asset management company. These entities together focus on growth, integrity, results, and inclusion. Annuities and life insurance policies are their primary product offerings.