Mountain Life Secure Summit 1
Current Fixed Rate
4.05%
The Mountain Life Secure Summit 1 is a single premium, fixed annuity with a one-year rate lock. After one year, owners have a 30-day window to withdraw, transfer, or reinvest their account balance. If no action is taken, a new one-year term begins with a new surrender schedule.
At maturity, owners can also renew for a new, declared one-year rate with no surrender penalties. After each one-year term, a new 30-day window opens for withdrawals, transfers, or reinvesting. There are no surrender penalties at death. This annuity policy is available in a few states, but the company is rapidly expanding.
More Annuity options from: Mountain Life
Notable Features
At no cost, both Terminal Illness and Nursing Home Riders are included. An optional 10% Free Withdrawal Rider is available at an annual .25bps cost to the contract.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
1 Year
Free Withdrawals Yr1 / Yr2+
0% / 100%
Surrender Schedule
9%, 0%
Maximum Age
90
Minimum Investment
$5,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
Only small minimums are required to fund this popular account. This is a short one-year fixed annuity with a competitive rate of return. After one year, owners can withdraw 100% of their account balance. One-year renewals are allowed at maturity.
Other Popular Products
Mountain Life specializes in guaranteed fixed annuities and life insurance policies. Their Level Term and Senior coverage is competitively priced.
About Mountain Life
Mountain Life
AM Best Rating: B- Fair (7th of 13 ratings)
https://www.mountainlife.com/
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, Arkansas, Arizona, Arkansas, Georgia, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Nebraska, Ohio, Oklahoma, Tennessee, and Texas.
Secure Summit and Alpine Horizon Annuities
Mountain Life specializes in fixed annuities and currently offers the Secure Summit and Alpine Horizon products. Term lengths of 2-10 years are available depending on the policy chosen. The Alpine Horizon line offers higher rates with less liquidity while the Secure Summit annuity has lower rates, more liquidity, and unique renewal options.